Technology company Intel has announced that its Intel Capital arm is to invest an additional $250 million into autonomous driving over the next two years, as it seeks to support the development of the technologies that will power self-driving cars.
In a move designed to highlight the company’s commitment to the autonomous car market, Intel CEO Brian Krzanich delivered the keynote address at this week's LA Auto Show’s AutoMobility conference, where he announced the investment.
Intel said that it will invest in technologies that “push the boundaries on next-generation connectivity, communication, context awareness, deep learning, security, safety and more.”
In particular, its new investments will be used to support technologies that drive innovation in transport through the Internet of Things; fuel areas where technology can directly mitigate risks while improving safety, mobility and efficiency; and back companies that harness the value of data to improve the reliability of automated driving systems, said Krzanich.
In an article released to coincide with the show, Krzanich wrote: “By 2020, projections show that the average person will generate 1.5GB of data a day.
“That’s an impressive 200 percent increase in less than four years – but it pales in comparison to what we’re about to see in autonomous vehicles.”
Thanks to technology such as cameras, radar, sonar, GPS and LIDAR, Intel estimates that each autonomous vehicle will generate as much as 4,000 GB – or 4 terabytes – of data a day.
With each self-driving car generating the data equivalent of almost 3,000 people, just a million autonomous cars on the road could see automated driving represent the data of 3 billion people, believes Intel.
“Just as oil has transformed our world over the last century, data is poised to transform our world for the next hundred years – and beyond,” wrote Krzanich.
Intel believes that the automotive industry is on the cusp of what it calls a 'technological revolution'.
“Self-driving vehicles, which seemed like figments of our imagination even five years ago, can decrease accidents and save human lives,” says the company.
Intel estimates that self-driving cars have the potential to save the U.S. economy $121 billion a year through increased productivity and lower fuel costs.