Autonomous driving has been a dream of humanity since the invention of the automobile. While the idea of a self-driving car once seemed impossible, it’s a reality that we will all soon be confronted with. With the proliferation of autonomous driving just on the horizon, businesses and citizens need to prepare for this technological revolution.

Learn more about the issues surrounding autonomous driving and find out how your business can adjust to this exciting transportation method.

The Insurance Factor

One of the most interesting impacts of autonomous driving is how it may affect the frequency of accidents and the cost of auto insurance. The majority of accidents are caused by human error, resulting in expensive accidents and high auto insurance costs. As autonomous driving becomes ubiquitous, we may soon see a landscape where humans are simply too expensive to insure as drivers.

The Government Aspect

With new technology comes new regulations. While these regulations are designed to keep us safe, often times they unintentionally stifle an industry. It is very possible that ill-planned regulation could have a negative impact on autonomous driving.

Because autonomous driving is in its infancy, government must pass regulations that balance consumer safety and industry growth. Regulations that are too strict may slow down the progress of autonomous driving innovation.

Changing Industrial Driving

While commuters make up the majority of motorists, personal cars are not the only vehicles on the road. For instance, most freight in the US is transported via truck, and having autonomous trucks could be a game changer for this important industry.

Autonomous vehicles don’t get tired, work for unions or need to take lunch and dinner breaks. Trucks that operate autonomously can be much safer and more predictable than human operated vehicles. Many industries are already seeing the benefits that this new technology can bring.

Mining and farming are two areas where this technology is already being used and tested. Early adoption in these industries is paying big dividends in the form of labor cost savings and carbon emissions that have been reduced by as much as 60%.

Advances in Other Areas of Robotics

Like any new consumer product that becomes popular, autonomous driving may lead to technological advancements in other important areas. Artificial intelligence, machine-to-machine communication and infrastructure could all benefit from advances in autonomous vehicle technology. There may even be new markets that have not even been thought of and can be cultivated and developed using autonomous driving technology.

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