SANTA CLARA, Calif., and JERUSALEM, Aug. 8, 2017 -- Intel Corporation (NASDAQ: INTC) and Mobileye N.V. (NYSE: MBLY) today announced the completion of Intel's tender offer for outstanding ordinary shares of Mobileye, a global leader in the development of computer vision and machine learning, data analysis, localization and mapping for advanced driver assistance systems and autonomous driving. The acquisition is expected to accelerate innovation for the automotive industry and positions Intel as a leading technology provider in the fast-growing market for highly and fully autonomous vehicles. The combination of Intel and Mobileye will allow Mobileye's leading computer vision expertise (the "eyes") to complement Intel's high-performance computing and connectivity expertise (the "brains") to create automated driving solutions from cloud to car. Intel estimates the vehicle systems, data and services market opportunity to be up to $70 billion by 2030. "With Mobileye, Intel emerges as a leader in creating the technology foundation that the automotive industry needs for an autonomous future," said Intel CEO Brian Krzanich.
China is one of the foremost nations embracing a fully connected society. In many major Chinese cities, sensor-filled machines that accept digital payments and support public data-collection are commonplace. Such technologies are found in supermarkets, malls, and even on sidewalks -- Chinese panhandlers have notably used the WeChat platform to collect donations from passersby. Already, China's mobile payments market is nearly 50 times that of the U.S.'s. China represents a significant investment opportunity for breakthrough innovations in digital industries.
Robert Bosch Venture Capital has announced investment in AutoAI. The company is the developer and operator of intelligent connected vehicle service (CVS) for the new generation of autonomous vehicles. It is established as a separately run subsidiary of Navinfo and is involved in technological development, product development and service operations of intelligent navigation, CVS content, intelligent OS and solutions, CVS big data and operations. Based on the core mission of "Making Auto Intelligence Easier", the company has set up bases for front-end R&D and operations with a total of nearly 1,000 employees in Beijing, Shanghai, Shenzhen, Dalian and Shenyang. AUTOAI works jointly with automobile manufacturers, industry customers and ecosystem partners in the development of the next generation of autonomous driving, bring further cutting-edge technologies, leading products, ultimate experience and compassionate service to more partners, and aim to become an innovator and leader in the intelligent CVS industry.
Siri on the iPhone, Cortana on Windows, Alexa, self-driving cars, and face recognition on Facebook photos, these are all examples of how Artificial Intelligence (AI) is already having a profound impact on human lives. This trend is also impacting manufacturing, albeit on a smaller scale now, with robots being increasingly used to replace humans in factories across the globe, from the US, Europe, Japan, China and Taiwan. Foxconn has already replaced 60,000 humans with robots in its factories, after developing artificial intelligence solutions for its manufacturing processes. Such a strategy they insist shall help them offset increasing labour costs in labour-intensive countries such as China. Also, with AI technologies finding their way into manufacturing, leading economists from MIT are worried that technology is replacing jobs at a faster pace than creating new ones, which could lead to higher unemployment over a short-term period.
According to a new report by PwC, Artificial Intelligence (AI) could contribute up to $15.7 trillion to the global economy in 2030, more than the current output of China and India combined. The greatest gains from AI are likely to be in China (boost of up to 26% GDP in 2030) and North America (potential 14% boost). The biggest sector gains will be in retail, financial services and healthcare as AI increases productivity, product quality and consumption. Increased productivity and consumer demand In the near-term, economic uplift from AI is likely to come from improved productivity. This includes automation of routine tasks, augmenting employees' capabilities and freeing them up to focus on higher value-adding work.