Tesla and Toyota made MIT Technology Review’s list of the “50 Smartest Companies” in 2016.
Tesla’s Autopilot technology helped the automaker make No. 5 on the ranking. Toyota came in at No. 17 after being cited for research on mobility, artificial intelligence and robotics, along with a new fuel cell model.
Tesla took the No. 1 spot last year with the MIT Technology Review said for its energy storage product, extending its battery technology from cars to residential and commercial applications. This year, Tesla’s Autopilot technology stands out for the way it integrates feedback from a camera, radar, ultrasonic sensors and GPS to aid drivers on highways, help them avoid collisions and assist them in parking, the study said.
The study also praised the Model 3. “Besides advancing semi-autonomous driving, Tesla is also making electric vehicles more accessible by introducing its most affordable car yet, the $35,000 Model 3,” the study said.
Toyota last made the MIT Technology Review top 50 in 2013. The study acknowledged the Toyota Research Institute for studying the future of mobility, artificial intelligence, and robotics. The Institute was started in late 2015 as part of a $1 billion program to elevate Toyota’s artificial intelligence, programming software, and autonomous vehicle and robotics know-how.
The study also recognized the Toyota Mirai launch for its range of over 300 miles and emitting only water vapor. The automaker was also acknowledged for working on developing a network of affordable hydrogen fuel stations.
MIT Technology Review has compiled the annual list since 2010. Editors picked the companies “that best combine innovative technology with an effective business model.” About two dozen people are involved in identifying and evaluating the companies, the publication said.