Tesla CEO Elon Musk touted robotaxis by 2020 on Tesla autonomy investor day, and Wall Street was not impressed.
At the company event on Monday, Musk was all too confident about carrying out autonomous robotaxis next year, even predicting that Tesla will be making cars with no steering wheels or pedals by 2021.
Analysts believe the technology is still far from ready and it puts Tesla at a risky position to compete with leaders in ride-hailing and software industries.
“We see a significant amount of technology and execution risk in the shift in strategy from competing in just electrification to Tesla also beating Nvidia in hardware, Google in software, and building a better ride-hailing service than current ride hailing leaders,” Cowen’s analyst Jeffrey Osborne said in a note on Tuesday.
“The Tesla Network robotaxi plans seemed half baked, with the company appearing to either not have answers to or not even considered pretty basic question on the pricing, insurance liability, or regulatory and legal requirements,” Osborne added.
The event came two days before Tesla reports first-quarter earnings.
Shares of Tesla are down more than 1% in premarket trading on Tuesday.
This article was summarized automatically with AI / Article-Σ ™/ BuildR BOT™.
In today’s world of online marketing and globalized technology, many companies such as Netflix continue to use traditional software connectors and shared data storage systems in order to help serve their customers in the long run.
While the intentions of these companies for using such methods may seem pretty innocuous, the problems with these methods are that because they are expensive and time-consuming, many consumers distrust some of these companies for collecting their data. As such, companies such as Netflix cannot provide to their clients the services that they deserve.
In response to this issue, a group of four scientists: Drs. Gihan J. Mendis, Moein Sabounchi, Jin Wei, and Rigoberto Roche, decided to team up and create a decentralized data collection system that utilizes Etherium blockchain technology(i.e. Smart contracts) and deep learning methods(i.e. deep convolutional neural networks or DCNNs). This way, companies can still collect valid data from their clients and ensure that their privacy will not fall into the wrong hands, so to speak.
While this system is still undergoing experimentation, so far, the results have proven to be very successful as demonstrated by this experimentation of implementing distributed learning architectures into existing deep learning models that share data with a central controlling agent.
As of now, here in the United States companies such as Menlo One are utilizing blockchain technology in order to create decentralized apps called dApps, which are faster and more efficient than traditional computer apps.