Toyota embarks on new mobility direction with Woven City
Toyota is looking to transition from an automobile manufacturer into a mobility company under the guise of its Woven City project which will blend new tech and 21st century living.
Woven City, located at the former Higashi-Fuji Plant site of Toyota Motor East Japan, at the base of Mount Fuji, will have three types of streets interwoven with each other on the ground level, dedicated to automated driving, pedestrians, and pedestrians with personal mobility vehicles.
Billed as the world's first programmable city, there will also be one underground road used to transport goods. The community will start with roughly 360 residents, mainly senior citizens, families with young children, and inventors and will eventually have a population of more than 2,000 individuals including Toyota employees. The infrastructure of Woven City aims to create an environment where inventions with the potential to solve social issues are created on a timely basis.
Alongside automated driving, the hi-tech project will be a showcase for personal mobility, robotics, and AI and is expected to provide a number of opportunities for businesses and researchers.
"The unwavering themes of the Woven City are 'human-centered,' 'a living laboratory' and 'ever-evolving.' Together with the support of our project partners, we will take on the challenge of creating a future where people of diverse backgrounds are able to live happily," said Toyota President Akio Toyoda.
Smart infastructure is a key focus throughout Asia.
As one of the highly ranked markets in the ASEAN for AI adoption, Indonesia has unveiled a national strategy for the development of AI and implemention in education, research, health services, food security, mobility, smart cities and public sector reforms.
It is hosting the World AI virtual conference on March 4, uniting stakeholders of the AI ecosystem in SE Asia including IT leaders from some of the most influential think tanks and top companies, and highlighting core tech strategies and digital infrastructures that will drive the next phase of AI adoption in the post-Covid-19 era.
Vietnam’s leading IT services provider FPT Software, a subsidiary of FPT Corporation, and Smart Holdings of Toyota Group recently launched FPT Smart Technologies, a joint venture providing digital transformation services and solutions.
XYZ Reality receives £20m to develop Assisted Reality
Founded in 2017, XYZ Reality aims to "revolutionise" the construction sector with its Engineering-Grade Augmented Reality (AR) solution, Holosite.
Designed to enable an on time and on budget delivery of construction projects, by eliminating building errors, HoloSite has been available to select customers through an early access programme and has already been used on projects totalling a value of over £1.5bn in the last year.
With approximately 98% of construction megaprojects facing cost overruns or delays and 7-11% of project costs being spent on correcting errors, XYZ Reality’s purpose-built integrated AR solution directly addresses these issues.
With its safety certified AR hardhat, cloud platform and in-built proprietary software, Holosite accurately positions high fidelity 3D design models on construction sites, enabling teams to build it right, first time. The technology system has been used on complex construction projects including data centres, pharmaceutical facilities and airports.
This funding will be used to accelerate the company’s ambition of transforming projects by preparing for HoloSite’s commercial launch in the USA and continuing investment in strengthening research and development. The company is also growing its London team to include key hires across technology, manufacturing, sales and marketing.
David Mitchell, Founder and CEO of XYZ Reality, said developing its engineering-Grade AR solution helping construction teams identify errors in real-time is just the start.
"The next phase is Assisted Reality, where our spatial computing technology will have the intelligence to automatically detect and report issues in the field. And ultimately, the goal is builders building from holograms. Our vision of developing world changing products aligns with Octopus Ventures’ mission of investing in companies that are powering the next industrial revolution. We look forward to building history.”
The latest round of funding is led by Octopus Ventures, one of the largest and most active venture investors in Europe, known for its commitment of investing in companies and founders that are changing the world. Octopus Ventures has a strong track record, spanning investment in health, fintech, consumer, B2B software, and deep tech. This includes WaveOptics, one of Octopus Ventures’ early investments in Augmented Reality, which was recently acquired by Snap Inc.
Rebecca Hunt, early-stage investor at Octopus Ventures, said: "We’ve always invested in entrepreneurs leading industry change and XYZ is doing just that. It's solving a massive problem that costs the construction industry billions every year, using its Engineering-Grade Augmented Reality solution to spearhead a shift in the sector’s approach. The founding team of David, Umar and Murray have deep domain and technical expertise, which we believe makes XYZ uniquely placed to drive this transformation.”
XYZ Reality also announces a new partnership with Mace, for the construction of a hyper-scale data centre in Europe. With speed to market being particularly essential for mission critical builds, HoloSite’s AR technology will have a significant role in supporting an accurate and time effective build for Mace, which last week appointed Jon McElroy its new Managing Director for International Technology.
Mace Technical Director, Stephen Henley, said: “Mace has built a reputation of redefining the boundaries of ambition, always bringing efficiency, innovation and responsibility to our projects. With the implementation of XYZ’s groundbreaking AR system, we continue to be committed to delivering projects faster, safer and better than ever before.”
Five years ago, Heather Bellini of Goldman Sachs Research expected virtual and augmented reality to become an $80 billion market by 2025.
But according to new research by global tech market advisory firm ABI Research, nearly 28 million augmented and mixed reality smart glasses will ship in 2026, while the total global AR/MR market will surpass $175 billion in the same year.
"Major tech players across hardware, software, and services look familiar in the consumer space, contributing to strong and consistent overall growth," says Eric Abbruzzese, Research Director for ABI Research. "Those big tech names, with active investment and product ranging from already available, to announced, to all-but-announced, are creating a consumer AR market that will be dynamic and welcoming rather than struggling and immature."