The race is on to build the world's best autonomous ride-hailing service.

Ark Investment Management was founded by seasoned investor Cathie Wood, and it manages around 10 exchange-traded funds (ETFs) that focus on innovative technologies. Each year, the firm releases a new edition of its "Big Ideas" report, and the 2025 version discusses how autonomous vehicles could turn ride-hailing into a $10 trillion industry over the long term.

Tesla (NASDAQ: TSLA) is a leading developer of autonomous technologies. Its new Cybercab robotaxi is scheduled to enter mass production next year, and CEO Elon Musk wants to create a ride-hailing network to autonomously haul passengers around the clock.

However, Tesla might be behind the curve. Uber Technologies ( UBER -0.14% ) operates the world'

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