Many marketing and technology firms are making predictions for how many autonomous cars will be on the road. This new technology is slated to change many things that we have all come accustomed to, from car insurance to fast food. This has many people worried, for this could mean that their industry will go under, or that they will have to retrain to adjust to the wake of change autonomous cars are going create. Let’s take a look at some of the top predictions that are currently being circulated.
How many cars will be autonomous?
It is estimated that there are over 1 billion cars on the road in the world. Transitioning to a global world of autonomous vehicles will take time, but perhaps not as much time as you might think. In the article “10 Million Self-Driving Cars Will Hit The Road by 2020—Here’s How To Profit,” the author, Olivier Garret, calls his 10 Million estimate “conservative.” The reasoning for this assertion is due to the accelerated speed in which new technologies are being adopted. The time frames have been compressed, resulting in quicker adoption times, which perhaps means there will be more autonomous cars on the road by 2020 than we can predict right now.
What industries could be in trouble?
There are many potential good things that will come with autonomous cars, however, there will also be tradeoffs. One of the major ones is the shrinking of certain industries. The top industries that can be affected include Automotive Insurance, Truck Driving, and Fast Food.
It is believed that autonomous cars will be safer, and as a result, will lead to less auto-related deaths and accidents each year. As such, the automotive insurance industry will suffer a huge loss with many people dumping their insurance policies as liability gets shifted to manufacturers.
Uber has already revealed its plan to have a fleet of self-driving trucks, potentially removing the need for truck drivers. This is part of the debate when it comes to artificial intelligence, for the fear is that although it makes our lives more efficient and safer, it could mean more people out of work. With this discussion comes the idea to implement a major retraining program so that people don’t get left behind.
Lastly, and perhaps one of the most surprising, is fast food. Coupled with the idea that autonomous cars will reduce the demand for gasoline, people will no longer be stopping off the freeway to refill their tanks and stomachs. Food choice will become more about quality and choice rather than about convenience, which could impact the fast food industry significantly.
How about your wallet?
The potential savings that people can reap from autonomous cars is substantial. With autonomous cars, it is estimated that households will have fewer cars. Once mom or dad get dropped off at work, the car can return home and take others to their destination, reducing the need to have multiple cars.
With services like Uber and Lyft, this gave individuals alternate transportation options when they want to go out with friends. Autonomous cars will give people the option of getting around town without having to worry about checkpoints anymore. This can reduce the number of fatalities and arrest that happen as a result of someone getting behind the wheel while intoxicated.
As mentioned before, the need for automotive insurance will potentially be removed. This could mean hundreds of dollars saved each year. Furthermore, with safer transportation, this could also affect health insurance, which could also mean greater savings each month for households.
The Wheels of Change Are Turning
With anything new, there is always a juxtaposition of fear and excitement. This new technology will change everyday life, from how we work to how urban designers build cities. This could even mean a shift away from the high school dream of “the first car.” The necessity of learning how to drive a car manually will perhaps move into the realm of a hobby, changing the teenage experience of future generations to come.
