Rising financial interest in self driving cars
Self-driving cars are still gaining attention in the public eye as improvements in product technology and infrastructure continues to increase the potential of autonomous driving. Most recently, autonomous vehicles are testing 5G technology to offer unique communications and connectivity features. Strides in driverless car technology continue to provide a strong foundation for sector growth and offer car manufacturers and investors more options in the quickly growing transportation market.
Self-driving cars have been making headlines for the last five years as the product officially launched on the market. Automobile manufacturers like Tesla, Ford, and Mercedes are all racing to develop proprietary autonomous vehicle technology and are actively looking for large investments for the future of the industry.
The notion of a self-moving vehicle was initially conceived by Leonardo da Vinci as early as the 16th century. It wasn’t until the late 1980s that autonomous driving technology really made headway in the transportation industry. First introduced in 2015, Tesla’s “Autopilot” feature enabled hands-free control for driving on highways. Since then, interest in the concept of driverless vehicles has skyrocketed as technology feats continue to encourage infrastructure development. Autonomous vehicles can already navigate themselves, however, new 5G technology will allow the cars to actually communicate with each other. Tapping into the same 5G networks that mobile phones connect to, the vehicles will be able to wirelessly communicate between themselves, signaling traffic, hazards, or roadside notifications.
Cars will not only be able to broadcast their location, direction, and speed but also manage their decision-making in relation to the actions of other cars, such as when they are merging lanes or making turns. The technology will ultimately make self-driving cars more practical and reliable, which goes a long way for the safety concerns regarding the technology. Such developments are making waves in the automobile industry as well as the high-tech industry, as companies like Qualcomm and Intel are stepping up their game to meet the demand for innovation in autonomous vehicles. These strides are not going unnoticed in the financial sector.
Investors are increasingly interested in getting a foot in the door and backing ground-breaking technology and infrastructure support. A representative from Sarkariya, a multi-family office based in Austria, confirms that clients are on board to invest in high-tech ventures such as innovation in self-driving vehicles. “We have seen an increasing amount of clients that are interested in the technology sectors. We are collaborating with a few companies that are involved in autonomous driving technology, for example, which our clients are excited about. Our investors are looking at the long-term gains and believe that there could be big returns in these expanding sectors.” It seems as if 5G technology is just the beginning for self-driving vehicles. As the public anxiously awaits the next generation of driverless vehicles on the market, investor groups and family offices are also waiting for the next big thing in automobile technology.