Wayve, the brains behind AI technology for autonomous vehicles, is the recipient of this sum.
If you’re not familiar with the name, Wayve is based in London. Their goal is to launch their AI products in the UK first, with the ambition to expand to the whole of Europe.
What’s interesting here, is that it’s not just AI cars that they’re selling- even though that very well might happen- but their product is actually the AI itself. This means that what they’re likely to do is sell this AI to UK companies that rely on logistics like Royal Mail, Asda, and DPD. If they manage to do that, I imagine the paycheck would pay off that hard work!
This cash injection, led by investment powerhouse SoftBank, marks the largest known investment in a European AI company to date.
Not only does this signal progression in our journey to complete this AI Milestone, but it also increases the chance of the UK winning the race to it, in comparison to other countries. This could be exactly what the UK needs right now to get ahead of the curve, and hopefully our massive nation debt too.
Well, I don’t think I need to convince you too much about why self-driving cars are good. I definitely wouldn’t mind it if my car took the wheel on hours-long motorway journeys!
Jokes aside, we can all agree that fully automated driving in the future would prevent so many driving-related deaths. It would also “hopefully” reduce insurance premiums too, but let’s not get crazy… it would probably still be too high.
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