Intel’s Digital Transformation of The Olympics: AI Meets Sports
Intel’s Digital Transformation of The Olympics: AI Meets Sports
Intel introduced an innovative, imaginative approach to the Olympic experience, implementing 5G technology, artificial intelligence, drones, and virtual reality.
Highlights
Expect groundbreaking technology like 5G, AI, and VR to elevate the Olympic experience thanks to Intel's INTC 0.00%↑ innovations.
Intel's partnership promises flawless HD broadcasting and advanced event planning tools like OnePlan's 3D mapping.
The $400 million deal with Intel is ending soon, leaving the future of their Olympic involvement uncertain.
Technology is one of many notions that come to mind when discussing sports. In fact, many argue that the two aren't related at all. However, even the most traditional minds would have to agree that a show-stopping event such as the Olympic Games lies on the foundation of state-of-the-art technology. This revolutionary technology brings the authentic Olympic experience to the homes of spectators on the edge of their seats around the globe.
Since the PyeongChang 2018 Olympic Winter Games, Intel has been a critical factor in the Olympic technological scheme. While it is uncertain whether the fruitful collaboration between the global software innovator and the Olympic Committee will continue, even if Paris marks the end of their journey, Intel will go out with a bang.
Intel's Olympic Road: The Power of Technology
Seven years ago, the world's leading fast-food chain decided to dissolve the Olympic partnership. After over four decades, faced with the increased cost of sponsorships and unsatisfactory TV ratings, McDonald's opted out - leaving a spot open.
It wasn't long before the Olympic universe welcomed the technology giant in all its glory. Intel introduced an innovative, imaginative approach to the Olympic experience, implementing 5G technology, artificial intelligence, drones, and virtual reality.
According to Sarah Vickers, the Director of Intel's Olympic Program Management, Intel is "excited to use new technologies to bring deeper levels of interaction to Olympic and Paralympic fans around the world, especially as Intel leverages AI, compute and connectivity to transform the broadcast landscape."
Furthermore, the company views the Games as an exclusive opportunity to unite the world "not only by a desire to watch the world's best, but by innovative technology solutions that enable new levels of connectivity, streamline and secure operations, increase sustainability and deliver data-rich experiences."
Private 5G Network
Intel's first step in revolutionizing the Paris 2024 coverage is introducing a private 5G network superior to traditional Wi-Fi. To achieve the best network coverage and offer unmatched security, Intel created a completely wireless system, significantly decreasing the setup time. The network is controlled by a compact and portable mobile radio base station that allows maximum coverage even in outdoor locations that once represented a challenge for organizers.
Partnered with Cisco CSCO 0.00%↑, Intel is shaping the future of live event broadcasting, providing minimal-latency HD video transmission even from remote locations. However, the revolution continues beyond the Games; other industries will also benefit from this networking innovation in the future.
Collaboration with SoReal
The 5G network will also support VR/AR experiences at the Games - a joint project by Intel and SoReal. This collaboration will introduce different VR and AI platforms and elements, creating an entirely new dimension of the modern Olympic experience for athletes, visitors, stadium operators, and spectators in attendance.
The main focus of this project is to blur the lines between sports and technology and showcase how significant technological advances are in event organization and business in general. The improvements will mainly affect VR/AR content production. Still, the two companies have many other surprises in store for the Olympic family, including a theme park, 3D content development platforms, and esports events.
Intel promises the most technologically advanced Games in history, powered by their unmatched 5G platform and top-notch technological solutions.
OnePlan Coverage
When it comes to an event such as the Olympic Games that involves thousands of participants in different stages, its complexity raises the question of organization. Organizing and planning all outdoor and indoor events, venue layout, and everything else that goes into it is a crucial process.
OnePlan is the company in charge of the 2024 Olympic and Paralympic Games organization. Supported by Intel's hardware and technology, OnePlan provides 3D mapping that allows all teams to collaborate in real time. The unique system allows for anticipation of weather conditions and technical elements such as texture, lighting, and reflections in certain areas while also allowing for audio simulation. This detailed approach enables the teams to prepare for all scenarios promptly. Together, the two companies ensure that processes are streamlined adequately and timely.
A Review of the 7-Year Olympic Sponsorship
Intel has undoubtedly revolutionized how the Olympic Games are organized, promoted, covered, and presented to the world. Since replacing McDonald's as a Worldwide Olympic Partner, Intel has supported the events with its leading technology and added numerous interactive elements to make the experience even more exciting. This year's agenda looks as promising as ever, and the Olympic Committee is confidently placing the broadcasting content and technological support in the hands of the Intel team.
That said, the $400 million sponsorship deal is approaching its end, and the possibility of an extension after the Paris Games remains a mystery. The Games represent an excellent canvas for tech giants like Intel to present, utilize, and enhance their latest technologies. However, it remains to be seen whether sports events coverage is worth the company's high-priced involvement or if Intel could venture into an entirely new, unexplored field.
Financial Outlook
Intel’s INTC 0.00%↑ fourth-quarter revenue was $15.4 billion, up 10 percent year-over-year (YoY). Full-year revenue was $54.2 billion, down 14 percent YoY.
Forecasting first-quarter 2024 revenue of $12.2 billion to $13.2 billion; expecting first-quarter EPS attributable to Intel of $(0.25) (non-GAAP EPS attributable to Intel of $0.13). Q1 earnings occurs on April 25th, 2024. To view or listen to their Q1 earnings, visit here.
In the Data Center and AI Group (DCAI), the total addressable market (TAM) saw contraction due to competitive pressure. Revenue declined 10% from fiscal year ‘22 to ‘23.
At 2023 year end, Intel achieved their commitment of $3 billion in cost savings.
The company announced that its board of directors has declared a quarterly dividend of $0.125 per share on the company’s common stock, which will be payable March 1, 2024, to shareholders of record as of Feb. 7, 2024.
