Impact Of Self Driving Cars In The Economy

New Transportation Technology
New Transportation Technology
New Transportation Technology
New Transportation Technology

The science and technology is growing rapidly. The advancement in technology and also the invention of artificial intelligence and machine learning has started to influence our daily life. These technologies are making life effortless. Driverless transportation technology is one of the biggest examples of the advancement of science in the 21st century. Even if it is not launched for the use of common people, the existence of self-driving cars is a fact. If the motor vehicle companies are going to introduce this brand new transportation technology – self-driving cars, in the market, it will create the following impacts on the economy.

Improvement In Infrastructure

If the companies are going to launch self-driving cars into the open market, they will also invest in the government and private funds to improve the infrastructure of the world. This is because the self-driving cars function with the help of GPS and other networks, that is, it needs to be connected to the internet for better functioning. Therefore, the manufacturers will invest more in the advancement of these infrastructures.

New opportunity For Taxi Companies

Taxis are one of the basic transportation system used by the common people. One of the biggest problems faced by these companies is the lack of human resources. That is, a taxi company will need so many drivers and also a group of customer service executives to provide better service to the people. However, this will cost a lot of money to the company. The increased rate of employee turnover in this industry is also a major problem. Therefore, replacing the normal taxi cars with self-driving cars can help companies to solve these issues.

Reduced Road Accident

Most of the road accidents are caused due to the inattentiveness of the driver. Replacing a human driver with an artificial intelligence system can help in reducing the number of road accidents. In addition to that, driverless cars are equipped with sensors to detect the movement of vehicles and also to identify hurdles on the road. Therefore, it will help in reducing the number of road accident cases.

The self-driving cars are going to make a lot of positive impacts on our economy. However, it may also lead to problems like unemployment. A self-driving car is the face of advancement in technology. However, it is not going to be a substitute for normal cars because it will not give the pleasure of driving to the users.

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