We recently compiled a list of the . In this article, we are going to take a look at where Stellantis N.V.
(NYSE:STLA) stands against the other autonomous driving stocks. 2024 is the year of artificial intelligence. The revolutionary new technology that has disrupted the status quo on Wall Street has managed to shift investor attention away from economic turmoil to a specific set of firms that can benefit from the massive expected enterprise spending on accelerated computing and the associated industries needed to enable this shift.
This has meant that despite the fact that interest rates have been at a 23 year high, the flagship S&P index is up by almost 44% since the close of 2022 while the tech heavy broader NASDAQ index has gained 63% during the same time period. One technology that is part of artificial intelligence is autonomous driving. Autonomous driving, in its simplest form, is built on machine learning.
, so, autonomous driving is also artificial intelligence - a fact that is often left underappreciated by the broader media and analyst coverage. Autonomous driving uses neural nets to assimilate existing data and predict the behavior of pedestrians and other drivers. This ability offers the potential to create new industries, particularly where car owners provide their vehicles for autonomous ride sharing to earn money when they don't need their vehicles.
According to McKinsey, consumer willingness to rely on shared autonomous vehicles for their trips over trips tak.