Almost every science fiction story or movie involves self-driving cars. This technology is now a reality, with “autonomous vehicles” proven safe and legalized in many states. But beyond simply freeing up time, self-driving cars have enormous implications for business.
Of course, the automotive industry will be impacted. Self-driving cars only increase the attractiveness of ZipCar and other car-sharing services (UT Arlington has “Connect by Hertz,” a similar car-sharing service on campus). Previously, these services suffered because when a customer needed a car they needed to get themselves to where the car was. But with self-driving cars, the car can come to you. This will greatly increase the attractiveness of car-sharing services, and might even reduce the demand for cars overall.
Beyond the automotive industry, self-driving cars will have enormous implications for other areas of business. For example, when cars can park themselves, and come when you call them (think Batman calling the Batmobile), the need for convenient and close-by parking will reduce. Real estate and economic development will be significantly changed. Continue reading ‘The Future of Business is Technological (part 2).’