Intel is one step closer to establishing its presence in the Internet of Things market after purchasing computer vision startup Itseez.
Doug Davis, senior vice president and general manager of Intel's Internet of Things Group, said in a blog post on Thursday that the acquisition gives his company the chance to get involved in new markets like industrial inspection as well as advance its plans for self-driving cars.
"Itseez will become a key ingredient for Intel's Internet of Things Group road map and will help Intel's customers create innovative deep-learning-based [computer vision] applications like autonomous driving, digital security and surveillance, and industrial inspection," he said. "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."
Itseez, based in Russia, specializes in algorithms and implementations for embedded and specialized software and provides software tuning and integration for cars, security systems and other products. The start-up has also made major contributions to OpenVX, OpenCV and other computer vision standards initiatives.
Autonomous vehicles are among Intel's top Internet of Things projects, as the Santa Clara, Calif.-based firm has been adding new capabilities to cars to make them smart and connected. Such features include over-the-air management, functional safety and the ability to see surroundings and interpret them.
Davis said in his post that Americans spend around 75 billion hours a year driving, adding that self-driving cars could provide numerous benefits, noting a Morgan Stanley estimation that the technology could provide $507 billion in annual productivity gains.
"While the possibilities are exciting, the reality requires solving a myriad of technology challenges," Davis wrote. "Solutions will need to seamlessly deliver a combination of compute, connectivity, security, machine learning, human machine interfaces and functional safety."
The Itseez acquisition, for which the price has yet to be revealed, comes after Intel's Internet of Things segment in its first-quarter earnings report grew by 22 percent over the quarter from the previous year. Intel CEO Brian Krzanich revealed afterward that the company will eventually end its dependence on the PC market and shift toward a cloud and connectivity source.
Davis said that Intel's Internet of Things plans will consist of several phases, such as making ordinary objects intelligent, providing connection to products were it is absent and giving gadgets the ability to use their surroundings to make real-time decisions on their own.
