Intel (INTC - Free Report) is expanding foothold in the advanced driver-assistance systems (ADAS) market with notable initiatives. In fact, the chipmaker leaves no stone unturned to impress technology fraternity with innovations in self driving domain every year at CES event in Las Vegas.
Notably, at the LA Auto Show in November 2017, Intel entered into an alliance with Warner Bros. with an aim to offer next-generation engaging and immersive in-cabin experiences. The companies strived to pave the way for robust experience for future autonomous cars.
Intel exhibited its first ever self-driving car at CES 2018. Now in CES 2019, Intel and Warner Bros offered a preview into the development.
The Immersive Experience
The companies attempt to provide the guests an immersive 270-degree in-car entertainment experience at the event was realized by allowing them to travel to DC’s most renowned hero Batman’s city Gotham.
Meanwhile, Batman’s trusted butler Alfred Pennyworth acted as the virtual moderator and guide, alerting the guests through road closures and route diversions, throughout the trip.
In a bid to enhance travel experience, the guests could avail comic book reader which engagingly illustrated story across the cabin.
Notably, Intel utilizes Responsibility-Sensitive Safety or RSS framework to empower autonomous vehicles with security and reliability. Pennyworth and the custom-built RSS screen demonstrated the method in which RSS monitors the vehicle ensuring a dynamic 360-degree safe zone.
The executives of Intel and Warner Bros. narrated how self driving car passengers could decide the movie to watch next from the comfort of the back seat. The guests were offered 270-degree viewing of the ongoing blockbuster, Aquaman, enabled by ScreenX.
Lastly, Pennyworth concludes the trip by providing the guests with required know-how about the destination and a guide to exit the car.
Intel estimates “Passenger Economy” to reach $7 trillion market by 2050 as self-driving gains popularity.
The partnership with Warner Bros and other involvements in ADAS domain are in sync with company’s vision to strengthen its competitive position against the likes of NVIDIA (NVDA - Free Report) , Apple,among others.
With robust in-car entertainment systems, Intel attempts to offer end-to-end solutions ensuring enhanced consumer experience. The notable development is anticipated to favor the company’s growth prospects in the automotive infotainment market which is projected to grow to $40.17 billion by 2024, per Hexa Research estimates (as revealed by reports).
Notably, in May, 2018, Intel announced its plans of testinga fleet of 100 vehicles on the streets of Jerusalem. The chipmaker had revealed the intentionat the time of acquiring Mobileye, a software developer for autonomous driving solutions, which it bought for $15 billion in 2017.
In fact, Intel and Mobileye have plans to make Level 4 and 5 vehicles hit the road with assistance from their vehicle partners by 2021. The notable vehicle partners include BMW, Fiat Chrysler, Honda, General Motors, Nissan and Audi,to name a few.
Mobileye has also struck a deal with a European car manufacturer for supplying its self-driving technologies to eight million cars.
At CES 2019, Mobileye inked a deal with Ordnance Survey by which automotive mapping capabilities of Mobileye will assist Ordnance Survey to provide reliable customized location information services to its customers.
Intel is striving to gain artificial intelligence capabilities to develop sturdy deep learning algorithms, which are expected to aid the company realize its autonomous driving plans.
Zacks Rank & Key Picks
Intel carries a Zacks Rank #3 (Hold).
Veeva Systems Inc. (VEEV - Free Report) and SS&C Technologies Holdings, Inc. (SSNC - Free Report) are a few stocks worth considering in the broader technology sector. Both the stocks flaunt a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for Veeva Systems and SS&C are currently pegged at 19.5% and 13.5%, respectively.
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