Autonomous driving technology is a hot topic in the automotive industry, but most drivers still have their doubts about fully self-driving cars. That’s where Wayve, a London-based AI startup specializing in autonomous driving, comes in. The company has raised over $1 billion from high-profile backers like Microsoft and Nvidia to accelerate the development of their embodied AI technology.
The funding was announced on Tuesday to promote greater usability and safety in autonomous driving systems. Wayve’s technology enables vehicles to interact with, comprehend, and learn from human behavior in real-world environments. This innovation could be the key to making autonomy possible and solving one of the major safety flaws of self-driving cars: expert opinions indicate that these systems often return control to the human driver too late to prevent collisions when there is a potential accident.
Wayve was established in 2017 and its investors believe that their embodied AI technology is the answer to this issue. They describe it as “a GPT for driving,” seeing it as a crucial element in making autonomy possible. Co-founder and CEO Alex Kendall is excited about the progress and sees this funding as a major endorsement of their vision. Anne Marie D. Lee, editor for CBS MoneyWatch covers a range of topics including personal finance, the workplace, travel, and social media.
