Humane, the start-up behind the Ai Pin device that aimed to replace smartphones, has agreed to sell parts of its business to HP for $116 million. This deal includes Humane’s A.I. capabilities, software platform, patents, and some employees. The Ai Pin will be discontinued, disappointing customers who had high hopes for the innovative wearable device.
Founded by former Apple employees Imran Chaudhri and Bethany Bongiorno, Humane raised $240 million in funding but struggled to meet expectations. The Ai Pin received negative reviews for A.I. software malfunctions and battery issues, leading to only 10,000 orders instead of the projected 100,000. Ultimately, Humane’s priorities shifted and they sought a sale of over $1 billion.
HP, a major player in the PC industry, plans to incorporate Humane’s technology into its laptops to enhance user experiences. The acquisition will include the creation of an innovation lab called HP IQ, focusing on building an intelligent ecosystem across HP’s products and services. Humane’s founders and employees will join HP as part of this new venture.
HP’s president and CEO Enrique Lores emphasized the company’s commitment to investing in A.I.-powered capabilities and software during a call with analysts. The collaboration with Humane represents HP’s dedication to remaining on the cutting edge of technology and providing customers with innovative solutions.
Overall, the acquisition of Humane by HP marks a new chapter for both companies as they work together to leverage A.I. technology for future product developments and enhancements.
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