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Self-Driving Cars are Already Changing the Automotive Industry
David Silver, Head of Self-Driving Cars, Udacity
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Pete Kelly, Managing Director, LMC Automotive
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Gary A Silberg, Head of Automotive, KPMG LLP
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Radovan Miucic, Technical Fellow/Team Lead, Changan US R&D Center, Inc.
Predictive Impacts of Autonomous Vehicles
Autonomous vehicles cruzing past human-driven cars would soon be a realty . Self-driving cars are going to be an inevitable part of smart cities. Humans have strived from long to develop and use fully self-driven vehicles that are safe, secure, and comfortable. Automotive companies have stride for the same; still, a fully functional real-world model has not made its way into the market. Autonomous vehicles are evident to revolutionize the ways of living and lay grounds for new breakthroughs.
At first, for autonomous vehicles to function to their best would require an upgrade in the town planning. Parking spaces will witness a shift from houses, office apartments, densely centralized parking space to remote areas. Assumptions are made that even a gradual shift from personal vehicle to subscription vehicle would be observed as users would easily be able to access the vehicles at any point in time without the need to drive them back to parking spaces.
Advent of autonomous vehicles will rejig the working of the transportation industry. No longer will there be a need of drivers to securely deliver packages. Delivery time will also shorten as vehicles would not require breaks like humans. Technological advancements will allow machines to optimize their resources and bring the best out of them. Delays and accidents lead to huge economic loss, which autonomous vehicles would put a stop to.
Accidents, one of the major reasons for loss of life, happen mostly because of human error. Self-driving cars have the potential to eliminate accidents. Integrated with cutting-edge technologies such as IoT and artificial intelligence, self-driving cars will have complete knowledge of their surroundings which will help them to eliminate accidents. Expenditure over health recovery and death claims caused by accidents will also reduce drastically.
The automotive industry is certain to be impacted the most. Major shift from private to public vehicles will be observed. Also, the ROI of self-driving vehicles could be high leading to low cost of vehicles and increased sales.