Mitsubishi Electric Corp. launched a research and development open house event in Tokyo this week to showcase their latest advanced research products. The main focus of the event was the company's new array of AI technology.
The firm spent a record ¥212 billion on research and development in 2017. With research centers in Japan, China, the U.S. and Europe, and a growing number of open innovation ties with universities and research organizations both inside and outside of Japan, the company appears poised to maintain its large research and development budget well into the future.
Worldwide spending on AI systems totaled $12 billion last year, 59 percent more than in 2016. In Japan the amount spent on the field is being boosted under the Fifth Science and Technology Basic Plan, a ¥26 trillion government-backed investment in AI research that runs from 2016 to 2020.