_The latest aquisition by Intel could give it a big leg up in the race to develop Internet of Things (IoT) and autonomous driving technology. The chipmaker signed an agreement yesterday to acquire computer vision software company Itseez Inc. The 11-year-old San Francisco-based firm will become part of Intel’s IoT Group (IOTG).
“Intel is focused on delivering end-to-end IoT solutions addressing devices, wired and wireless networks and the cloud,” Doug Davis, senior vice president and general manager of Intel’s IOTG, wrote yesterday in a blog post. “The IoT future we’re building for our customers is exciting, and the talented team at Itseez will help us get there, faster.”
Intel Pivoting to IoT
Itzeez specializes in developing algorithms and implementations for embedded and specialized hardware. The company is also responsible for software tuning and integration in a number of different products, including automobiles and security systems.
Intel said that the acquisition will further its efforts to compete in IoT market segments, such as automotive and video, where the ability to electronically perceive and understand visual information is becoming increasingly important.
Davis said the development is part of Intel’s strategy to transform itself from primarily a PC chipmaker to a company that powers cloud and connected smart devices. One of the IoT segments where Intel sees a particular opportunity is autonomous driving (pictured above), Davis noted.
Americans spend around 75 billion hours a year driving, according to Intel. And Morgan Stanley has estimated that self-driving vehicles could potentially deliver $507 billion in annual productivity gains, among other possible benefits.
“While the possibilities are exciting, the reality requires solving a myriad of technology challenges,” Davis said. “Solutions will need to seamlessly deliver a combination of compute, connectivity, security, machine learning, human machine interfaces and functional safety.” _
Yet another bold move by INTEL Idio(ma)tic BOD [namely "retired" Doug Davis].
BK, MR and DD, keep up the good job, will ya? ;-)