General Motors Made an Undisclosed Strategic Investment in AI
General Motors (GM) recently made an undisclosed strategic investment in Artificial Intelligence (AI). The UVEye is now being used by the automaker to support their vehicle inspection process.
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LANSING, MI – JANUARY 25: General Motors CEO Mary Barra announces a $7 billion investment, the largest in the company’s history, in electric vehicle and battery production in Michigan on January 25, 2022 in Lansing, Michigan.
The move was made by GM Ventures, the company’s venture fund. GM Ventures also has other investments in various AI-themed startups. As part of this collaboration, GM will sell the UVEye technology to its dealer network to upgrade their vehicle inspection systems. However, it is now being used at a small number of GM dealerships in the US.
GM will also be working with UV Eye on several vehicle inspection technology projects.
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So, what’s the technology all about?
As per The Verge report, it looks like an airport body scanner, but for your vehicle. It works by driving the car through the scanner. The scanner has illuminated lights on the inside and within minutes, the service providers will be able to get a detailed report about the car.
Second, it uses artificial intelligence, machine learning, and high-definition cameras that enable the technology to accurately and quickly check the car’s underbody, tired, and exterior. It can also detect safety-related issues.
The tech will be available to 4,000 dealerships across the country.
UVEye is gaining so much popularity in the car industry. Just last year, it closed $60 million in series C funding from a group of investors led by WR Berkley Corporation, CarMax, and FIT Ventures.
Artificial Intelligence in the Car World
This is not the only ground-breaking technology in the car world, though. There is a lot of interest in the AI technology. Investing in AI technology is one of the most profitable strategies nowadays. It seems like all the big players in the car industry are also betting on this.
They are trying to leverage this technology to improve their vehicles’ cognition. So, AI will help them to save money and reduce the cost of ownership. Some car manufacturers are making use of AI to reduce the need for human interaction. They are using it to improve the driving experience and keep their vehicles safe.
The UVEye is just a phenomenal technology. It has the ability to eliminate a lot of human error. It can also improve the accuracy of vehicle inspection process by over 90 percent. Furthermore, it will help the industry to save money. The UVEye can reduce the time it takes to complete a vehicle inspection.
In the coming months, they will reportedly be partnering with several new customers. We can expect their technology to appear in the rest of the world soon. This is definitely a technology that will disrupt the multi-billion dollar industry.
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Written by April Fowell
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