A British AI startup specializing in self-driving technologies has raised more than $1 billion from high-profile backers including Microsoft and computer chip maker Nvidia.
Called Wayve, the London-based company said Tuesday the funding would allow it to accelerate the development of its embodied AI technology that allows vehicles “to interact with, understand and learn from human behavior in environments real”. It touts new AI products as “paving the way for greater usability and safety in autonomous driving systems.”
While self-driving cars have been crowned the future of the automotive industry, a significant security flaw in autonomous driving systems has not yet been resolved: When there is a risk of an accident, systems often return control to the human driver without enough time for anyone to avoid a collision, auto industry experts said at CBS MoneyWatch.
Wayve, founded in 2017, and its investors believe that embodied AI is the solution to the safety problem of existing self-driving cars, describing the technology as “a GPT for driving.”
“Since our founding, we have believed that end-to-end AI will make autonomy possible,” said Alex Kendall, co-founder and CEO of Wayve, in a blog post published Tuesday. “We are thrilled to see our progress and this funding as a massive endorsement of our vision.“
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