Check out the on-demand sessions from the Low-Code/No-Code Summit to learn how to successfully innovate and achieve efficiency by upskilling and scaling citizen developers. Watch now.


(Reuters) – U.S. electric vehicle maker Tesla is “very close” to achieving level 5 autonomous driving technology, CEO Elon Musk said on Thursday, referring to the capability to navigate roads without any driver input.

“I’m extremely confident that level 5, or essentially complete autonomy, will happen, and I think will happen very quickly,” Musk said in remarks made via a video message at the opening of Shanghai’s annual World Artificial Intelligence Conference (WAIC).

“I remain confident that we will have the basic functionality for level 5 autonomy complete this year.”

Automakers and tech companies, including Alphabet, Waymo, and Uber, are investing billions in the autonomous driving industry.

Event

Intelligent Security Summit

Learn the critical role of AI & ML in cybersecurity and industry specific case studies on December 8. Register for your free pass today.

Register Now

However, industry insiders have said it would take time for the technology to get ready and for the public to trust autonomous vehicles fully.

California-based Tesla currently builds cars with an Autopilot driver-assistance system.

Tesla is also developing new heat-projection or cooling systems to enable more advanced computers in cars, Musk said.

Industry data showed Tesla sold nearly 15,000 China-made Model 3 sedans last month.

Tesla has become the highest-valued automaker as its shares surged to record highs and its market capitalisation overtook that of former front-runner Toyota.

(Reporting by Brenda Goh in Shanghai, Yilei Sun and Yingzhi Yang in Beijing. Editing by Clarence Fernandez and Stephen Coates.)

VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Discover our Briefings.