Amazon could have yet another major competitive advantage if its drone delivery service takes off, but watching quadcopters drop packages in your backyard is still years away, Patriarch Equity CEO Eric Schiffer said Friday.
The CEO of the private equity firm was interviewed by CNBC's "Tech Bet" a day after the Federal Aviation Administration announced that Amazon's drones have been cleared for testing.
Amazon's drone delivery could be a quicker option than those of its online competitors, and Amazon will be allowed to make drone deliveries sooner than other retailers because it has already been working on that technology, Schiffer said.
Read More
"This is where the war really will be … to give the consumer that instant ability to get what they want right in the time frame that they want it," Schiffer said. "And people in this Internet generation are looking for speed."
The FAA issued Amazon an "experimental airworthiness certificate" to test the drones, and it requires the unmanned aircraft to stay in sight of certified private pilots.
Among other requirements, the drones will have to fly at a maximum of 400 feet during daylight.
In order to be an effective delivery option, Amazon's drones would have to be autonomous, Schiffer said.
