The new spinoff will be led by Nadav Orbach, an Israeli executive at Intel.
Intel has clarified that this decision is unrelated to the broader challenges currently facing the company. Instead, this move reflects a strategic assessment of the unique needs of the RealSense business. In a statement to Robot Report, Intel said: “After 10 years of development, Intel will unleash the potential of the Intel RealSense Computer Vision AI portfolio in standalone ICAP portfolio companies by early 2025. We will continue to provide support through.”
Intel also states: “The new company will continue to develop AI-powered computer vision solutions and deliver the current Intel RealSense portfolio, with our commitment roadmap including RealSense depth cameras, facial recognition solutions, autonomous mobile robot solutions, and physical therapy metrics. RealSense plans to expand its roadmap to include new innovations in stereo vision, robotics, and biometrics AI software and hardware.
RealSense initially focused on developing high-tech cameras and sensors for robotics, digital signage, and 3D scanning.
In 2021, Intel announced plans to shut down its RealSense business, saying it was “shifting our computer vision people, technology, and products to focus on innovative technology advances that better support our core business and IDM 2.0 strategy.” We will move on,” he said. The announcement comes two weeks after Israeli division chief Sagi Ben Moshe announced he was leaving the company.
The RealSense spinoff comes at a difficult time for Intel, culminating in CEO Pat Gelsinger’s sudden resignation in December after his third year on the job. Gelsinger returned to Intel in 2021 with ambitious plans to reinvigorate the company, including a $20 billion investment in state-of-the-art manufacturing facilities and bold predictions about Intel’s AI capabilities. was. However, many of these promises were not fulfilled.
Under Gelsinger’s leadership, Intel struggled to implement its turnaround strategy. Plant construction plans in Poland, Germany and Malaysia have been postponed, and Intel last year announced drastic cost-cutting measures, including 15,000 layoffs and a 67% reduction in real estate.
