Continental invests in Cartica AI to accelerate object detection for autonomous driving systems
Transport technology company Continental AG has acquired a minority stake in Cartica AI, which develops algorithms for accelerating machine learning systems for object recognition, according to a company announcement. The technology could be used to enable automated and autonomous driving systems to more rapidly adapt to and handle new traffic situations, the companies say.
Continental uses AI technologies to provide advanced driver assistance systems with object recognition, and says systems for object recognition have previously needed extensive manual training, with every traffic situation and object on the road classified and designated by a human. The integration of Cartica AI’s technology will significantly reduce this manual work, Continental says.
“Continental’s investment in Cartica AI underscores its strategy of becoming an AI-empowered company,” states Continental Head of Artificial Intelligence and Robotics Demetrio Aiello. “To this end, we already rely on nearly 500 AI experts within the company. In addition, we have established an intensive scientific network in the field of AI through our partnerships with international research institutes. The investment in Cartica AI as a risk capital provider now forms the third pillar of our activities in the AI environment. This is where we support promising AI companies.”
By making Cartica AI’s software available to the entire automotive industry and distributing advanced driver assistance systems worldwide, Continental plans to promote the rapid adoption of AI for safe mobility.
The terms of the agreement were not disclosed.
The market for automotive biometrics identification is forecast to surpass $300 million by 2024.