In June 2022, we at MIP assessed the trajectory of the autonomy sector and posited that, despite its transformative potential, the technical maturity of autonomy solutions was not yet at the requisite levels. Furthermore, we questioned whether all applications of autonomy were genuinely addressing a pressing need from the end customer’s perspective. Our stance was clear: Autonomy would be a long-term play rather than a mid or short-term solution.
Our insights were soon reflected in the industry’s developments:
By October 2022, Argo AI, backed by automotive giants Ford & VW, ceased operations.
March 2023 saw the closure of Embark Technology, a self-driving truck company.
In a significant pivot in July 2023, Waymo discontinued its autonomous trucking program, choosing instead to concentrate on ridehailing, which they perceive as a more immediate avenue for commercial success.