Arrow Electronics (ARW) has unveiled an innovative AI-powered steering system that promises to redefine the future of vehicle control in a groundbreaking development for mobility technology.
This cutting-edge system, designed for Arrow Electronics’ Semi-Autonomous Mobility Car, utilizes facial recognition technology and is built around an advanced NVIDIA processor.
The new steering mechanism was tested by quadriplegic racecar driver Sam Schmidt, who successfully maneuvered the vehicle at competitive speeds using only head motions. This achievement marks a significant milestone in assistive driving technology and demonstrates the system’s potential for high-performance applications.
At the heart of this innovation is NVIDIA’s NVDA Jetson AGX Orin module, which has been chosen by Arrow engineers for its unparalleled accuracy and low latency. These characteristics are crucial for controlling a vehicle at speeds reaching up to 213 mph, showcasing the system’s capability to handle extreme driving conditions.
The technology employs a pair of low-profile stereo cameras mounted on the dashboard to capture the driver’s movements in real-time. This data is then processed by the NVIDIA module using machine learning algorithms, allowing for near-instantaneous steering adjustments within milliseconds.
While the immediate application has been demonstrated on the racetrack, the implications of this technology extend far beyond competitive driving. Experts envision its potential use in various sectors, including agriculture, warehousing, public transportation, and construction. The system could enable operators, regardless of physical ability, to control vehicles and heavy equipment while multitasking efficiently.
This advancement by Arrow Electronics not only pushes the boundaries of assistive driving technology but also opens up new possibilities for inclusive mobility solutions across various industries.
Arrow Electronics’ AI-Powered Growth Trajectory
In recent months, Arrow Electronics has made significant strides in the field of AI. It has strengthened its relationships with leading AI chip manufacturers, enabling the company to offer cutting-edge AI hardware solutions to its customers.
The company has expanded its portfolio of AI software tools and platforms, providing customers with comprehensive solutions for AI development and deployment. Arrow Electronics is expanding its support for customers in AI and ML for embedded applications with the introduction of Arrow Edge AI engineering services.
ArrowSphere Assistant, a smart cloud business helper by Arrow Electronics, is designed to help channel partners who manage their cloud business through ArrowSphere Cloud. This AI-powered tool, backed by Microsoft Azure AI, aims to uncover new business chances, boost efficiency, and generate revenues for partners.
Shares of the company have gained 9.2% year to date compared with the Zacks Computer and Technology sector’s growth of 8%. By positioning itself as an AI solutions provider, Arrow Electronics taps into the rapidly growing AI market, which is estimated to reach $1339.1 billion by 2030 from $214.6 billion in 2024.
Arrow Electronics, currently holding a Zacks Rank #5 (Strong Sell), faces stiff competition from industry giants like International Business Machines (IBM) in the rapidly evolving AI and cloud computing markets.
Despite the competitive landscape, Arrow Electronics is positioning itself to capitalize on the growing demand for embedded AI/ML solutions. The Zacks Consensus Estimate for Arrow’s fiscal 2024 revenues is pegged at $27.9 billion, indicating a year-over-year decline of 15.73%.