Four Fintech Trends to Watch in 2019

FinTech In The Near Future

Financial technology continues to witness accelerated growth, giving a lot of people excited. So far, advances in fintech have changed the way we carry out transactions and created a vibrant, productive, and robust fabric that serves as a springboard for further development.With more technologies emerging and more areas ripe for fintech disruption, this trend is set to continue in 2019, giving us plenty of exciting possibilities to look forward to.

  1. Faster and Safer Payments

The payments ecosystem is set for unprecedented transformation in 2019, thanks to the emergence of new technologies such as contactless cards, which allow shoppers to tap the plastic at the point of sale to complete a transaction. With this technology, consumers do not have to swipe, sign, or dip to pay for goods.

The entire payment process only takes a few seconds, making it more convenient and faster than EMV cards. While contactless payments are sometimes perceived as riskier than their older, slower predecessors, the New York Times noted that they are significantly safer than magnetic stripe cards. This is because they are equipped with multiple layers of security that help keep cardholders safe from fraudsters.

  1. Voice Technology in Banking

Another innovation that is expected to have an impact on the financial services landscape is voice technology. Currently, voice technology is still in its nascent stages, as it is presently used only for simple tasks like bills payment, checking balances, and tracking spending.

However, it is widely believed that 2019 will mark the period when people become increasingly accustomed to giving spoken commands to banking tools. As the mass public feel more comfortable with this technology and fully embrace it, it is only a matter of time before it is used in executing more critical tasks such as transferring money.

  1. Mobile Banking Will Keep Rising

The advent of mobile devices has completely revolutionized how brands and consumers interact with each other. The convenience, functionality, and accessibility of smartphones make them increasingly important in the financial arena, especially in today’s busy world where customers barely have time to visit a physical bank location.

So it is expected that financial institutions will continue to capitalize on the huge consumer appetite around mobile devices to build closer relationships with their clients in 2019 and beyond.

  1. The Arrival of Cloud and Quantum Computing

As far as financial services firms are concerned, the most efficient approach to banking is that which allows them to compute a transaction or come to a decision as fast as possible. Enter Quantum Computing, the technology based on the principles of quantum theory. This innovation enables institutions to process transactions, trades and other types of data as fast as possible.

As a result, it is increasingly attracting the interest of financial institutions seeking to leverage its high computing power to solve problems that require the use of complex algorithmic models to determine a possible outcome. Hence, experts believe the quantum computing will be increasingly important going forward.

Currently, use cases of quantum computing are in the area of investments, where banks are increasingly relying on the technology to improve risk analysis and assessments so that they can better predict how portfolios will perform under different circumstances.

Cloud computing enables banks to build new applications and introduce internet services that will help improve the customer experience. We expect this trend to continue in 2019.

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2019 Banking Industry Outlook 6 themes driving banking industry trends counting the Costs of a Data Breach

 

Banking And Technology

For 2019 and past, banks must contend with many issues engaged to regulations and legacy systems, upsetting models along with technologies, new challenge, and an impatient customer base while chasing new techniques for lasting growth. Our 2019 Banking Industry Outlook inspects the six macro themes from customer centricity to cyber risk facing all the industry’s five primary business portions in the coming twelve to eighteen months. Companies that can address these issues opportunities to effortlessly balance long-term goals with short-term performance pressures might be amply compensated.

There is considerable opportunity for banking institutions on the coming year, but lasting development will probably rely on navigating 6 dominant themes.

The banking industry comes in 2019 having a fresh air of careful confidence among clouds of policy doubt. Today, the clouds have cleared a little. For banking institutions around the globe, 2019 might a crucial year for accelerating the change into more strategically minded, digitally connected, and operationally agile organizations better equipped to maintain market leadership in an ecosystem that is rapidly evolving.

But this present year also promises multiple challenges, including complex and diverging regulations and legacy systems, troublesome models and also technologies, new competitors, and an often restive customer base with ever-higher anticipations. For banks’ 5 company lines retail banking and corporate banking, capital areas, payments, and wide range management 6 broad themes might be particularly critical for sustainable long-term development into the coming twelve to eighteen months:

Customer-centricity: True customer centricity is certainly a Holy Grail for banking institutions, which have made notable strides in moving away from sales-dominant countries. But clients objectives are evolving at a much faster speed, many thanks in particular to the superior experiences they enjoy with other industries. Being alert in experience delivery is as essential today as aiming at right areas as well as right consumer segments with all the ideal resolutions.

Financial Technology and Banking

Fintechs and techs are going to have a very strong impact on banking in the near future . Banking institutions can learn from fintech firms, which have set a benchmark that is new surpassing customer objectives in financial services. Fintechs have changed the direction of innovation in banking. However, incumbent institutions that are financial likely to keep their dominance offered their scale of operations, regulatory barriers to entry, and customers’ reluctance to change. That does not mean that banks should lean on their market laurels, but just the opposite. Rather, they are able to discover techniques to improve the customer experience. Banks could reproduce just what fintechs are doing, collaborate with them, or obtain them. Moreover, banks could take an expansive view of competitive benchmarking to consist of the most beneficial in class fintechs along with big tech companies.

Tech Administration

Technology administration. As much as banks may wish they might, discarding legacy systems just isn’t an option. Modernizing the main generally seems to be considered a concern on par with buying a profile of new technologies for example Blockchain as well as robotics and intellectual automation. There exists a lot to be done, as well as it is not going to be easy. Banks can aim to strike a balance between retaining competitively differentiating activities in-house as well as others that are externalizing. By 2020, technology units inside banks will possible start making changes by themselves from running platforms to arranging technology information flows across most of the stakeholders.

 

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5 Top Financial Technology Trends

Lately, there has been a lot of buzz in the financial services space over the quick and radical changes in the sector brought about by its shift to a new, digital model that will fundamentally transform everything.

In this piece, we take a look at the trends shaping the financial services industry to bring you up to speed on events.

  1. Digital Transformation

Our world is becoming very tech-inclined with a growing reliance on technology and online resources. This, coupled with increased competition from fintech and regtech firms whose business model revolves around a variety of new technologies has forced traditional financial institutions to invest in digital technologies to remake processes and become more efficient.

  1. Artificial Intelligence (AI) and Blockchain

AI and Blockchain continue to expand the frontiers of technology, enabling companies to solve even harder problems and disrupt the financial services landscape with huge competitive advantages. AI, for one, is taking the financial services industry by storm.

Several financial services firms now rely on artificial intelligence to cut cost, save time, and add value. For instance, wealth management institutions now use robo-advisors to analyze and understand client investment, spending, and general behavior regarding money management so they can customize the advice offered to customers.

Similarly, the blockchain, the technology which runs cryptocurrencies, continues to power innovation in the financial services sector. It offers an opportunity to speed up and simplify cross-border payments, ensure greater trade accuracy, improve online identify management, and ensure transparency in financial operations.

Through smart contracts, transactions and agreements are executed automatically once the conditions coded in them are satisfied. This help eliminates the need for an intermediary and leads to a reduction in cost.

  1. Digital-Only Banks Influence in the Financial World Continues to Grow

Digital-only banks and fintech companies are threatening to replace traditional banks as the focal point of the banking experience. As technological advancements continue to expand and consumers become more comfortable using the internet, their expectations for instant and straightforward digital interactions will continue to increase.

By their very nature, digital-only banks possess the tools necessary to offer consumers what they expect and prefer. Not operating from any physical location means they attract low transaction cost, which allows them to distribute resources better to provide customer experiences that are uniquely differentiated.

For instance, DBS Bank, a Marina Bay-based digital-only bank offers up to 7% interest rates on savings accounts, unlimited access to ATMs, zero balance requirements, etc., all of which can be difficult for legacy organizations to provide.

  1. Big Data Continues to Drive Modern Business Operations

Organizations continue to find new ways to leverage big data. This data now enables companies to create real competitive advantages by providing large amounts of information to assist with their research, marketing, etc. It is predicted that the Internet of Things will make big data even bigger by providing plenty of storage space as well as by offering the big data itself.

  1. Banks and Financial Institutions Embrace Cloud-Based Offering

Cloud innovation has been a thing in the financial services industry for a while now. However, it wasn’t until recently that banks started to embrace it. The innovation was generally not well received by traditional banks due to security issues. Brick and Mortar institutions feared that entrusting data to cloud will make it more susceptible to hacks.

Today, however, the technology is becoming more widely accepted, as banks now use cloud computing for non-critical functions like email, human resource, customer relationship management (CRM), customer analytics, as well as for development and testing.

Businessman hand working with a cloud computing diagram on the new computer interface as concept

 

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Futuristic Plans For Delivery Systems

Jeff Bezos, Amazon’s CEO announced pretty surprising news to correspondent Charlie Rose. They spent at least 60 minutes talking about different projects, after which Jeff took Rose into a mystery room at the headquarters of Amazon. It turned out to be the room keeping the secrets of the so-called Octocopter R&D project. These are drones which are designated to fly packages directly in front of your doorstep. And, the shocking announcement – this will happen in about 30 minutes.

Of course, this is an audacious plan, and it’s going to require a lot more safety testing and specification analysis than FAA approvals. However, Jeff is positive that this delivery by drone system is going to be integrated and implemented in about 4 to 5 years from now. Customers will be capable of taking advantage of the so-called “Prime Air” service – this is how Amazon wants to name it.

A Moment of Surprise

When Charlie Rose walked into the R&D room and managed to see the drone which was the initial design for the Prime Air program, he was utterly excited. It was quite clear that Amazon representatives are looking for a new sensation to bring in front of 60 Minutes, but the achievement was genuinely surprising and impressive.

60 Minutes even reported that the CEO of Amazon himself built up the surprise during the actual breaks of the filming of this particular segment. He even teased reporters by asking them to guess what the surprise actually was. If they had guessed it, Bezos would give them half of his fortune and send them off directly to Vegas, he joked.

Further Development

After the utter surprise, Jeff also played a demonstration video for the team of 60 Minutes which showed the entire process of the picking up and dropping package by the drones. They used small yellow buckets from the fulfillment centers of Amazon and would whiz through the air in order to deliver different items to separate clients no more than 30 minutes after the latter had clicked on the buy button on the website.

The technology is particularly amazing, and it could be a revolution in the delivery business. Not only is it going to make delivery positions excessive and unnecessary, it’s going to automate the entire segment, hence allowing companies to be a lot more flexible. This is also going to benefit the end customer a great deal by ensuring timely deliveries and absolutely no hassle, whatsoever. With all this in mind, it’s important to understand that this could truly be the next big step in the delivery niche.

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How Artificial Intelligence (AI) is Transforming Mobile Technology

The Future of Smartphones

Artificial Intelligence is making its way into almost all areas of modern life. From monitoring fraud to powering virtual assistants, autonomous cars, and airline autopilot, the impact of AI in everyday life is far-reaching than you might think. Now, the technology is fast becoming one of the highlight features of smartphones, making our handy devices smarter than ever.

In this post, we look at how artificial intelligence will drive transformation in smartphones. But before going on to discuss the fundamental changes AI will bring to mobile devices in more detail, we will, first of all, explore what artificial intelligence is and why it has become so important.

What is Artificial Intelligence?

Artificial Intelligence refers to the simulation of human intelligence processes by robots. It involves the development of programs that can process information, and respond in a way which is closer to human reasoning. These machines “think” like a human and behave in the way a person would.

The applications can perform a variety of tasks mostly observed through human intuition such as problem solving, knowledge gathering, and logical reasoning. As a result, businesses use AI to collect information that enables them to deliver more personalized, predictive experiences, and smarter customer engagement, which consumers expect. Smartphone manufacturers now deploy the technology in a bid to make their devices more “intelligent.”

Artificial Intelligence and Smartphone Camera

One of the areas AI will have the most impact on smartphones is camera. AI is used on smartphone cameras for scene recognition, facial recognition, as well as photo sorting. For instance, the A12 Bionic AI processor in the iPhone XS enables the smartphone to recognize the environment as quickly and accurately as possible. On its part, Huawei’s new Kirin 980 processor, which is featured on the Huawei Mate 20 (Pro), offers facial recognition, direct translation on the phone, as well as scene recognition capabilities. Another Huawei device, the Honor 10 features a program that can split pictures into many areas and then edit each section individually via the application.

AI and Phone Battery

Android and DeepMind have joined forces in a bid to improve phone battery life. The team developed an AI-packed feature called “Adaptive Battery,” which monitors your device’s battery consumption and automatically close apps running in the background that you rarely use.

AI and User Interface

AI will make it possible for you to have more convenient smartphone experiences. Already, the newer version of Android uses machine learning to suggest apps to you based on your habits so that you can proceed quicker and with much more efficiency. The system anticipates your next action based on the current action and suggests a shortcut to take you to an app quicker.

AI, Smart Display, App Slices, and Smart Reply in Notification

Google is leveraging AI to create a more robust experience for smartphone users. App Actions and Slices allow Android users to perform tasks outside of an app without necessarily opening it. The feature provides a smaller version of a preloaded app inside Google Search, providing specific app functions that let you execute tasks without having to open and operate the full application.

Similarly, the smart reply in notification feature allows you to type replies directly from the notification area without the need to open and operate the full application. Another feature that benefits from the integration of AI in smartphones is Adaptive Brightness. Android now uses AI to learn from your manual screen adjustments to automatically tailor screen brightness to levels that are best suited to you.

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How Nanotechnology Could Change the World

 

Nanotechnology is one of the most exciting and promising technologies available today. It drives innovation in a variety of sectors and allows industrial designers to create entirely new properties through the controlled manufacture and structuring of materials.Of late, the technology has been applied in many sectors, and it has opened the doors of implementation in many other areas where it will play a significant role in shaping the future and growth of the world.As scientists continue to experiment the many new ways nanotech will bring about a positive outcome, we look at some of the applications that will have the most impact in the world.

What is Nanotechnology?

Despite the hype surrounding it and its perceived potential for many diverse fields of science, nanotechnology can be difficult to comprehend. This is not surprising considering it’s a wide field. Nanotechnology refers to a technology that involves working with materials at the scale of one billionth of a meter. In other words, it relates to a technology that is between 1 to 100 nanometers in size. The prefix “nano” refers to one billionth. Nanotechnology scientists use atoms and molecules to make amazing new technologies that help improve electronics and nearly all aspects of modern life.

Benefits and Applications

Nanotechnology has several advantages and applications across a range of industries:

  1. Treating spinal cord injuries

Nanotechnology has shown significant potential in the treatment of spinal cord injuries. Scientists at the Institute of BioNanotechnology in Medicine at Northwestern University have shown that nanotechnology can be used to stimulate the body to heal itself by injecting “molecules that were designed to self-assemble into nanostructures in the spinal tissue.” When injected into the bloodstream with a syringe, these molecules repair damaged neurons, preventing the damage caused by inflammation and scarring.

  1. Heal injuries and restore organ function

In addition to being a breakthrough in the treatment of spinal cord injuries, nanotechnology offers exciting results when it comes to repairing injuries and restoring aging tissues. Scientists at The Ohio State University developed a new technique, called tissue nanotransfection, which helps to turn skin cells into other types of functional cells that can then be used to repair or restore function to damaged tissues such as nerves, blood vessels, and organs, among others.

The procedure uses a tiny device that is placed on the surface of the skin to replace injured or compromised organs by incorporating some new genes into them. Using the technology, the researchers successfully fixed mice that had lost blood flow to their legs within 14 days. Plans are underway to start clinical trials in humans as soon as possible.

  1. Generating electricity from motion

Researchers at Vanderbilt University developed an ultrathin device that produces electrical current from human movement. The device, which is made up of layers of very thin black phosphorus and is powered by battery technology, harvests energy when it is pressed or bent during human motion.

When the black phosphorous nanosheets are bent or pressed, this action produces an electrical current that is then tapped and stored in the battery. This has been made possible by the thin size of the sheets, which makes it easier to incorporate them into clothing as well as the ability of the nanosheets to harvest energy at low frequencies. The nanosheets can generate electric current at movement speeds as low as 0.01 Hz.

This means that energy can be harvested from one movement cycle every 100 seconds from everyday activities such as walking, sitting, and standing. The Future is in Nanotechnology Globally.

 

 

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How 5G Will Impact Communication and Industry

 

As the next generation superfast wireless networks technology, 5G promises to change our lives fundamentally. The network is expected to have much higher speeds and capacity that allows files to be downloaded in the blink of an eye.

Beyond this, 5G will play a significant role in shaping the cities of tomorrow by powering other technologies that will revolutionize communication, enable travel, learning, and innovation. From The Internet of Things to smart homes, self-driving cars, Telemedicine, Virtual and Augmented Reality and everything between, the wide-scale deployment of the 5G network will drive the reinvention of several businesses and consumer applications.

Its impact is expected to be significant, as an IHS Markit report estimates that 5G will boost the global economic output by $12.3 trillion by 2035.

5G and Communication

As the 5G network makes higher transfer speeds and lowers network latency a reality, it will bring about significant improvements in communication. The faster speeds and much greater network efficiency will make communication a breeze, while the significantly lower latency will significantly improve response time.

Because 5G can send and receive signals almost instantaneously, individuals and businesses will have instantaneous communication with co-workers, friends, or clients, and not have to contend with dropped calls and poor connections. 5G will also be able to connect many pieces of devices, from phones, to computers, to security cameras, and several other types of equipment.

Also, the mobile network is expected to offer mobile internet speeds of more than 10 gigabits per second (Gbps), which is about a hundred times faster than the 4G can provide. This will mean a 5G user could download a feature-length movie in High Definition in less than five seconds.

How the 5G Network Will Impact Industry

The Internet of Things World Wide

Outside of communication, 5G is expected to bring about a widespread implementation and adoption of the Internet of Things (IoT). This could greatly improve the interconnection of devices and their ability to collect, transmit and store data, which will have obvious advantages for industries like manufacturing that increasingly rely on the IoT to connect their processes and factories digitally.

An improvement in IoT will bring about direct benefits such as a reduction of operating costs, an increase in productivity and efficiency, as well as enhanced workplace safety. The capacity to collect, monitor and analyze data from social media, video surveillance, mobile and internet usage will also enable businesses to understand consumer behavior better and improve customer service delivery.

The impact of 5G on IoT will mean that work can be completed in time, more efficiently, more flexibly, concurrently, and in a safer and more environmentally friendly manner.

It is believed that 5G will also have significant impacts on self-driving vehicles, remote healthcare, virtual training, innovative classroom learning, Financial Markets run by robotics, and new military capabilities.

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Robots Are Taking Over Human Jobs on Wall Street

STEPHEN HAWKING WARNS ARTIFICIAL INTELLIGENCE ‘MAY REPLACE HUMANS’

Quote by Stephan Hawkins:

“If people design computer viruses, someone will design AI that improves and replicates itself. This will be a new form of life that outperforms humans.”

The rise of Machines and AI is Fast Approaching

The rise of the machines was always going to come at a cost, as each wave of technology destroys what has been put in place. The frenetic pace of technological development in the areas of artificial intelligence and robotics is causing massive shifts in the finance industry.

The impact is already being felt on Wall Street, where there have been far-reaching and significant changes, with technology eliminating many jobs by replacing hundreds of humans with either robo-advisers or software.

Many investment banks and big institutions, in a bid to cut cost and improve efficiency, use AI to automate financial tasks usually undertaken by humans, such as wealth management, operations, risk management, and algorithmic trading.

One of the areas that the Wall Street has seen the greatest disruption of robotics and AI is the execution of buy and sell orders, where robots carry out between 50% to 60% market trades, according to CNN, citing data from Art Hogan. Hogan is the chief market strategist for B. Riley FBR.

The preference for technology over human traders is premised on the inability of the vast majority of traders to act consistently rationally when trading. Often, people fail to control themselves, allowing emotions to get in the way of their thoughts and actions.

Machines don’t suffer from these psychological issues when a major trading decision is being made. This is because they remove emotion from short-term trading activity, allowing for a more objective approach to trading.

Laying a Claim to the Future of Investing

Artificial intelligence and robotics is fast advancing into the investment sector, where its incredible ability to learn and think will eventually make them the most advanced and complex investment systems capable of helping corporations to make more efficient and effective choices.

For instance, advisory bots are increasingly being used by companies to assess investments, deals, and strategies in a fraction of a second, much faster than any human quantitative analysts using traditional statistical tools.

Such is the growing dominance of robots in the finance industry that former Barclays boss, Anthony Jenkins warned they could displace half of the workers in the banking sector, and lead to branch closures.

Activities such as calculations based on structured data and other repetitive support tasks are the most susceptible to automation because robots are well-suited for them.

There’s Still a Place for Humans in a Robotic Wall Street

While AI is probably the most robust technology there is today; its ability to perform complex tasks is limited. Trading machines can only learn historical data and trade patterns. However, stock market behavior changes all the time and computers can be less adept in the face of unexpected market performance.

Humans can easily adjust themselves to these changes. Getting the robots to do the same, however, will require changing their algorithms, which can be too expensive and time-consuming. For this reason, humans will always be a step ahead and remain relevant.

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3 Wireless Networking Tech Trends of 2019

 

The New World of Wireless Technology

We live in an exciting time, where the rapid growth in the demands for wireless data is increasing at a staggering rate, creating a need for much faster and more robust internet connections. As a result, corporates are harnessing wireless technology innovations to build infrastructures that meet the requirements of modern life.

In this article, we look at some of the emerging wireless tech trends that will further open up our world to richer data and video experiences.

  1. Millimeter Wave (mmWave)

Wireless communication networks have evolved dramatically over time. From the first generation (1G) through the fourth generation (4G) advanced digital technologies, wireless networks expansion has brought with it significant improvements.

However, the increasing demand for bandwidth and advances in technology means that not even the most advanced modulation formats will ever be enough. This is especially true when you consider that wireless communications generations 1-4 have had to work with limited bandwidth over their lifetime.

For instance, the 4G connectivity, despite being equipped with Long Term Evolution (LTE), LTE advanced digital technologies, wired Ethernet, and fiber-optic cables is fast running out of bandwidth. As a result, the 5th Generation wireless technology (5G) is expected to add more bandwidth by leveraging the millimeter wave frequency range (24, 28, 38) to ensure near zero-latency phone calls and significantly high data speeds.

Given the enormous amount of bandwidth available at millimeter-wave frequencies, we expect the technology to make inroads into the mainstream in 2019 as we brace for the launch of the 5G.

  1. Edge computing to become prevalent technology

Today’s networks are becoming increasingly too complex for humans to understand or fix while maintaining or increasing ROI. This, coupled with the ever-growing volumes of data from machines, the rising cost of compute and sensors, among others, necessitate the use of edge computing to provide real-time local data analysis.

In edge computing, data is processed by a local computer, server or by the device itself, rather than being transmitted to a data center. This help ensures real-time data processing without latency and enables smart applications and devices to respond to data almost instantaneously, eliminating lag time, which is essential for technologies such as self-driving cars. Edge computing will also become critical in the next generation 5G connectivity

  1. The rise of one-stop wireless security as a service

With the advancement in technology, the presence of hackers and other cybersecurity threats are also on the rise. Concerned about the increase of digital threats they are experiencing; security leaders are continually seeking ways to enhance data security through a capable, automated wireless threat detection system.

One-stop wireless security as a service is seen as the complete solution needed to address this challenge due to its incredible ability to uncover vulnerabilities and prevent attacks. We expect this service to become more widely implemented by companies and government organizations in a bid to forestall all cyber attacks.

 

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Apple Still working on Ambitious Self Driving Car Project

 

Apple Advances on Self Driving Car

What was once human fantasy may soon become the norm. Self-driving cars are becoming increasingly common to see on the roads nowadays. And as they hit the streets in growing numbers, one company is making efforts to ensure driverless vehicles do so in style and with as less trouble as possible.

Last year, Chief Executive Officer of Apple Inc., Tim Cook dismissed reports saying the company was building its own self-driving cars, claiming instead that his firm was working on “autonomous systems” that will power a range of different products. However, it has since become clear that Apple is indeed working on an autonomous vehicle of some sorts under the name “project Titan.”

A Cleantechnica piece claims that Apple’s self-driving car project is still in the works. The California-based company is said to have brought more people on the self-driving car project, including a Waymo engineer, Jaime Waydo. Apple also hired another notable personality in the person of John Gianandrea, a former Google executive and AI expert.

Ambition

The emergence of Tesla, Waymo, Uber and Google’s ambition to push the limits of innovation to deliver maximum comfort for passengers has led to breakthroughs in the quest for self-driving cars. Recent events suggest Apple hopes to join the train by manufacturing a driverless vehicle of its own.

If Mr. Cook’s earlier submissions are any indication, then Apple will stop at nothing until it has realized its goals. The CEO had stated that Apple’s then new self-driving technology was the “…mother of all AI projects,” which is “is something that’s incredibly exciting for us.”

Considering it’s a big rich company with a vast amount of resources and influence, there’s little to suggest that Apple’s Project Titan will be anything other than a success. The organization has all it takes to lay its hands on the right technology and attract the best brains to help speed up the project.

Steady Progress

It is not yet clear what form Apple’s self-driving car initiative would take. For now, however, it appears that the company’s autonomous driving team will concentrate their efforts on building self-driving employee shuttles in collaboration with Volkswagen, according to The Verge.

The tech giant settled for Volkswagen after talks regarding partnerships with Mercedes-Benz and BMW ended, per New York Times. It would be recalled that Apple obtained permits to test self-driving vehicles in California in furtherance of its driverless car ambition sometime in 2017.

The Drive reported that the company’s fleet of self-driving cars registered with the California Department of Motor Vehicles has grown to 55 cars. This makes Apple the company with the second largest fleet of autonomous vehicles in California after General Motor’s Cruise.

It may not be there yet, but Apple seems to be making continued progress with its self-driving car project.

 

 

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