4 Jan 2024

Among the Top 10 surprises for 2024 by JP Morgan CIO: [Surprise #4] The driverless car backlash is coming. Here's why:

"In the few places where full Level 5 autonomous cars are being tested in real world conditions (San Francisco, Austin), they have blocked ambulances on their way to the hospital, hampered other emergency responders, caused accidents, increased congestion and run over pedestrians, one instance of which reportedly resulted in the resignation of Cruise’s CEO. Waymo has added technology to reportedly allow firefighters to take control of its vehicles if they stop moving. LiDAR (autonomous vehicle technology) stocks have collapsed by 85% from their peak - see chart below. A possible backlash might be coming from citizens who believe, as in the case of the despised urban scooter plague, that convenience for some results in dangers and inconvenience for others. Tesla is experiencing problems even at Level 2, which requires driver oversight. The NHTSA investigated a series of crashes involving Tesla autopilot and found that its methods of insuring driver compliance are inadequate and can lead to “foreseeable misuse”. In December, Tesla issued a recall of 2 million vehicles to update the software to require greater driver compliance". Source: JP Morgan, www.zerohege.com


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