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Companies That Are Under Threat from Driverless Cars

In the next twenty years, there could be a major change in the world owing to the idea of technological savvy of producing driverless cars. The idea of driverless cars could become a reality faster than we imagined. This will be a major advancement in the technological innovation that the world has ever witnessed. 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. However, there are some which will be greatly affected.

One of the industries to be affected by this will be the insurance industry. Driverless cars will become a reality to the consumers once it has been established that they are perfect regarding safety. Errors in technology cannot be allowed unlike in cases where human error is allowed since a possible tragedy in a technological hitch can be massive. It is therefore after determining the safety of the vehicles with time that people will not have to use motor insurance. Insurance companies will, therefore, be in for major losses and so will be for car accident lawyers.

The professional driver will most likely be affected by the innovation. 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. With this innovation, companies will have the ability to monitor their fleets and increase efficiency while minimizing the expenses. Only a small number of human resource will be required to manage the machines and will eventually be reduced to a small number as much as possible.

The hotel industry will also be affected by this innovation. This industry has gone through some difficult situations, and this will only make the matters worse. 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. When people start using driverless cars, they will be no need for resting in a motel or staying in a hotel room for the night. Travellers will rather stay in the vehicles throughout the night for the night. 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 will mostly affect the airlines that specialize in domestic flights. People normally use airplanes to fly domestically so as to save on time spent on the road and to get tired. 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.

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