Auto parts makers are struggling to keep up with fast changing times.
Auto parts makers are struggling to keep up with fast changing times.

Canada’s Magna Investing in AI

Canada’s Magna Investing in AI

Global automotive components supplier Magna is going to invest $5 million Canadian dollars in the Vector Institute, a new independent Artificial Intelligence (AI) research facility in Toronto, Canada.
“The automotive world is changing rapidly, reacting and innovating in response to massive technological advances,” said Don Walker, CEO of Magna International. “Canada is a leader in the potential game-changers of machine learning and AI, and we want to be at the forefront of its advancements in the automotive sector,” ET Auto reported on April 3.
The company said in a statement “Magna’s AI strategy revolves around two key areas: manufacturing and autonomous driving. From a manufacturing standpoint, leveraging AI can provide human operators enhanced information for decision making and it can automate quality, sorting and material handling to help reduce production costs. Secondly, as future mobility continues to evolve, AI will play a major role in dynamic decision-making in autonomous driving.”
In addition to the company’s investment in Vector, Magna recently announced its support for NextAI - a program that came out of an innovation offsite with roughly 35 CEOs, entrepreneurs and technology experts to help keep home-grown talent in Canada and attract leading thinkers to the country.
“Magna has built a legacy on manufacturing and innovation which started in Canada. This year marks the company’s 60th anniversary and we are not slowing down. We continue to invest in our people, operations and technologies, all of which we expect will bring continued success for another 60 years and more,” said Walker.

Short URL : https://goo.gl/qb0ZHu
  1. https://goo.gl/uBifoK
  • https://goo.gl/b8ALIH
  • https://goo.gl/kZLMNX
  • https://goo.gl/N0qetU
  • https://goo.gl/o9MO9r

You can also read ...

Iran Missing Advantages of Foreign Banks’ Presence
Tehran Chamber of Commerce, Industries, Mines and Agriculture...
Oman Eyes Iran Market Amid Rising Imports
Ithraa, Oman’s inward investment and export promotion agency,...
With the increasing demand for EVs, almost all automotive giants in the world are investing heavily in R&D.
Iran should hasten to catch up with global automotive trends,...
Luxgen’s S3 is a 5-seater subcompact sedan equipped with a 1.6-liter, 116 hp gasoline engine.
Local company Arman Motor Kavir is set to unveil two imported...
Iran Exim Bank Tapping NDFI Resources
Export Development Bank of Iran–the country's exim bank–is to...
Billet and bloom shipments made up the bulk of exports, reaching 1.78 million tons, up 28% year-on-year.
Iran’s semi-finished steel exports during the first seven...
Local producers have often called  on the government to increase import tariffs on tires.
In order to “protect domestic production”, the Industries...
Transport MoU With South Korea
Iran and South Korea have signed a memorandum of understanding...

Add new comment

Read our comment policy before posting your viewpoints

Enter the characters shown in the image.