The Driverless Car Race Shifts into High Gear

The race to make driverless car service a reality is revving up. Carmakers are ramping up investment in an array of technologies fundamental to autonomous vehicles. The industry poured more than $80 billion into self-driving technology recently, according to a tally by the Brookings Institution spanning August 2014-June 2017. It’s a full-fledged spending spree on everything from artificial intelligence software to sensors to computer chips.

“Every manufacturer in the world wants to be an early mover—or at least avoid competitive disadvantage,” notes the Brookings report. Investments by car companies, tech giants and venture capitalists will only accelerate. The whole industry is riding on more than a decade of development, steep price drops on sensors and other key hardware and breakthroughs in artificial intelligence software. Carmakers know they are also competing outside of their industry—against Apple, Google and China’s Baidu to name a few—on the technology front.

Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+

(Continues ...)

Log in to see the rest of this article and the discussion

Kiplinger Alerts is a subscription-based e-mail and online alert service that helps you make more profitable decisions for your business and investments. You get reliable intelligence and forecasts on more than a dozen factors that affect the economy and are critical to your business and financial success.

Already a subscriber?

Login now

Not yet a subscriber?

Enjoy it free for 30 days