Mobileye (NYSE:MBLY) has shrugged off all valuation-based criticism and has continued moving higher. The stock has inched higher on the back of several positive catalysts. The company is well positioned to benefit from the autonomous car market and has taken several steps in the right direction as mentioned below.
The artificial intelligence market — which includes computer vision, speech recognition, data analytics, and machine learning technologies — is often considered the next frontier of computing. Research firm Markets and Markets estimates that the market will grow from $240 million in 2014 to $5.05 billion by 2020, fueled by rising demand for AI tech in the media, advertising, retail, finance, and healthcare sectors.
Driverless cars could reach public roads worldwide within the next decade , according to most industry forecasts. As a result, many companies are expanding into driverless technologies, like computer vision chips and navigation systems.
But before you invest in companies that are tapping into the growth of this fledgling market, you should read these three tips about the driverless market.