The Industries That are Threatened by Driverless Cars.
Major stakeholders in the world of technology are putting their energies on the idea of having cars which are automated, and this could be a changer twenty years to come. The notion of developing automated cars is achievable in less time than we thought. The realization of this will be a major progression in technological expansion ever known to man. Technological industries and automotive companies will rake in huge revenue, but this will, on the other hand, affect some companies survival. A lot of sectors in the country will be forced to adjust or peter out. Some of these will be impacted bigger.
The insurance industry stands to lose a lot in this invention. To implement the autonomous cars, there will have to be certainty that they are flawless. Technological hitches cannot be tolerated unlike in human scenario since an accident from a technological system can be disastrous. There will not be a need to insure against motor vehicle accidents once the autonomous vehicles pass the safety test in due time. Insurance companies will, therefore, be in for major losses and so will be for car accident lawyers.
The realization will also affect people who drive as a profession. The announcement has been done by Uber Chief Executive Officer about their plans to phase drivers for the automated cars, after its launching. With this becoming a reality, the demand for professional drivers will go down which will affect all types of drivers from, truckers to taxi drivers, ambulance drivers and anyone else who does it for a living. The advancement will make it easy for the industries to track their vehicles and improve their effectiveness. Humans, however, will operate this technology but will slowly get phased out and retain the minimum number possible.
The hotel industry will also be affected by this innovation. Over the past few years, this industry has been affected, and this doesn’t look any better. People will most of the time relax in a hotel after getting tired from driving for long. This has created a lot of revenue for the hotel industry over the years. However, with driverless cars, people won`t have to stop over just one night or step into a motel when they get tired when driving from place to another. Owners of the cars will opt to sleep in their vehicles instead. This will save them money and time which is a very valuable commodity.
The airline business will also be in line to lose revenue. This is especially for the airlines that deal with local flights. Individuals will go for the domestic planes to avoid wasting time on the road and getting exhausted. A traveler that uses a driverless car is guaranteed of a safe journey, and thus they also have enough time to prepare for meetings.