The Expected Winners and Losers in the Coming Driverless Car Revolution

The Expected Winners and Losers in the Coming Driverless Car Revolution
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The automobile industry has come a long way, especially judging from the fact that the first car emerged over a century ago. The rapid launch of the motor vehicles was attributed to certain factors such as the call for public safety and health. At that time, horse droppings and horses themselves caused of deadly accidents and road pollution. In addition, carriage drivers often rode their animal-drawn vehicles while drunk.

Currently, history appears to be repeating itself, as advocates of the shared, electric and autonomous vehicle are using the same arguments behind the launch of the first car. According to the late head of Smart Cities Group, William Mitchell, the group was already working on small electric vehicles that could be parked like shopping carts, the CityCar concept, ten years ago. With numerous projects signaling the end of private or personal cars today, we cannot help to wonder the unlimited impacts of robot cars in our lives even though we will have to wait for another one, two or three decades.

Negative Impacts

For known reasons, the car industry is at the receiving end of the oncoming changes. In fact, various manufacturers are already experiencing the initial effects, mainly due to the entry of leading digital companies into their space. As such, car manufacturers have been forced to start shifting more towards services and software and reviewing of their investment policies as well.

Mechanics make up another party that will be affected by the robot car revolution, especially if autonomous vehicles manage to minimize car accidents significantly. Car dealers and rental entities will also experience the effects due to the elimination of personal cars. Moreover, public works companies will be required to adapt to the changes by creating suitable sidewalks and roads, as well as installing streetlights for the pedestrians as opposed to car drivers. Likewise, insurance companies are expected to take a massive blow for instance, due to the downsizing of the car insurance market.

Positive Impacts

Conversely, the entertainment, publishing and media sector is eagerly waiting for the revolution to take place. Companies in this sector expect to rake in considerable profits from the increased time spent online by the public. As far as urbanism and real estate are concerned, players in these fields will benefit from the increased available space for development after parking lots become useless.

With vehicles being a guaranteed income source in most nations around the world, the tax system will need to adapt to accommodate the impending change. Although this phenomenon is still fiction, the best way to prepare for it is to adjust early enough before things speed up.

Original source Worldcrunch

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