汇丰银行-全球-科技行业-自动驾驶：通向ai之路的起点

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1、16October2017NomadicInvestorupdateTHEMATICGLOBALAutonomousvehicles:thebeginningoftheAIroadAutonomousvehicles(AVs)aresettomarkthebeginningofDaveyJose*theautonomousageThematicStrategistHSBCBankplcdavey.jose@hsbcib.comThetransitiontoAVscouldbefaste

2、rthanmanyexpect;we+442079911489explorethelessonslearntsofarfromthemigrationtoelectricAshimPaun,CAIAClimateChangeStrategistHSBCBankplcWelookatthecoreAVecosystemandinfrastructure,andashim.paun@hsbcib.com+442079923591highlightcompaniesexposedtothislikel

3、ynewmegatrend*Employedbyanon-USaffiliateofHSBCSecurities(USA)Inc,andTheautonomousrevolutionisnotregistered/qualifiedpursuanttoFINRAregulationsWebelievethattodaysocietyisonthecuspoftheautonomousage–wheremachinesoperatephysicalworldobjectsthatpreviously

4、requiredhumanbrainpowerandmanualdexterity,allthroughthepowerofmodernArtificialIntelligence(AI),allbythemselvesandwithoutsupervision.ThefirstbigvisuallynoticeableapplicationofthistrendislikelytobeAVsbecauseofthevolumeofkeyindustrystakeholdersalreadyinv

5、olved,readyingthetechnologyformassmarketcommercialisation–onaglobalscale(seeGlobalautos–Disruptivethreats:Carmakersversusnewentrants,19September2017).Inthisreportwebuildonourpreviousthematicwork(seeTransportshock:autonomoustoday,virtualtomorrow,19Octo

6、ber2016)bylookingattheingredientsofautonomoustransportation,drawingparallelsandlessonsfromanotherdisruptiveforcewithintransport,theevolutionofelectricvehicles(EVs).AdoptionofAVscouldbefasterthanexpectedRapidmoderndayadvancesinAItechnologysuggestthatth

7、isnewmethodoftransportationcouldbeadoptedfasterthanmanyexpect.UnliketheadoptionofEVs,whereprogresshasbeenlimited(upuntilveryrecently)bybatterycapacityandassociatedhighcosts,theadoptionofAVsisunlikelytofacethesamerestrictions.Thisisbecausethepaceofadva

8、ncementinAVsisgovernedbycomputertechnology(givenMoore’sLaw)andislikelytobemuchmorerapid.WheretolookforAIexposureWebelievethatnowisthetimeforinvestorstounderstandthewiderimplicationsfromAVrolloutandalsothenewecosystemrequiredtosupportitsgrowtho