Automakers are ramping up for self-driving cars. I'm Reuters' correspondent, Alexandria Sage, in San Francisco. Ford just announced a one billion investment in Pittsburgh startup Argo AI. This is a robotics and artificial intelligence company, only formed in November that will help Ford on its trajectory to a self-driving car by 2021.
The last time we had such a big investment from Detroit automakers was a year ago, when General Motors decided to acquire Cruise Automation, another startup that was working to develop self-driving cars. Fords investment over five years shows that Detroit auto makers need help from outside when developing the sophisticated software, robotics and artificial intelligence that create the brain of the self-driving car.
Argo AI is founded by a former executive of the Google and the Uber self-driving teams. Ford CEO, Mark Fields, has called it a war for talent. And this deal shows that Detroit automakers and other global automakers will be trying to snatch up this talent in the self-driving sector one by one.