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Autonomous Vehicle Adoption Will Affect the Automotive Industry

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After over 30 automotive experts from around the world were interviewed by McKinsey and Company on the potential impact of widespread adoption of autonomous vehicles. It turns out that the effect on the automotive industry, the economy, on how we travel from one place to another, and on society overall are all potentially huge. Here are just a few ways that self-driving cars could impact all of us in Mississauga and Brampton in the future.
Industrial fleets are the first adopters of the autonomous vehicle, and are leading the way in its implementation. From mining to farming, warehousing and the construction industry, the controlled aspects of these environments are enabling savings in labour costs as well as reducing harmful CO2 emissions. Commercial fleets could potentially use autonomous vehicles to deliver parcels, and different companies are now testing driving scenarios and developing software algorithms to become the first players to adopt self-driving technologies completely.
Car manufacturers are being faced with a decision in how to react to autonomous vehicle technology. Some OEMs who are established with strong commercial and technical legacies are introducing driver-assistance systems into their cars, SUVs and trucks, while others prefer to not adopt the technology at all just yet. A third group of followers are already investing in autonomous vehicle research to get on board. There are also high-tech companies who are aggressively developing new architectures for vehicles that are radical and completely different from the current norm.
New models for getting around from one place to another are also being developed with the advent of the self-driving vehicle. Uber recently debuted its self-driving cars in Pittsburgh. Carpooling, peer-to-peer car rentals and pay-per-use vehicle models are all gaining ground as autonomous vehicle technology becomes more widespread. Uber owned Otto vehicles are now hauling beer across wide distances in driverless trucks.
There are other changes in fields related to the automotive industry that are caused by the autonomous vehicle revolution. Car insurers may shift to insuring OEMs rather than individuals, as the risks from human error will be far less in causing accidents that technical failure will. Additionally, car service companies that operated independently from car OEMs in the past will be transformed, since the safety-critical aspect of technologies associated with autonomous driving will likely become focused on OEM service methods and original OEM equipment.
Parking will become easier, the roads will become safer, and all of us will have more free time with the widespread adoption of autonomous vehicles. By the middle of the century, the number of car accidents is expected to be drastically reduced, and the impact of vehicle accidents on the economies of countries will also be enormous. In the United States, the estimated annual cost of car crashes is approximately $212 billion!
The effects of having even an hour more time daily, are also considerable for individuals. People will be able to relax more, watch their favourite videos or tune into whatever digital experience they want more often and for longer than ever before. It is anticipated that time saved by commuters on a daily basis could add up to a billion hours of spare time globally, which could impact the revenues of digital media if they are accessing Internet on mobile from a car.
Another way that autonomous vehicle adoption could change the way we live is in the whole field of robotics. Since the hyperprecise positioning of GPS, the remote advanced sensing, artificial intelligence and image recognition of autonomous vehicles and robotics/humanoid robots are virtually the same, the penetration of autonomous cars will also accelerate the adoption of artificial intelligence and robots in our lives.
These are just a few of the different ways that autonomous vehicles could change the whole landscape of the automotive industry, as well as our personal lives.

Categories: News, Automotive Technology