Intel will invest an additional than $250 million into developing autonomous driving technology, says CEO Brian Krzanich.
Intel plans to help make fully autonomous driving a reality, acknowledges its decision signifies “how critical the automotive market has become for the company”.
Krzanich, who made the announcement at the LA Auto Show recently, says the new investment is part of the company’s ongoing work with automakers and system suppliers to help integrate advanced technologies into cars.
With the variety of sensors, sonar, Lidar laser and cameras that will come embedded in autonomous cars, Krzanich says the industry needs to be prepared for the data deluge, with “over 4,000 gigabytes of data coming from a single car each day”.
In an Intel blog post, Krzanich says the automotive ecosystem has an opportunity to use data to drive insights, take action on new business opportunities and create a safer world.
Krzanich says: “Data is truly the new currency of the automotive world.
“I am excited to announce that Intel Capital is targeting more than $250 million of additional new investments over the next two years to make fully autonomous driving a reality.
“We are committed to providing end-to-end solutions that drive insights and create value from data. Let Intel be your trusted partner as the world moves toward fully automated driving, and together data will improve safety, mobility and efficiency.”