Investors are keen to understand the confluence of artificial intelligence stocks and driverless vehicles. Although the technology has been under development for over a decade, it is now becoming a more prominent feature in society. Readers may have even experienced such vehicles first-hand themselves.
We reached out to David Clayton, Executive Director, Clemson University International Center for Automotive Research (CU-ICAR) for his take on developments in the space:
“While the market potential for autonomous driving has always been clear, several factors are now converging that could make it a reality in the coming decade. The costs of underlying technologies have decreased dramatically. Roughly 10 years ago, a LIDAR sensor, which enables the vehicle to “see” its surroundings, could cost $50,000 or more. In recent years, several products for autonomous driving have broken the $1,000 price barrier, and in 2020, companies are now targeting $100 market entrants. Likewise, computing costs continue to decrease with the development of more powerful GPU processors required for cars to understand surroundings and navigate.”
These catalysts are powerful drivers for artificial intelligence stocks.
The following companies are a great place to consider investment, or to simply learn more about self-driving vehicles. Because as companies develop AI and autonomous vehicles, artificial intelligence stocks will appreciate in price creating massive returns:
- Baidu (NASDAQ:BIDU)
- Aptiv (NYSE:APTV)
- Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL)
- Microchip Technology (NASDAQ:MCHP)
- Nvidia (NASDAQ:NVDA)
- Ambarella (NASDAQ:AMBA)