Autonomous vehicle technologies, and in particular, fully
autonomous vehicles have the potential to be among the most
disruptive technologies since the advent of the automobile itself.
Some of the largest and most influential companies in the world
have made billion-dollar investments in "driverless
transport" – and these are not speculative bets.
It is anticipated that multiple industry sectors will face
substantial issues – more significant than many might think.
Industries such as manufacturing, technology, transport, logistics,
insurance, health, municipal planning, infrastructure, and
hospitality will all be impacted, economically and operationally.
So too, the legal and regulatory frameworks on which business and
our society are based will have to anticipate the magnitude of
change, prepare for, and adjust accordingly.
Marshaling studies and opinions from a variety of third-party
sources, this report delves into the impact of autonomous vehicles.
It discusses the technology, identifies the issues, defines the
sectors of the economy most likely to be affected, and explores
It is our hope that this report will enhance your understanding
of how autonomous vehicles promise to revolutionize transport, and
with it, alter our industries, economy and society. Specifically,
we trust it will enable you to proactively approach the issues
affecting your industry sector in a more knowledgeable way.
Autonomous Vehicles | Revolutionizing our World
If they fulfill their advocates' expectations, automated and
autonomous vehicles will fundamentally change the way we and our
goods travel. But that is just the beginning.
Mobility will exponentially increase. The need (but perhaps not
the desire) for one's own car will give way, in large part, to
the sharing economy and all that entails. For example, vehicles
called to one destination will coordinate with other requests,
serving multiple riders along the way. Vehicle autonomy and
coordination will allow us to meet transport demands while
utilizing fewer vehicles, on a round-the-clock basis, and with
There are other, broader impacts as well. Making more efficient
use of fewer cars will lower the demand for parking spaces,
garages, automobile repair services and road infrastructure, while
simultaneously decreasing negative impacts to the environment.
Faster vehicular travel times will have implications for short-haul
air flights and the hotel and car rental industries as well.
Automated, round-the-clock commercial vehicles will redefine supply
chain logistics and give new meaning to just-in-time inventory
systems. Automated municipal transport will reduce costs and change
the dynamics of urban planning.
Morgan Stanley believes that these changes have the potential to
save the American economy $1.3 trillion annually, with global
savings estimated at more than $5.6 trillion.1 The
Conference Board of Canada predicts up to $65 billion in potential
savings to Canadians, including $37.4 billion in collision costs,
$20 billion in time, $2.6 billion in fuel, and $5 billion in
congestion avoidance. Over a five-year period, fully autonomous
vehicles could save Canadians approximately 5 billion hours of
their time.2 Autonomous vehicles will impact a variety
of sectors of the economy, ranging from automobile manufacturing to
technology to insurance to logistics, to name a few –
effectively revolutionizing many aspects of business and
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