Intel acquired startup Itseez to enhance the chipmaker’s capabilities with self-driving cars and the Internet of Things (IoT).
As related by Venture Beat, Intel bought the California-based startup that specializes in computer vision which includes methods for using real world images to automate actions and inform decision-making.
“Intel is transforming from a PC company to a company that powers the cloud and billions of smart, connected computing devices,” said Doug Davis, the senior vice president of Intel’s IoT group. “These devices will use the power of Intel technology to process data being generated from ‘things,’ connect to and learn from data being analyzed in the cloud, and deliver amazing new experiences.”
The acquisition signals Intel’s deeper commitment to developing technology for the autonomous vehicle market. Davis said that computer vision is fast developing into essential technology for such applications as self-driving cars as well as medical imaging and security systems.
Itseez going into Intel IoT arsenal
He said that Itseez will be integrated into Intel’s IoT group in order to help the company’s clients create applications in such areas as digital security surveillance, industrial inspection and autonomous driving. Itseez makes software for a variety of uses, including security systems and automobiles.
The company has also been a significant contributor to computer vision standards such as OpenVX and OpenCV.
“Together, we’ll step up our contribution to these standards bodies — defining a technology bridge that helps the industry move more quickly to OpenVX-based products,” said Davis.
Morgan Stanley predicts that autonomous vehicles could generate $507 billion in productivity gains annually. However, Davis said those productivity gains won’t be realized until many ongoing hurdles are overcome.
“While the possibilities are exciting, the reality requires solving a myriad of technology challenges,” he said. “Solutions will need to seamlessly deliver a combination of compute, connectivity, security, machine learning, human machine interfaces and functional safety.”