From Bloomberg’s Gabrielle Coppola and David Welch:
Many of the potential data buyers Otonomo has signed are the same ones the automakers talk about: insurance companies, mechanics, gas stations, city planners, fast-food joints. But Wall Street is also on the list of prospective clients.
A few examples: Hedge funds probing the health of the economy want anonymized trunk sensor data to see if you bought anything when you went to the mall, which is a more accurate proxy for consumer sentiment than the satellite photos used today. Banks may want to know if you stopped driving to work, since the loss of jobs in aggregate could mean an imminent downturn. Credit card companies might want to offer you a loan if they know your car broke down.
It’s interesting to think about the potential for Tesla to accrue massive amounts of driving data and what that means in terms of potential opportunities. Driving data can also include terabytes of video footage that is analyzed and processed by AI to give helpful insights for various people and business.