Hyundai has announced a strategic investment in Allegro.ai, a start-up focused on developing deep learning technologies for our future cars. On Monday, the Seoul, South Korean-based firm said its interest in Allegro.ai is based in the firm's deep learning technologies used for computer vision in self-driving vehicles. Founded in 2016, Allegro.ai is the creator of a platform which supports the development of deep learning and artificial intelligence solutions, including -- but not limited to -- autonomous vehicles, drones, and security applications. The automaker has invested into Allegro.ai However, investment figures have not been disclosed.
Artificial intelligence and the application of it across nearly every aspect of our lives is shaping up to be one of the major step changes of our modern society. Today, a startup that wants to help other companies capitalise on AI's advances is announcing funding and emerging from stealth mode. Allegro.AI, which has built a deep learning platform that companies can use to build and train computer-vision-based technologies -- from self-driving car systems through to security, medical and any other services that require a system to read and parse visual data -- is today announcing that it has raised $11 million in funding, as it prepares for a full-scale launch of its commercial services later this year after running pilots and working with early users in a closed beta. The round may not be huge by today's startup standards, but the presence of strategic investors speaks to the interest that the startup has sparked and the gap in the market for what it is offering. It includes MizMaa Ventures -- a Chinese fund that is focused on investing in Israeli startups, along with participation from Robert Bosch Venture Capital GmbH (RBVC), Samsung Catalyst Fund and Israeli fund Dynamic Loop Capital.
A recent report emerging from the center of U.S. auto manufacturing rains on the AI parade with research results claiming autonomous vehicle algorithms fare poorly in bad weather. The study by researchers at Michigan State University found that even light rain or drizzle can interfere with algorithms used in self-driving car cameras. That could mean future fleets might initially be restricted to sunny states like Arizona, California and Florida. The Michigan State study determined that the core problem stems not from cameras used as primary sensors for detecting obstacles but the algorithms used to sort through computer vision data. "When we run these algorithms, we see very noticeable, tangible degradation in detection," Hayder Radha, a Michigan State University professor of electrical and computer engineering, told Automotive Newsin late November.
Following up on EV battery and EV charging #NewsBonanza posts, here's one on 11 autonomous vehicle & AI stories from the past couple of months that we thought should be covered but we never got to for individual stories. "Google is taking both its immense tech capabilities and social responsibility role very seriously. Namely, it has pledged to provide tangible support to organizations wanting to help address societal challenges using artificial intelligence through its just announced'AI Impact Challenge'. Whether an idea needs coaching, grant funding from a pool of $25 million available, or credit and consulting from cloud services, Google will be there to help." "The program aims to enable computers to communicate naturally, behave reasonably in new situations, and learn from new experiences." Smart Circuit, as it's called, uses vehicles from May Mobility and covers a 1.5-mile loop around the Scioto Mile during the hours 6:00–22:00.
Hyundai Mnsoft will collaborate with AI startup Netradyne for the development of high definition maps for next-generation vehicles, the companies announced. Hyundai Mnsoft, a subsidiary of Hyundai Motor Group focused on navigation solutions, will leverage Netradyne's crowd-sourced deep vision technologies for the development of HD maps. Netradyne, founded in 2015, specialises in using AI for driver and fleet safety. The startup recently won a proof of concept trial against rivals for the partnership with Hyundai. Netradyne said its crowdsourced deep vision analytics for HD map generation was more affordable compared to the light detection and ranging (LIDAR)-based mapping of other companies.