There's huge potential in autonomous driving — even if it's not likely to become a widespread reality for years to come, according to an executive of Chinese venture capital fund Fosun RZ Capital.

Driverless cars could have a big impact on the way people live and get around when they finally take off, Grace Liu, the co-chief of Fosun RZ Capital told CNBC's East Tech West conference in the Nansha district of Guangzhou, China on Wednesday.

"For autonomous driving to come true for all scenarios, all conditions, it will be difficult — maybe 5 to 10 years," Liu told CNBC's Deirdre Bosa.

But she said the industry had "big potential," with companies like Alphabet's self-driving car company Waymo already able to provide such services from point to point.

"Autonomous driving is a big market. Once it comes true, it will affect many people's lives. It will affect our way of transportation. So I think it's still great potential," Liu said.