After a turbulent journey, Humane, the start-up behind the Ai Pin device that aimed to revolutionize the smartphone industry, has agreed to sell parts of its business to HP for $116 million. HP will be acquiring Humane’s A.I. capabilities, software platform, intellectual property, patents, and some employees.
Despite raising $240 million in funding from high-profile investors and heavily promoting the Ai Pin with ads, a TED Talk, and at Paris Fashion Week, Humane’s product failed to meet expectations. The wearable device, meant to reduce smartphone screen time, faced criticism from reviewers for its A.I. software glitches and battery overheating issues. With only around 10,000 orders compared to the expected 100,000, Humane’s business struggled, leading to a decision to cease operations.
HP, a leader in the PC market, sees potential in incorporating A.I. capabilities into its laptops to enhance user experience. The acquisition of Humane’s technology will contribute to HP’s goal of becoming a more “experience-led company.” Mr. Chaudhri and Ms. Bongiorno, the founders of Humane, along with the majority of the start-up’s employees, will join HP as part of a new innovation lab called HP IQ.
HP’s president and CEO, Enrique Lores, expressed excitement about integrating A.I.-powered capabilities into their products and services. The collaboration between HP and Humane signifies a strategic move towards delivering cutting-edge technology to consumers. The transaction marks the end of Humane’s journey but opens new opportunities for HP to advance in the A.I.-powered tech space.
Note: The image is for illustrative purposes only and is not the original image associated with the presented article. Due to copyright reasons, we are unable to use the original images. However, you can still enjoy the accurate and up-to-date content and information provided.
