NetworkNewsWire
Editorial Coverage: In an unprecedented transformation of
global industry, autonomous vehicles are about to displace drivers
and generate $7 trillion per
year by 2050 according to a study commissioned by Intel.
- Fleets (trucks, buses, taxis, deliveries) likely first movers
in autonomy uptake.
- Advanced vehicle vision and detection systems essential for
industry advancement.
- Multiple system tests already under way in cityscapes across
the world.
The study predicts autonomous vehicles will create a massive
economic opportunity that will scale from $800 billion in
2035 to $7 trillion by 2050, taking into consideration the
value of all products and services derived from fully autonomous
vehicles, including tangential savings such as time. The study also
postulates that because of greatly enhanced safety, autonomous
vehicles will save more than 580,000 lives between 2035 and 2045.
The future increasingly looks like it will be chauffeured by
intelligent, pilotless vehicles. Companies that don’t engage now
and prepare for autonomous transportation risk failure or possibly
even extinction. However, though the potential and opportunity are
exciting for this burgeoning industry, technological hurdles must
still be overcome. If history is any indicator, the complexities of
autonomous transportation will be solved like all other technical
challenges in emerging industries that have come before, and
outsized rewards will be delivered to those who provide solutions.
At the vanguard of innovative autonomous transportation
technologies, Foresight Autonomous Holdings Ltd. (NASDAQ:
FRSX) (TASE: FRSX) (FRSX
Profile) uses proprietary and
field-proven stereoscopic technology to create advanced detection
solutions that mimic human depth perception — one of the robotic
“senses” necessary to move autonomous vehicles into the mainstream.
FLIR Systems, Inc. (NASDAQ: FLIR) designs and
delivers technologies to enhance perception and
awareness, producing an automotive-qualified
passive infrared sensor currently offered on several vehicles.
Waymo, a subsidiary of Google's parent company, Alphabet
Inc. (NASDAQ: GOOG), started testing self-driving cars in
2009 and is recognized as a leader in the field. Ford Motor
Company (NYSE: F) is aggressively testing autonomous
vehicles to identify then target the most lucrative business model,
while Tesla Inc. (NASDAQ: TSLA) is leveraging its
current semi-autonomous system, Autopilot, to collect real-world
data about how those vehicles might perform fully autonomously.
From Silicon Valley to Detroit – Fleet
First
Although the rosy predictions that self-driving cars will
generate a $7 trillion market need to be tempered with the
realities and limitations of current technology, the race is most
definitely on. Advanced driver-assistance systems (ADAS) have been
around for quite a while, assisting drivers and increasing safety.
ADAS systems are already well integrated into cars and the public
psyche, and no one disputes the importance or effectiveness of
anti-lock brakes. GPS navigation, automatic parking, lane guidance
controls, tire pressure monitors and automatic braking are now
rather commonplace.
It took years for automotive innovations that were first
introduced in the luxury car segment to finally trickle down to
most of the cars on the road. Some assume that autonomous driving
will follow a similar path, but all indications are that
self-driving vehicles will adopt a different dynamic. The first
fully autonomous vehicles are most likely to appear within
commercial fleets of trucks, taxis, buses and delivery-dependent
services where technology costs could be offset by fleet
efficiencies. Pizza companies
are already testing the use of autonomous vehicles to deliver their
products and reduce costs. The impact might be most significant
in trucking — nearly every item sold in the United States touches a
truck at some point between manufacture and purchase. The benefits
of autonomous fleets become obvious when the costs for a
truck driver represent about a one-third of the total transport
costs. Fully autonomous fleets could dramatically increase
operating margins, providing compelling impetus for rapid adoption.
However, reaching that point is dependent on robotic vehicles being
able to “see” clearly and accurately detect and avoid
obstacles.
The Vision
A recognized innovator in automotive vision systems and driver
assistance technology, Foresight
Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX) has
set new standards with its passive sensor system that uses multiple
visual light and infrared cameras in stereoscopic technology to
interpret surroundings. Mimicking human depth perception,
synchronized cameras produce a three-dimensional image that can
anticipate possible collisions with other vehicles or objects.
Foresight’s leading product,
QuadSight™, achieves near 100
percent obstacle detection with near zero false alerts.
Based on mature, proprietary stereoscopic image technology,
QuadSight doesn’t rely on pattern recognition to identify
obstacles. Rather, any object can be detected regardless of
material, color or shape, providing a competitive advantage to
other sensors that must be programmed and trained to identify
specific hazards. The breakthrough system includes stereo and quad
camera systems as well as the software that interprets the signals
from the cameras, thereby delivering vision to vehicles that allows
them to “see “and react to situational conditions. With two sets of
stereoscopic infra-red and visible-light cameras, QuadSight
delivers highly accurate and reliable obstacle detection fusing
visible light and infra-red for 24/7 seamless vision.
Bypassing any potential signal interference or hazards,
Foresight’s QuadSight passive detection system employs non-emitting
sensors that use visible light and infrared cameras that deliver
optimal results day or night in all weather conditions. The
automatically calibrating system utilizes 3-D image analysis with
advanced algorithms for accurate depth analysis and obstacle
detection contributing to its near perfect “vision” and the ability
to “see” farther and clearer than a human driver.
“At Foresight, we believe that a car’s vision system should be
nothing less than perfect,” stated Haim
Siboni, CEO of Foresight. “Vision is the foundation of
passenger safety, and vision perfection under all weather and
lighting conditions is clearly the breakthrough that vehicle makers
need to build consumer confidence in order to accelerate autonomous
vehicle adoption.”
The Eyes
In addition to QuadSight, Foresight has
developed two other primary products. The company’s Eyes-On™
solution provides an ADAS with unique stereo vision.The system can
detect objects about the size of a legal pad from 100 meters away
and all other potential obstacles — stationary or in motion,
regardless of shape, form or material — with nearly 100 percent
accuracy and reliability.
Foresight’s Eye-Net is a cellular-based accident prevention
solution designed to provide real-time, precollision alerts to both
vehicles and pedestrians. Optimized for urban environments and
high-speed scenarios, the system provides a complementary layer of
protection to advanced driver assistance systems and extends this
protection to road users who are not in direct line of sight.
Foresight recently completed a successful
multi-user trial of its Eye-Net accident prevention solution
involving 120 users of Android and iOS cell phones located across
Israel.
The Opportunity
The company has garnered a wealth of industry and media
attention. Foresight
demonstrated its QuadSight forward-facing camera solution at the
International Consumer Electronics Show (CES) 2018 to great
reviews, and QuadSight was lauded by EE
Times for the first-of-its-kind quad camera multispectral
vision solution that operated in all weather and lighting
conditions. Foresight was also featured in CNBC’s article on
“What Driving
Will Look Like in 2028,” while Electronic
Design presented an article that went into detail on the
Foresight system.
From every angle, each of the articles and accolades highlight
Foresight’s technology breakthroughs and contributions to the
advancement of autonomous transportation. Foresight has
distinguished itself from other automotive vision systems with its
state-of-the-art technology, accuracy and reliability. Foresight
has established a new standard in vehicle vision and initiated the
next giant step forward in the adoption of an autonomous
future.
Other companies are also seeing the potential for this exciting
industry. FLIR Systems, Inc. (NASDAQ: FLIR)
designs, develops, manufactures, markets and distributes
technologies that enhance perception and awareness. The company
specializes in thermal imaging systems, visible-light imaging
systems, locator systems, measurement and diagnostic systems, and
advanced threat detection systems. Thermal sensors can see up to
four times the distance of typical headlights and are well suited
for pedestrian and animal detection. As the auto industry's only
automotive-qualified passive infrared sensor currently in
production, FLIR sensors are offered today on numerous factory
vehicles and as an aftermarket system.
Waymo is an autonomous car development company and subsidiary of
Google's parent company, Alphabet Inc. (NASDAQ:
GOOG). Google began testing self-driving cars in 2009 and
announced that it plans to allow everyone
in Phoenix to request a driverless ride before the end of year.
Since 2009, Waymo’s fleet has self-driven more than 7 million
miles, mostly on city streets, which builds on 2.7 billion miles
driven in simulation in 2017 alone. Parent company Alphabet
describes Waymo as "a self-driving tech company with a mission to
make it safe and easy for people and things to move around."
One of America’s oldest automakers, Ford Motor Company
(NYSE: F), is aggressively testing autonomous vehicles and
recently launched a pilot program in Miami. The pilot test will
separate delivery and self-driving products, and gauge what works
for both customers and companies. The iconic automaker plans for a
self-driving car network to be running "at scale" by 2021.
Tesla Inc. (NASDAQ: TSLA) says that all
vehicles produced in its factory, including Model 3s, have the
hardware needed for full self-driving capability at a safety level
substantially greater than that of a human driver. Tesla is moving
toward autonomy by using customer-owned cars to gather important
data. The company collects information about how well its Autopilot
feature performs then extrapolates that to autonomous vehicles.
For more information on Foresight Autonomous Holdings, visit
Foresight
Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX)
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content
distribution company that provides (1) access to a network of wire
services via NetworkWire to
reach all target markets, industries and demographics in the most
effective manner possible, (2) article and editorial syndication to
5,000+ news outlets (3), enhanced press release services to ensure
maximum impact, (4) social media distribution via the Investor
Brand Network (IBN) to nearly 2 million followers, (5) a full array
of corporate communications solutions, and (6) a total news
coverage solution with NNW Prime. As a
multifaceted organization with an extensive team of contributing
journalists and writers, NNW is uniquely positioned to best serve
private and public companies that desire to reach a wide audience
of investors, consumers, journalists and the general public. By
cutting through the overload of information in today’s market, NNW
brings its clients unparalleled visibility, recognition and brand
awareness. NNW is where news, content and information converge.
For more information, please visit https://www.NetworkNewsWire.com
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Please see full terms of use and disclaimers on the
NetworkNewsWire website applicable to all content provided by NNW,
wherever published or re-published: http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article
and content set forth above. References to any issuer other than
the profiled issuer are intended solely to identify industry
participants and do not constitute an endorsement of any issuer and
do not constitute a comparison to the profiled issuer. The
commentary, views and opinions expressed in this release by NNW are
solely those of NNW. Readers of this Article and content agree that
they cannot and will not seek to hold liable NNW for any investment
decisions by their readers or subscribers. NNW is a news
dissemination and financial marketing solutions provider and are
NOT registered broker-dealers/analysts/investment advisers, hold no
investment licenses and may NOT sell, offer to sell or offer to buy
any security.
The Article and content related to the profiled company
represent the personal and subjective views of the Author, and are
subject to change at any time without notice. The information
provided in the Article and the content has been obtained from
sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all
such information. None of the Author, NNW, or any of their
respective affiliates, guarantee the accuracy or completeness of
any such information. This Article and content are not, and should
not be regarded as investment advice or as a recommendation
regarding any particular security or course of action; readers are
strongly urged to speak with their own investment advisor and
review all of the profiled issuer’s filings made with the
Securities and Exchange Commission before making any investment
decisions and should understand the risks associated with an
investment in the profiled issuer’s securities, including, but not
limited to, the complete loss of your investment.
NNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E the Securities Exchange Act of 1934, as amended and
such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. “Forward-looking statements” describe future expectations,
plans, results, or strategies and are generally preceded by words
such as “may”, “future”, “plan” or “planned”, “will” or “should”,
“expected,” “anticipates”, “draft”, “eventually” or “projected”.
You are cautioned that such statements are subject to a multitude
of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks
identified in a company’s annual report on Form 10-K or 10-KSB and
other filings made by such company with the Securities and Exchange
Commission. You should consider these factors in evaluating the
forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this
release are made as of the date hereof and NNW undertakes no
obligation to update such statements.
Source:
NetworkNewsWire
Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Foresight Autonomous (NASDAQ:FRSX)
Historical Stock Chart
From Apr 2024 to May 2024
Foresight Autonomous (NASDAQ:FRSX)
Historical Stock Chart
From May 2023 to May 2024