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Tractica, a market intelligence firm, released a study that projects the demand for automotive artificial intelligence (AI) hardware, software, and services will explode to $14 billion by 2025. These AI systems incorporate data and advanced algorithms to copy the cognitive functions of the human mind and have already started to simplify and enhance the simplest aspects of our everyday experiences with the automotive industry being no exception. Big players like Tesla, Google, and Mercedes-Benz are already participating in AI-related investment for self-driving cars. In February 2017, Ford invested $1 billion in the self-driving car startup Argo AI, which was founded by a partnership between two top engineers from Google and Uber. Martin Prescher, Chief Technology Officer at AutoGravity, says “I’m passionate about the transformation that AI is bringing to the auto industry … in terms of fundamentally changing three major blocks of the supply chain: the way people shop, the way that dealerships sell, and the way that lenders finance auto purchases.”

Full Story: Venture Beat

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