Bosch to invest €300 million into AI
Posted: 31 January 2017 | By Darcie Thompson-Fields
Bosch has invested €300 million in a centre dedicated to increasing its expertise in artificial intelligence.
The new Bosch Centre for Artificial Intelligence (BCAI), began its work at the start of this year to boost the companies AI efforts.
The centre’s objective is to enhance expertise in the field of artificial intelligence to enhance its IoT expertise.
“With its sensors, Bosch has made things capable of feeling. Now Bosch is making them capable of learning and intelligent action,” said Dr. Volkmar Denner, chairman of the board of management of Bosch. “Ten years from now, scarcely any Bosch product will be conceivable without artificial intelligence. It will either possess that intelligence itself, or AI will have played a key role in its development or manufacture.”
The company estimates that within just five years, products featuring AI are expected to account for 10 percent of Bosch sales. The investment into the BCAI comes as the company’s sales rose in 2016 by 3.5 percent to 73.1 billion euros.
The BCAI will initially employ some 100 experts across India, Germany and the US and plans to invest €300 million in the project by 2021.
Bosch demonstrated its focus on AI and personalisation with the debut of the home robot companion Kuri at CES earlier this month.