Wayne Raised Tens of Millions of Dollars
Wayne raised $200 million as part of its latest funding round. An autonomous driving start-up founded in London in 2017 did not disclose its new valuation, but it’s likely to be in excess of $1 billion, which would make it a so-called “unicorn” company.
It is trying to build an autonomous driving system that AI underpins. Technology companies tried to tell cars how to drive with hand-coded rules. Companies tend to use a “very complex hardware slack” that can sometimes include eight LiDAR (laser imaging detection and ranging) sensors. They also use six radars as well as 30 cameras.
This approach can work in places like Phoenix, where it’s almost always sunny. Moreover, there are wide open boulevards on grid-like structures in Phoenix. However, it isn’t scalable in other parts of the world, according to Wayne’s co-founder and CEO, Alex Kendall.
Wayne and its approach
His company has a different approach when it comes to autonomous vehicles. Its approach involves trying to teach a car how to drive itself with machine-learning software and several cameras.
More importantly, Wayne believes that deep learning has an important role to play in autonomous driving. Let’s learn more about deep learning. It is an area of AI that attempts to mimic the activity in layers of neurons in the brain to learn how to recognize complex patterns in data.
FiveAI doesn’t agree with Wayne. FiveAI believes that autonomous vehicles need more than several cameras to learn how to drive.
Wayne is working hard to expand its operations. It is trying to hire leading AI scientists who can help the company to build out its platform. However, these are some of the most expensive people to hire in the world at the moment, with some leaders in the field reportedly earning more than $1 million a year.
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