Hitachi, Fanuc, AI startup forming automation joint venture- Nikkei Asian Review

TOKYO - Hitachi, Fanuc and AI-startup Preferred Networks are creating a joint venture to develop manufacturing systems that combine artificial intelligence and edge computing technologies to achieve superior productivity. Intelligent Edge System will be capitalized at 30 million yen ($275,000), with the three companies contributing an equal amount, the trio said Wednesday. The joint venture will be established April 2 in Yamanashi Prefecture, where industrial robot and factory automation company Fanuc is headquartered. The new company will be led by Yutaka Saito, currently an executive at Hitachi. He will take up the post of senior executive vice president at Fanuc on April 1 and become the joint venture's CEO.