Luxoft Is Driving Car Innovation Forward

Tim Higgins, Tech and Auto Report for The Wall Street Journal, joined Cheddar to discuss Softbank investing almost $1 billion into robotic delivery vehicle startup Nuro.

China's big tech companies are among the most advanced in emerging technologies such as artificial intelligence , cloud computing, and automation. Now, internet companies including Tencent and Baidu are making moves to leverage their technology in the field of self-driving cars.

Intel predicts autonomous driving will create a new "passenger economy" as a result of the idle time when drivers become riders. Trina Van Pelt, Managing Director of Intel Capital, explains how autonomous driving and smart city technologies will result in a $7 trillion market. Van Pelt says $200 billion of revenue is expected to be generated from the new applications that will emerge from pilotless vehicles. Intel sees a future with services and applications in "car-venience". These opportunities range from onboard beauty salons to fast-casual dining. Ultimately, vehicles will become transportation experience pods. Van Pelt was with us the same day Waymo announced it was testing its self-driving cars on public roads with no one at the wheel. Riders would be able to call the cars with an app, similar to the way they hail Ubers or Lyfts. Intel is currently powering Waymo's newest self-driving vehicles in an effort to expedite the transition to the passenger economy.