Is the World Ready for Driverless Cars?

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March 4 (Bloomberg) -- OurCrowd Founder and CEO Jon Medved discusses advances in auto technology on Bloomberg Television's "In The Loop." (Source: Bloomberg)

The coolest of consumer electronics.

It is a little cooler than the car technology these days.

It is becoming real business.

It is the leader in collision avoidance technology.

What they do is they have a little chip which teaches the car to recognize -- tesla is partnered with mobile app.

They are partnered with the majority of carmakers worldwide.

The guy is now on to his next company, these glasses that let the blind essentially see.

Vision and robotics in israel in terms of autonomous driving vehicles and john technology is off the charts.

Absolutely.

This time, it might be more made.

Elon musk, he was speaking about technology.

We are continuing to build on that expertise.

We expect to be the first company market -- to market with autonomous driving functioning in the vehicles.

That was a surprise.

He just sort of dumped right in the middle of the interview they were working on this.

It is kind of a race to see who is able to perfect the technology.

He says he will be first.

To me what is more interesting is not the car you get and start checking your e-mail or read the paper, but the steps where we take the driving experience and add more help to the driver and we see the very aggressive ways with every release of every model.

Class apple is doing something.

Yes.

There is actually great work going on in terms of automation inside the car.

One of the big problems is voice in the car.

The background noise.

How do you talk to syria?

We have a company called vocal zoom.

It turns it on their ear.

They use in opticals signal to measure the vibrations of your face and then they correlate that with the audio signal.

The amount of things you can begin to do not just in terms of collision avoidance, but in terms of it hooking up the car to the internet of things, the big new buzzword, the future.

A number of cars from mercedes and ferrari and honda, with apple ios interface.

On a touchscreen, that will connect to the iphone on your car, and allow you to do things like use serious and use other maps.

One of the interesting things about serious it is an innovative morning till.

It might've been crummy but he continues to get better because it learns from every use.

They probably thought of this as a vehicle built-in device but knew it would take some time to get the excellence and safety required for the vehicle.

I am just seeing on my screen, same sussed -- same subject, the cfo is retiring.

He been cfo for a while now.

Eight years or so.

Probably boatloads of money.

Classic and use that money to invest in startups.

I have a theory just getting back.

This is what i think about when i'm not on the show.

I am really worried.

[laughter] with all the technology going into the cars, the car industry, it means more turnover or that owners will release more, or they will turn over their cars a lot more.

From the development side of things, you have seen major automakers.

Ford was the first one who got this.

Mercedes has done this as well

This text has been automatically generated. It may not be 100% accurate.

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