Autonomous cars will have profound changes on how society lives, AtlasTrend co-founder Kevin Hua told Which-50. (Viewing time 3:00 mins)

The following information does not take into account your personal objectives, financial situation or needs. You should consider if the relevant investment is appropriate having regard to your own objectives, financial situation and needs.

 

The changes autonomous cars will usher in will be profound, according to AtlasTrend co-founder Kevin Hua. It may not happen quickly, but “we are already slightly down the path” and the eventual effects of self-driving vehicles will be considerable, he told Which-50.

“Change is not going to be fast. But we will have profound changes on how society lives, in terms of autonomous cars,” Hua said.

“I think our grandchildren probably won’t learn to drive. If they do learn to drive it will be a novelty or a hobby for them.”

 

CLICK BELOW to watch video (viewing time is 3:00 minutes)

 

The rise of autonomous cars will have several ripple effects as well, according to Hua. Self-driving cars will foster a “car sharing world”.

It means further disruption for the taxi industry and potentially even for their original disruptors – Uber. Although the famous ride-hailing company has already moved into the autonomous vehicle industry themselves, agreeing to buy thousands of self driving Volvos in the next four years.

The industry will be driven by 3 key areas, Hua said. Firstly, the development of computer chips which “drive the processing power to allow for autonomous vehicles to operate.”

Secondly, as most cars are moving towards battery or hybrid power, that technology becomes essential for autonomous vehicles too, Hua explained.

Just as important as the hardware is the software. “Innovation in software, in things such as artificial intelligence, big data analytics and the like will allow this cars to actually operate properly,” Hua said.

 

Early Movers – Tesla And Mercedes

Current autonomous driving technology like parking assistance and cruise control are “a very minor but fundamental change in the way cars are driven,” according to Hua. The technology is one of the big appeals of both Tesla and Mercedes latest vehicles.

Tesla intends to advance on their ‘current autopilot’ technology and introduce “almost fully autonomous cars within the next 5 years,” Hua said.

Mercedes is also betting on the technology. They’ve introduced a “drive pilot” system into their top end cars. “Effectively this system is an advanced cruise control system that also allows for some [assisted] emergency breaking,” Hua said.

 

AtlasTrend manages global share funds investing in companies such as Google, Amazon, Facebook and Apple driving or benefiting from global themes such as big data and online shopping. Sign up to learn more.
Sign up to AtlasTrend for Free

 

Republished with permission from Which50.com

About Kevin Hua

Kevin Hua is a Co-Founder of AtlasTrend, an online investment platform that makes it easy for anyone to learn and invest in trends transforming our world. Kevin has over 19 years experience in financial markets including as Senior Portfolio Manager at Atrium Investment Management and Stark Investments.