Baidu and Continental Sign Agreement to Collaborate on Automated Driving

Baidu (NASDAQ:BIDU) and Continental have signed a strategic corporation agreement for the application of artificial intelligence (AI) technology to automatic driving.
As quoted in the press release:

The agreement was signed on Wednesday, May 31 in Berlin by Dr. Qi Lu, Baidu Group President and Chief Operating Officer, and Frank Jourdan, Continental Executive Board Member and President of the Chassis & Safety Division.
Under the agreement, Baidu and Continental would establish a comprehensive strategic cooperation in the areas of automated driving, connected cars, and intelligent mobility service. Leveraging each other’s competitive advantages in automotive components and internet technology, Baidu and Continental will explore and practice business models, accelerate the commercialization of certain technologies, and provide comprehensive and reliable system solutions to smart transportation with automated driving at the core.
“AI technology has huge potential to promote social development, and one of AI’s biggest opportunities lies in intelligent vehicles,” said Qi Lu. “Continental is a leading global corporation in automotive technology and products. Through this agreement with Continental, we expect to upgrade the intelligent systems of the automobile industry and energize many existing and emerging industries.”

Click here to read the full press release.