Yahoo Finance Arrow Electronics (ARW) Unveils New AI-Powered Steering System
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 ARW's 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.
In the competitive landscape of mobility technology, Arrow Electronics' AI-powered steering system stands out for its potential to create more inclusive and accessible transportation solutions. While companies like Tesla, Waymo and traditional automakers are focusing on fully autonomous vehicles, ARW's approach of enhancing human control through AI assistance presents a unique value proposition.
Arrow Electronics, Inc. Price and Consensus
Arrow Electronics, Inc. price-consensus-chart | Arrow Electronics, Inc. Quote
Arrow Electronics' AI Initiatives: a Potential Catalyst for Growth
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. These new resources offer a comprehensive suite of solutions, including consultancy, technical training, design services, pre-built software and a curated selection of tools.
ArrowSphere Assistant, a smart cloud business helper by ARW is designed to help channel partners who manage their cloud business through ArrowSphere Cloud. This AI-powered tool, backed by Microsoft MSFT 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, per MarketsandMarkets report.
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.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
IBM has established a strong presence in the AI and cloud integration space with offerings like IBM Cloud Orchestrator and IBM Power Virtual Server. These tools provide robust solutions for managing complex cloud tasks and supporting critical workloads.
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%. The consensus estimate for 2024 earnings is pinned at $10.56 per share, suggesting a year-over-year decrease of 38.32%.
As the AI and cloud computing sectors continue to advance, Arrow Electronics' ability to innovate and differentiate its offerings will be crucial in determining its future growth prospects and market position relative to its competitors.
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