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The second annual Tesla AI Day will take place on September 30. The event will show that the manufacturer is and will be years ahead of its competitors, says Loup Funds.

The second Tesla AI Day will take place on September 30. CEO Elon Musk said that its main goal will be to attract talent, but in the process, the manufacturer will demonstrate progress and a long-term vision for the topic of AI. Loup Funds wrote its vision of the situation in a note to investors.

Gene Munster and Rebecca Mulberg wrote that AI Day II is already a win for Tesla. As investors, they believe that AI Day will be filled with both complex technical talk and Musk's positive comments. However, the bottom line is something else: “Autonomy is coming, and no other automaker has made the progress that Tesla has in advancing its potential.” Analysts are confident that in the end, Tesla will get it right and FSD will be released and in this, the company will again be years ahead of its competitors.

Loup Funds acknowledges that Tesla is not yet in a position to provide Level 5 Autonomy and the company still has a lot of work to do to reach the target. The manufacturer constantly releases software updates that bring it closer to this. However, such software will still need to be legalized, which is still difficult. Analysts think it all comes down to “the ‘March of Nines’ theory, suggesting that an autonomous vehicle needs to be right 99.9999% of the time—or, involved in a single fatal crash for every 85 million miles driven—for it to be as safe as a human driver.”

This theory is weighted by the importance of corner cases, which rarely happen on the road. An example of a corner case is a road sign falling in front of a moving car. Belief in the “March of Nines” is holding back the willingness of lawmakers to pave the way for full self-driving (FSD). However, AI Day is a chance for Tesla to show why such cases are less relevant and that better software will save lives, the firm writes.

To achieve Level 5 autonomy, Tesla “collects” data from its fleet of vehicles. The Tesla neural network is trained mainly on images received from cameras. The company's supercomputer, Dojo, uses a variety of inputs, including singular snapshots of a scene, a bird’s eye view, and vector space to train AI. Dojo then makes predictions based on the movement of objects in the 3D image and checks its predictions on its own. This process is repeated over and over again in order to learn pattern recognition and improve prediction accuracy. Dojo can then implement actions such as braking at a crosswalk for pedestrians, the analysts explain.

In addition, Musk hinted that Tesla could have a working Optimus prototype by September 30. While analysts rate the chance of seeing the Optimus prototype running as low, they expect to hear about long-term roadblocks to its arrival, which is critical information.

© 2022, Eva Fox | Tesmanian. All rights reserved.

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