We hate to break it to you but self-driving car developers have some serious obstacles to overcome. While some estimations suggest that 90% of cars on the road could be fully or highly autonomous by 2040 , tech titans and startups alike must first leap massive technological hurdles as well as solving legislative questions concerning liability in the case of collisions, and even fatalities, before making this vision a reality.
Although, this hasn’t stopped business leaders from pushing the sector forward. For instance, startups like FiveAI and Pony.ai have raised considerable rounds in the past few months while the ride-hailing unicorn Lyft acquired the smart mapping UK firm Blue Vision Labs to boost its autonomous division at the end of October 2018.
Moreover, it seems like every Silicon Valley behemoth from Apple to Tesla is working on making human drivers obsolete. The competition is so fierce that Waymo and Uber went to court at the beginning of 2018 to settle an intellectual property dispute regarding – you guessed it – self-driving car technology.
So why is everyone obsessed with changing the way traffic works? Well, for starters, the world of transformation is ripe for disruption. From apps making it easier to plan your journey to smart city initiatives using big data to redirect traffic and avoid congestion, loads of businesses have aimed to rethink how people go from A to Z over the past decade.
Not only will self-driving cars play a huge part in this revolution but it’s also good business. “Autonomous vehicles is one of the next most valuable industries on Earth,” said William Sachiti, the founder and CEO of the Academy of Robotics , the UK company behind the autonomous vehicle startup Kar-go.
Speaking exclusively with Elite Business, he continued: “McKinsey recently published a study on self-driving vehicles. In the publication, […]