Argo AI is a Pittsburgh-based startup that tackles the challenges posed in the development of functional autonomous vehicle technology. The entrepreneurial business is dedicated to "make transportation safer, more accessible, affordable and convenient for all." With its ambitious mission statement and its talented team, Argo AI partnered with the Ford Motor Company. The auto giant pledged a stunning sum of $1 billion to fuel the startup's research and experiments toward safe and sustainable autonomous vehicle technology. In return, Argo AI is committed to creating "a virtual driver system for the automaker's self-driving car" that is set to debut in 2021.
With a flair for interdisciplinary engagement, Argo AI acquired Princeton Lightwave in October to enhance and inspire their quest toward autonomous vehicle technology. The partnership gave them access to LiDAR — a sensor that will make driverless cars more intuitive in bad weather and urban environments.
What Makes This Trend Stand Out
- Autonomous Vehicle Technology
- The continued development of autonomous vehicle technology presents opportunities for startups to innovate in areas such as LiDAR, AI and software.
- Interdisciplinary Collaboration
- As demonstrated by Argo AI's acquisition of Princeton Lightwave, interdisciplinary collaborations can grant access to new technologies and accelerate progress in the field of autonomous vehicles.
- Virtual Driver Systems
- Startups that focus on developing virtual driver systems for self-driving cars can have significant growth opportunities, given the predicted increase in demand for autonomous vehicles in the near future.
Sectors Adopting This
- Automotive
- Established automotive companies can collaborate with or acquire startups that specialize in areas such as LiDAR or virtual driver systems to enhance their own autonomous vehicle technology.
- Artificial Intelligence
- Innovations in AI systems can assist with the continued development of more intuitive and safer autonomous vehicles.
- Software Development
- Startups that specialize in software development can contribute to the creation of reliable autonomous vehicle systems and differentiate themselves in the market through their expertise.
