The agency calls the technique ‘timesculpture', and says it is a progression of the "bullet time" technique used in the 1999 film.
But whereas The Matrix used a 3-D rotation of a still image, the new ad uses a similar technique with moving images.
The ad was shot on 200 Toshiba Gigashot cameras, which Grey claims is the largest number of cameras ever used in a film sequence.
The production company The Mill used an immense storage device to deal with the 20 terrabytes of footage used in the ad.
View a film about the making of the ad:
United Kingdom
Grey launches innovative ad for Toshiba
LONDON - Grey London has released a new ad for Toshiba, building on techniques made famous by The Matrix.