Hyundai Mobis bets big on AI-based camera

Seen is a screen-captured image demonstrating StradVision's deep learning-based object detection technology. / Courtesy of Hyundai Mobis

By Park Jae-hyuk

Hyundai Mobis recently invested 8 billion won ($7.14 million) in a local startup named StradVision to develop high-tech cameras for safer autonomous driving, the auto parts manufacturing arm of Hyundai Motor Group said Wednesday.

Founded in 2014, the startup consisting of software engineers has developed deep learning-based software that can detect vehicles, pedestrians and text on traffic signs.

Its object detection technology has been regarded as the world-best among global artificial intelligence (AI)-based camera makers, because the software can detect objects at long distances, as well as objects behind other objects.

For example, even if images of a car, a pedestrian and a bicycle overlap each other, the software can distinguish each object from the others and use the information for safer driving.

StradVision's software has also been recognized for its ability to predict the movement of each object through analyses of driving patterns of other vehicles and postures of pedestrians.

With these abilities, StradVision holds 14 patents, and 10 of the patents were obtained from the United States.

Hyundai Mobis said its cooperation with the startup having excellent technologies can accelerate the growth of both companies, because the conglomerate's investment and global network can help the new enterprise foster its technologies and expand its presence in the market.

“We will actively push ahead with collaborations with promising startups not only in Korea but also in other countries,” said Yang Seung-wook, the executive vice president of Hyundai Mobis ICT R&D Center. “In Silicon Valley and Shenzhen, we have contacted startups in various fields including AI-based speech recognition, biometrics and robotics.”

The auto parts maker organized a taskforce in January to develop innovative technologies for futuristic cars and to push forward with new businesses. The taskforce has discovered promising startups worldwide and made investments in them.

Hyundai Mobis expects the recent investment will help it develop its own cameras for self-driving and take the lead in the market. The company aims to develop all types of sensors for autonomous vehicles independently by the end of 2020.