Porsche is going big on blockchain and AI


Porsche, one of the world’s most luxurious car brands, recently announced that it plans to make some “heavy” investments in the blockchain and AI industry.

The 5-year investment plan is for $176 million, which will go towards companies whose major focus either blockchain or artificial intelligence.

According to the press release, the German automobile maker has focused on getting up to speed with new technologies and new trends that will drive business growth in the upcoming years.

More specifically, Porsche will invest in companies that are in an early stage or in growth stage. Businesses that engage in improving the digital experience of customers, mobility and lifestyle are all a target for the $176-million investment pool.

Porsche seems to have realized the huge impact that blockchain, AI and other fast-moving technologies have on people’s lives, and essentially, on consumers’ spending habits and preferences. Thus, the company is serious about investing in the blockchain/AI field, so as to “revive” its business model.

The idea of implementing blockchain in the development of its vehicles is not new to Porsche, as they have been exploring the field with XAIN, a German startup that specializes in blockchain technologies for the mobility sector, as stated on their website.

 

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Porsche is going big on blockchain and AI

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