He said this cash will, er, drive the development of technologies that push the boundaries on next-generation connectivity, communication, context awareness, deep learning, security, and safety.

In a statement full of metaphors, he said that Intel wanted to drill down into the areas that will be fuelled by the fresh investments. No mention of fracking but that will be for when the money runs out we guess.

Krzanich said that this is all part of the global move to the Internet of Things (IoT) in transportation. He claimed that technology could mitigate risks while improving safety, mobility, and efficiency at a reduced cost.

He claimed that the automotive industry is on the cusp of a major transformation which needed unprecedented levels of computing, intelligence and connectivity.

With the variety of sensors, sonar, LIDAR and cameras that will come embedded in autonomous cars, he highlighted the need for the industry to be prepared for the data deluge with over 4,000 GB of data coming from a single car daily.