Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
TECHNOLOGY

Musk’s ‘AI Day’ confronts tough questions about Tesla’s technology

Published On :

By Hyunjoo Jin

SAN FRANCISCO (Reuters) – At Tesla’s “Autonomy Day” event in April 2019, Chief Executive Elon Musk said that by mid-2020 Tesla would have over a million self-driving vehicles where riders “could go to sleep” during a trip.

Tesla has not achieved that goal and on Thursday Musk is staging another event, called “AI Day,” to promote his electric car company as the place to work for the engineers he needs to make good on his promises for autonomous vehicles.

Musk has walked back some of his claims for Tesla’s “Full Self-Driving” (FSD) system in recent months, saying Tesla cars are “not fully-self driving yet.

U.S. safety regulators earlier this week opened an investigation into Tesla’s driver assistant system because of accidents where Tesla cars crashed into stationary police cars and fire trucks. Two U.S. senators also called on the Fair Trade Commission to investigate Tesla’s claims of “Full Self-Driving” and “Autopilot.

“Expectations have been significantly reduced from investors … Tesla has got some harder questions to answer, what’s going on with the safety probe? And how they market FSD?” asked Gene Munster, managing partner at venture capital firm Loup Ventures.

“I think the substance of the event is going to be lost with investors because it’s just a geek fest.”

Shares of the electric carmaker fell nearly 2% to $675.99 in morning trading on Thursday.

CONFLICTING VIEWS OF AI

In its invitation, Tesla said participants in the event at 5 p.m. Palo Alto, California, time will “get an inside-look at what’s next for AI at Tesla beyond our vehicle fleet.” Musk said the event will be livestreamed.

Goldman Sachs said it expected Tesla to discuss AI applications for solar/storage software and advanced manufacturing in its factories.

Musk has expressed complicated and contradictory views of artificial intelligence. He has touted Tesla’s AI as industry leading, but also said artificial intelligence could destroy humanity and pose bigger risks than nuclear-armed North Korea.

During 2017 and 2018, Tesla struggled to increase production of the Model 3 sedan in part because an ambitious factory automation project hit snags.

Yes, excessive automation at Tesla was a mistake,” Musk tweeted in 2018. “To be precise, my mistake. Humans are underrated.”

DOJO

Musk is expected to reveal more about Tesla’s “Dojo” computing system on Thursday, which he has said would process vast amounts of video data it obtain from Tesla vehicles on the road.

Musk said Dojo will have Tesla’s own chips and architecture.

“AI Day is really a recruiting day for Tesla. It’s not a marketing event for a vehicle,” said Ross Gerber, chief executive of investment fund Gerber Kawasaki which owns Tesla shares.

Tesla is competing with other technology companies, especially Google, for engineers skilled in artificial intelligence systems, Gerber said.

Musk has a history of promoting technology at showy events, then pushing back the launch dates.

Last September, Musk announced an ambitious plan to produce its own battery cells which would enable Tesla to offer a $25,000 car in three years. But Musk subsequently canceled the longest-range Model S Plaid+, which he had said would use the cells.

 

(Reporting by Hyunjoo Jin; Additional reporting by David Shepardson; editing by Grant McCool)

Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts