Proof Point
Autonomous vehicles expected to create new business models, decongest roads, reduce accidents, accelerate innovation, displace human drivers and decrease consumer car ownership
Autonomous Vehicles Overview and Expected Impact
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Proof Point Findings
- Autonomous Vehicles – Vehicles with full driver control, capable of sensing and navigating environment without human intervention
- Job Displacements – Eliminate need for human drivers, such as private chauffeurs, public transportation drivers, and professional truckers, putting 2.2 to 3.1 million driving jobs at risk in the U.S.
- Safer and Decongested Roads – Decrease accidents caused by human error and optimize driving patterns, eradicating up to 94% of total road accidents which are attributed to human driver errors and increasing road capacity by up to 80%
- Increased Energy Efficiency – Optimize autonomous driving behavior and lessen reliance on fossil fuel gases, potentially reducing transportation energy demand by up to 40%
- Vehicle Ownership Decline – Decrease propensity for car ownership as both private and public transportation improve, with 35% of consumers seeing 50% decline in car ownership by 2025
- New Business Models – Lead to emergence of new transportation business models, disrupting mass public transits and e-hailing systems, such as community fleets
- Cross-Industry Innovation and Disruption – Accelerate innovation and disruption in non-transportation related fields that heavily depend on vehicle technology, such as supply chain and logistics, public infrastructure, real estate and urban planning, and media and advertising