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The picture looks a little different than mine, but it looks like the warning for the front radar sensor, which is used for adaptive cruise control (ACC) and emergency braking. The warning is normal in heavy rain or snow or if the sensor (glass rectangle in the grill) is dirty, but if it comes on constantly when the sensor is clean you should get it serviced.
Edit: I just noticed that you're in reverse. Does the warning only come on in reverse, and are there any other warnings? If it's only in reverse, than I suspect it's for the parking sensors, not the ACC sensor. Try turning off the parking assist to see if the warning goes away.
Yeah, my G80's sensors rightly freaked out last week during the rain when I put it into reverse to back into my driveway. Turns out it was just water on all the sensors.
Last year when I was driving it in a thanksgiving snowstorm and the radar sensor (above the license plate in the center of the grille) got caked with snow it alarmed and disabled a whole bunch of the driver aides and collision avoidance systems. Was perfectly happy again when I stopped to clear it with a snow brush.