“Don’t be afraid of new Arenas.” – Elon Musk
Elon Musk led in an investment of Tesla motors in February 2004 A seed funding. His investment placed him on the board of Tesla, and from there on forward, he became the face of Tesla. Constantly innovating the electric powered car he gave Tesla the reputation of the most high-tech automobile ever. Amongst the many advancements Tesla popularized, the most notable and brag-worthy feature is their autonomous driving. Tesla didn’t invent autonomous driving vehicles, but they do it the best. There constant efforts in branding their self-driving feature to be perfect, have led to their name being synonymous with the feature. However, with great advancements lead to even greater competition. The largest competitors aren’t even huge car companies they mostly consist of tech companies: these are Uber, Google, Apple, Android, Faraday, and Lucid.
The Self-Driving Car
Just 10 years ago, entering the saturated automobile industry was considered financial suicide. The competition was impeccable, and car companies monopolized the entire market. Times have changed not saying it’s easier, however, an average tech startup can now join the autonomous automobile hype by creating strong software for a vehicle. While the failure rate is still high, it has certainly gone down with depreciation. Tech companies that don’t create cars but create tech features for cars benefits from this greatly. They can sell patent designs or software to giant corporations without actually manufacturing a product http://www.bbc.com/news/technology-16197664. Previously, this was unheard of in the car industry.
An industry forever changed
Often we underestimate the revolution that a product can have on our daily lives. For example, when the smartphone was first introduced to the masses in 2005 we would’ve never guessed how important it would be. Smartphones are now being used as wallets, Credit Score tracker, and for health and fitness. People greatly underestimate that, so how can a self-driving car be any different. There are statistics that show the benefits an autonomous vehicle will have on the automobile market. Driverless cars won’t just change the personal vehicle industry, it will also change the freight industry, the semi truck industry, and much more.
We saw with apps like Uber, the taxi industry has taken the biggest hit. However, by the time driverless cars are commercialized the old taxi industry will be as dead as the newspaper industry. Taxi isn’t the only vehicle driving service that will take a massive hit.
Semi-truck drivers are also worried about the driverless car revolution. Fatigue, illness, and careless are the reason for 40% of semi-truck accidents. In addition, it’s also the reason for tardiness in semi-truck drivers. Truck drivers are worried about their jobs in the next 5-10 years once self-driving vehicles are perfected. There is a huge chance that every semi-truck will be accompanied with self-driving software. This is a great advantage for companies because the semi-trucks won’t have to ever stop for food, sleep, or illness. This spells disaster for semi-truck drivers since they can be easily replaced.
Autonomous vehicles will obey the law and drive the speed limit deeming police traffic cruisers useless; this is being called an “enforcement void” http://www.post-gazette.com/news/state/2017/03/22/driverless-cars-pittsburgh-uber-self-driving-laws-pa-senate-bill-427/stories/201703220069?pgpageversion=pgevoke. 50% of all vehicular stops by law enforcements in America are due to traffic violations. Self-driving cars will be programmed to follow all traffic rules. Even though we won’t see perfect artificial intelligence driving for another 20-30 years, once we do expect to see less police roaming the streets. Aside from the massive job loss, police can use this as a huge benefit; fewer accidents and more on foot chases is never a bad thing. In addition to that, car manufacturers of self-driving cars like Tesla have stated that they will give police officers the power to shut your vehicle off. Except a more Robocop future of powerful self-driving police cars.
The biggest impact will be felt in the automobile industry. With car life-expectancy rising and car deaprecation declining, the automobile industry could lose billions. Autonomous vehilces will cause fewer acidents and fewer car repairs in the long-run. Good for the consumer, but this will hurt the businesses of auto-repair shops and car dealerships. They will have to find new ways to keep customers coming back once their initial purchases have been made. Tesla has been throwing around the idea of an expiration date, but more than likely that won’t happen. Even though it might seem like leaders in the self-driving industry like Tesla knows what this revolution in industrial manufacturing might mean, really nobody is for certain. We could be seeing the destruction and rebirth of a third industrial revolution in the forthcoming years. With countless people losing their jobs and the car industry having to readjust their whole infrastructure to keep up with the trends, who knows who will all make it out. We will all see for our very eyes within the next 5-10 years as the software is perfected and the car industry began changing forever.