Intel CEO Brian Krzanich in an op-ed published on Monday, said that the company has invested more than $1 billion in businesses that are advancing the field of artificial intelligence.
The investments have come through the Intel Capital investment fund and include financing for a number of AI startups, including Data Robot, Mighty AI, and Lumiata.
“I believe Intel will be the AI platform of choice, offering unmatched reliability, performance, security and integration. We are 100 percent committed to creating the roadmap of optimized products to support emerging mainstream AI workloads,” Krzanich said.
Intel sees huge potential in AI and been repositioning via acquisitions and corporate restructuring to focus on the technology. The tech giant has acquired Altera, Nervana Systems, and Movidius. Intel has also established a dedicated AI group led by Naveen Rao, former CEO of Nervana, as well as an AI lab for advanced research and development.
Intel has also invested heavily in the automotive space, including its $16 billion buyout of Mobileye back in March. That deal closed last month and Intel is already working on a fleet of level 4 autonomous vehicles using Mobileye's computer vision, sensor fusion, mapping, machine learning, and AI technology.
To drive AI innovation, Intel is making strategic investments spanning technology, R&D and partnerships with business, government, academia and community groups. The company claims to be “committed to unlocking the promise of AI: conducting research on neuromorphic computing, exploring new architectures and learning paradigms.”
Last week, Intel announced that it is expanding its relationship with Google spinoff Waymo in the development of self-driving cars. The world's largest computer chipmaker said it will take on a more collaborative role with Waymo's new self-driving Chrysler Pacifica minivans. Intel will continue to supply technology for the autonomous driving project.
Waymo's Chrysler Pacifica fleet is fit with Intel Corp. technology for sensor processing, general computing and connectivity.
No financial details of the deal between Intel and Waymo were announced.
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Priya Singh leads the editorial team at AIM and comes with over six years of working experience as a journalist across broadcast and digital platforms. She loves technology and an avid follower of business and startup news. She is also a self-proclaimed baker and a crazy animal lover.