News: Itseez is an expert in computer vision algorithms.
Intel has acquired IoT and self-driving vehicle technology company Itseez.com, as the PC chip-maker looks to shift its focus to cloud and IoT.
Itseez.com is a technology company working in the field of computer vision algorithms and implementations for embedded and specialised hardware.
Itseez offers software tuning and integration in several markets ranging from cars to security systems.
With the acquisition, Intel is confident that it can offer better Internet of Things (IoT) products in the segments of automotive and video where systems will attain the ability to electronically perceive, understand and interpret images.
Intel says that today the biggest markets for computer vision technology are autonomous driving and other sectors such as medical devices, security and industrial inspection.
With this acquisition, the American PC chip-making company wants to strengthen its efforts in IoT market segments like automotive and video.
Intel said that it will help in electronically perceiving and understanding images paving the way for innovation and opportunity.
According to a Morgan Stanley study cited by Intel, 75 billion hours of time is spent every year on driving in the US alone and self-driving or autonomous driving can help in increasing efficiency which can in turn produce about $507bn of income.
Despite the opportunity, Intel said, the industry is plagued with numerous technological challenges which need to be addressed. These solutions must address a combination of compute, connectivity, security, machine learning, human machine interfaces and functional safety.
Intel says that one of the major challenges in autonomous driving is computer vision. Computer vision includes taking and processing images and understanding the surroundings based on those images.
Intel Internet of Things (IoT) Group senior vice president and general manager Doug Davis said in a blogpost:"With the evolution of IoT, three important phases are coming into picture. The first phase is making everyday objects smart.
"The second phase is connecting, otherwise unconnected devices or objects with cloud where communications can result in new ways of revenue and savings in others.
"The third phase is make devices or objects intelligent enough to be constantly connected and to make real-time decisions based on their surroundings.
This is the "autonomous era," and machine learning and computer vision will become critical for all kinds of machines – cars among them."
Intel in the long-run is focused on delivering end-to-end IoT solutions that address devices, wired and wireless networks and cloud.