Intel Corp. CEO Brian Krzanich demonstrated the collision avoidance capabilities of an ASCTEC firefly drone with an Intel RealSense camera at the 2015 Consucter Electronics Show (CES) in Las Vegas, Nevada.
Patrick T. Fallon | Bloomberg | Getty Images
Intel As more companies are betting on automation tools, they are spinning artificial intelligence robotics and biometric ventures.
The new company known as RealSense was announced Friday and will be appearing alongside a $50 million Series A funding round that includes the MediaTek Innovation Fund and Intel Capital.
RealSense said it plans to create Robotics Automation tools and technologies, and use the funds to develop new product lines to meet growing demand around the world. Nadav Orbach, current vice president and general manager of Intel, will serve as CEO.
“Timing is for physical AI,” Orbach told CNBC in an interview as technology gains more use cases and traction. “We want to develop a line of new products. We see demand and we see the need. And for now, the right thing for us was raising external funds.”
Companies around the world are increasing their investment in the rapidly growing robotics sector as AI use cases expand.
Morgan Stanley The humanoid robot market is hoping to reach $5 trillion as a high-tech company by 2050. Tesla and Amazonmaking a big bet on technology and automation.
Other places, nvidia CEO Jensen Huang calls Robotics the biggest opportunity for post-AI chip makers. Salesforce CEO Marc Benioff last month claimed that AI handles 30% to 50% of software vendor jobs.
Intel is undergoing a series of cost-cutting plans after the worst years of stocks in decades.
The company cut jobs last year after xing CEO Pat Gelsinger and struggled to keep up with the AI competition. In April, the company said it would sell a majority of its stake in its chip subsidiary.
Previously known as Intel Perceptual Computing, RealSense was created over a decade ago to investigate 3D Vision technology and launched its first product in 2015. The company employs around 130 people across the US, Israel and China, targeting autonomous robotics manufacturers such as Eyesynth and Unitree Robotics.
Orbach said RealSense is focused on bringing more safety tools to the industry and bringing technology that is easy to use for customers. Intel maintains minority stakes in the company.
