Intel Invests in Autonomous Driving Tech
【Summary】A report from last month shows that the company plans to invest $250 million in two years on research and development for autonomous-driving and connected-car technologies.
Intel is the latest non-automotive company to put its money into the automotive space.
A report from last month shows that the company plans to invest $250 million in two years on research and development for autonomous-driving and connected-car technologies.
Intel CEO Brian Krzanich revealed the company's plans during a speech at the Los Angeles Auto Show last month. Krzanich said Intel would be investing in startup companies that were looking to provide security to connected vehicles along with other initiatives that will "drive innovation and collaboration across the industry."
Intel has recently increased its presence in the automotive space and it sees data that self-driving and connected cars will provide as a huge opportunity.
"Data is the new form of oil," Krzanich said. "Let's say you have a car driving between here and San Diego. Well, if you want to do that in an autonomous world, without data that car will not move … you're going to have to have data as much as you're going to have to have any type of propulsion."
Intel says that by 2020, one self-driving car will produce data on a daily basis equivalent to that of 3,000 people.
During the last 12 months, Intel brought in over $1 billion worth of revenue from the industry, and the company is already working or has worked with BMW, Daimler, Hyundai, Rolls-Royce, Toyota, Tesla and other automakers.
"We really want to work collaboratively in this space," Krzanich said. He added that no single company is likely to lead the autonomous effort by itself.
At the same conference, Ford CEO Mark Fields said that mobility, more than just sales of automobiles, is where the future lies – especially in terms of profits.
"While we continue to make great vehicles, they are no longer our entire game," he said. "Today we're not only dreaming about the world of tomorrow, we're also focused on creating the city of tomorrow, which means continuing to find ways to make peoples' lives better whether they own a car or not."
Ford thinks that 20 percent of vehicle sales by 2030 will be from self-driving cars, and of that, 80 percent will be for fleet use and 20 percent will be for personal.
It expects to have a self-driving car ready for open roads, or at least the test track, by 2021.
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