Elon Musk says Tesla will be known as an AI Company

Elon Musk recently stated that Tesla is increasingly being recognized as an Artificial Intelligence and Robotics company. On April 26th, during Tesla’s Q1 2021 earnings call, the point was made. Tesla has a reputation for being a market leader in hybrid vehicles and self-driving cars.

Despite this, the company has been embroiled in several controversies as a result of Tesla car accidents and other increasing concerns regarding technological quality issues. Elon Musk made the remark in response to Tesla’s ability to build a cutting-edge AI team and technology for its self-driving cars.

Tesla Car
Tesla

According to reports, the stock price fluctuated during the initial earnings, rising 1.2 percent to USD736.20 on the day of the announcement. However, after the earnings announcement, the stock has dropped 4.5 percent, according to the survey.

Tesla, which was established in 2003, now has a market capitalization of USD659.79 billion, according to Forbes. Rather than sticking to being just a carmaker, the company has been praised for using emerging technology like artificial intelligence to improve productivity.

Elon Musk has made comments claiming that Tesla would have a competitive advantage in terms of maximum autonomy due to the new technologies it incorporates. Tesla had a contract with Nvidia to produce the chips at first, but the company later began producing its own AI-integrated silicon chips.

Self-driving cars are driven by and navigated by these chips. Apart from that, Tesla’s autopilot software is built on deep neural networks, autonomy algorithms, ultrasonic sensors, and solid code foundations. Elon Musk stated in the conference call that the company has also used its own AI training software as a labeling tool.

“Although right now people think of Tesla as a car company or as an energy company, I think long term, people will think of Tesla as much as an AI robotics company. I think we are developing one of the strongest hardware and software AI teams in the world.” During a debate about Tesla’s Q1 financial earnings, Elon Musk said, according to Electrek.

Elon Musk
Elon Musk

Self-driving cars are commonly thought of as a real-world example of AI, and this is the problem Musk is attempting to solve. Elon Musk’s argument is consistent with Tesla’s advancement of new indigenous technologies and AI algorithms to meet the cars’ technological requirements.

Elon Musk has always had a complex view of artificial intelligence. He has been recorded saying that AI is a risky technology that could spark a third world war, before going on to discuss the new AI developments. Musk has also expressed concern about the establishment of a secure AI. This statement about Tesla being known as an AI and robotics company, in the long run, seems a little off in this context.

Keep reading the Daily News Capsule for more updated news.

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