Driverless is biggest business opportunity since internet

General Motors president Daniel Ammann says autonomous vehicles represent “the biggest business opportunity since the creation of the internet”. This new website – CarsoftheFuture.co.uk – will follow the story as it unfolds.

Being UK-based, it’s pleasing to report that we’ve made a decent start. The UK was recently ranked the fifth best-prepared country for autonomous vehicles, after 1) The Netherlands, 2) Singapore, 3) The USA and 4) Sweden.

Since then, the University of Warwick has announced a new Smart City Mobility Centre, including driverless testing facilities…

WMG tweet re new Smart City Mobility Centre

… and businesses are also getting in on the act. For example, private hire company Addison Lee has linked with driverless software specialist Oxbotica to map London’s Canary Wharf in what’s been described as the first steps toward autonomous driving in the capital.

TaxiPoint tweet re mapping Canary Wharf

As to the potential benefits – apart from the advantage to firms of not having to pay drivers – the latest artificial intelligence (AI) modelling shows that self-driving cars can improve traffic flow.

Meanwhile, much of the UK remains blighted by not-spots. Ofcom data suggests 5,000+ miles of roads in Britain have no phone signal, with the Highlands of Scotland worst affected.

There’s also the phenomenon of catastrophic forgetting to consider. The problem of computers overwriting their parameters when they learn a new task, losing what they previously knew, is one of the biggest barriers to artificial general intelligence (AGI).

Bearing all this in mind, is it premature to declare driverless cars the biggest business opportunity since the internet?

Which driverless car stocks are finance experts tipping?

With driverless vehicles being described as the biggest business opportunity since the creation of the internet, we’ve taken a look at which stocks finance commentators are tipping.

In October, financial information website MarketWatch reported: “Analysts at Morgan Stanley estimated the market for driverless cars will reach more than $800 billion by 2050”.

Brands it namechecked included: vehicle manufacturers General Motors and Honda; parts-makers Aptiv, Continental and Denso; internet companies Alphabet and Baidu; semiconductor specialists Ambarella, Nvidia, Xilinx and Mobileye; and software companies Akamai Technologies, Dessault Systems and Hexagon.

In November, news site Investor Place suggested: “We’re just a few short years away from self-driving cars becoming a major commercial force”.

Its seven autonomous vehicle stocks to consider were, in alphabetical order:

Blackberry
General Motors
Intel Corporation
NIO
Nvidia
Tesla
Texas Instruments

Also in November, financial services company The Motley Fool pondered which stocks are poised to truly profit from the driverless car revolution.

Its top three, again in alphabetical order, were:

Alphabet
Nvidia
NXP Semiconductors

If these experts are right, Nvidia – the California-based tech company famous for its graphics processing units for gaming – is certainly one to watch.