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Tesla Motors is under federal scrutiny following yet another deadly accident involving its Autopilot technology. Last August, a Tesla Model 3 struck a state trooper's car while in Autopilot mode. It was the 12th Tesla incident involving this feature, but the crash did not negatively impact the company's stock price. Meanwhile, other automakers like Ford and General Motors are testing self-driving technology.
Error and Solution
The videos taken by Tesla owners reveal a fundamental weakness in the company's technology. Tesla experts who reviewed the videos noted that a solution to one problem could introduce new ones. The algorithms were simply unable to cope with the infinite variety of real-life scenarios. The videos also show the cars failing to recognize road markings and pedestrian behavior. These accidents could cost Tesla millions of dollars in compensation and repair costs.
Roadblocks
The company is also facing obstacles from the US government's investigation into Tesla's autopilot crashes. Since the autopilot was first introduced, there have been seven fatalities and injuries attributed to the system. Tesla has yet to disclose the amount of money it lost as a result of this problem. However, it's unlikely that the company will lose money if it doesn't take steps to fix the problem.
Incidents
The incidents that Tesla has suffered from have prompted a major rethink of how AI applications are developed. These companies' AI developers will need to build greater trust in their products and services. This can be a significant challenge. Despite the challenges, Elon Musk sees a bright future for AI but admits the company is also facing the problems of trust. While he believes AI is an excellent solution for the world's most pressing problems, he also acknowledges that the risks associated with its use in cars are substantial.If any of this is a sign regarding insurance costs you should be concerned. Although AI offers some advantages, in the end it will cause insurance costs to skyrocket if Tesla does not resolve its issues with AI.
