Companies That Are Under Threat from Driverless Cars
The big investors in the technology world are focusing their energy on the concept of autonomous vehicles, which could bring a significant shift in the next twenty years. The notion of developing automated cars is achievable in less time than we thought. If this becomes a reality, it will be one of the highest innovations in the technology world ever seen. Whereas some industries will be hurt by this innovation, the automobile and technological establishments will gain a lot of profits from it. It will be a situation of adaptation or become extinct for so many sectors. However, there are some which will be greatly affected.
This advancement will greatly affect the insurance sector. Implementation of the vehicles without drivers will be determined by their safety. Technological hitches cannot be tolerated unlike in human scenario since an accident from a technological system can be disastrous. It is therefore after determining the safety of the vehicles with time that people will not have to use motor insurance. This will directly affect revenue for motor insurance companies who will record losses as well as lawyers who represent car accident victims.
The realization will also affect people who drive as a profession. The Uber company has made it aware that their drivers will lose jobs to the driverless cars after they are launched. Drivers who work in the taxi industries, drive ambulances, trucks and other vehicles will be impacted as their services will not be required when the technology is realized. 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. The hotel sector has benefitted a lot from for many years from this habit of people. 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 among those that loses income. 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. However, the autonomous cars will guarantee a user a peaceful less-disturbed journey and allow them to have enough time to prepare for their appointment.