Intel invests in AI innovation companies in bid to speed up the market

In a bid to stay ahead of the pack, Intel is throwing its weight behind the rise of artificial intelligence. In the hope of accelerating AI innovation, the US chipmaker has made three new capital investments. Expecting AI to be the driver for the next big wave of computing, Intel has made investments in CognitiveScale (a provider that specialises in industry-specific machine learning software), AEye (a robotic vision pioneer) and Element AI (an AI solutions firm). 

With an enormous opportunity to make AI accessible across a broad range of industries – for example, in gaming, the office and in schools – Intel, as a data company, is keen to stay ahead of its rivals from day one. The firm is desperately trying to deliver solutions that create, use and analyse the massive amounts of data that are generated every minute through AI.

“Artificial intelligence promises to transform society on the scale of the industrial, technical, and digital revolutions before it,” a spokesman for Intel said. “Machines that can sense, reason, and act will accelerate solutions to large-scale problems in myriad of fields, including science, finance, medicine and education, augmenting human capability and helping us to go further, farther, faster. Buoyed by Moore’s Law and fed by a deluge of data, AI is at the heart of much of today’s technical innovation.

“Today, typical machine learning processes are labour and compute intensive. We are helping compress the innovation cycle, with a range of purpose-built solutions to drive AI innovation. A flexible portfolio of technologies is enabling data scientists to build more advanced AI solutions and stimulate new idea exploration.”

All three of the companies that Intel is investing in specialises in coming up with AI innovations. In total Intel now has investments in some 25 AI firms. Those include companies that work on robotics and autonomous vehicles to machine learning software.