NEWS RELEASE
MAGNA COMMITS INVESTMENT OF $5 MILLION IN ARTIFICIAL
INTELLIGENCE RESEARCH INSTITUTE

Fostering next generation of artificial intelligence experts

Investment supports Magna’s AI strategy in manufacturing and autonomous driving

Magna reaches 60 years in manufacturing excellence and innovation
HIGHLIGHT
AURORA, Ontario, March 30, 2017 – Magna is playing a key role in bolstering Canada’s
artificial intelligence (AI) expertise and leadership position by investing in the next generation of
AI research and experts. Magna announced it has
committed to invest $5 million CDN into the Vector
Institute, a new independent AI research facility which
held its launch event today in downtown Toronto.
Vector will be dedicated to cutting-edge exploration of
AI, specializing in the transformative fields of deep
learning and machine learning. The research aims at
attracting, developing and retaining some of the best
and brightest in the area of AI.
Magna commits investment in Vector
Institute for artificial intelligence
“The automotive world is changing rapidly, reacting and
innovating in response to massive technological advances,” said Don Walker, CEO of Magna
International. “Canada is a leader in the potential game-changers of machine learning and AI,
and we want to be at the forefront of its advancements in the automotive sector.”
Magna’s AI strategy revolves around two key areas: manufacturing and autonomous driving.
From a manufacturing standpoint, leveraging AI can provide human operators enhanced
information for decision making and it can automate quality, sorting and material handling to
help reduce production costs. AI-enhanced predictive maintenance systems can also enable
effective error-free maintenance of equipment which ensures higher machine up-time. As future
mobility continues to evolve, AI will play a major role in dynamic decision-making in autonomous
MAGNA COMMITS INVESTMENT OF $5 MILLION IN ARTIFICIAL INTELLIGENCE
RESEARCH INSTITUTE
CONNECT WITH MAGNA
driving. Object detection and classification combined with scene segmentation, including traffic
volume, speeds and road conditions (weather, light and visibility), will be key attributes to selfdriving capabilities.
Magna is proud to be doing its part by investing in the future of Canadian technology. In
addition to the company’s investment in Vector, Magna recently announced its support for
NextAI - a program that came out of an innovation offsite with roughly 35 CEOs, entrepreneurs
and technology experts to help keep home-grown talent in Canada and attract leading thinkers
to the country.
“Magna has built a legacy on manufacturing and innovation which started in Canada. This year
marks the company’s 60th anniversary and we are not slowing down. We continue to invest in
our people, operations and technologies, all of which we expect will bring continued success for
another 60 years and more,” said Walker.
TAGS
Artificial Intelligence, AI, innovation, Vector Institute, NextAI
INVESTOR CONTACT
Louis Tonelli, Vice-President, Investor Relations
[email protected], 905.726.7035
MEDIA CONTACT
Tracy Fuerst, Global Director of Corporate Communications & PR
[email protected], 248.631.5396
ABOUT MAGNA
We are a leading global automotive supplier with 317 manufacturing operations and 102 product
development, engineering and sales centres in 29 countries. We have over 155,000 employees
focused on delivering superior value to our customers through innovative products and
processes, and world class manufacturing. We have complete vehicle engineering and contract
manufacturing expertise, as well as product capabilities which include body, chassis, exterior,
seating, powertrain, active driver assistance, vision, closure and roof systems. We also have
electronic and software capabilities across many of these areas. Our common shares trade on
the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further
information about Magna, visit our website at www.magna.com.
MAGNA COMMITS INVESTMENT OF $5 MILLION IN ARTIFICIAL INTELLIGENCE
RESEARCH INSTITUTE
CONNECT WITH MAGNA
###
THIS RELEASE MAY CONTAIN STATEMENTS WHICH CONSTITUTE “FORWARDLOOKING STATEMENTS” UNDER APPLICABLE SECURITIES LEGISLATION AND ARE
SUBJECT TO, AND EXPRESSLY QUALIFIED BY, THE CAUTIONARY DISCLAIMERS THAT
ARE SET OUT IN MAGNA’S REGULATORY FILINGS. PLEASE REFER TO MAGNA’S
MOST CURRENT MANAGEMENT’S DISCUSSION AND ANALYSIS OF RESULTS OF
OPERATIONS AND FINANCIAL POSITION, ANNUAL INFORMATION FORM AND ANNUAL
REPORT ON FORM 40-F, AS REPLACED OR UPDATED BY ANY OF MAGNA’S
SUBSEQUENT REGULATORY FILINGS, WHICH SET OUT THE CAUTIONARY
DISCLAIMERS, INCLUDING THE RISK FACTORS THAT COULD CAUSE ACTUAL EVENTS
TO DIFFER MATERIALLY FROM THOSE INDICATED BY SUCH FORWARD-LOOKING
STATEMENTS. THESE DOCUMENTS ARE AVAILABLE FOR REVIEW ON MAGNA’S
WEBSITE AT WWW.MAGNA.COM.
MAGNA COMMITS INVESTMENT OF $5 MILLION IN ARTIFICIAL INTELLIGENCE
RESEARCH INSTITUTE
CONNECT WITH MAGNA