How Autonomous Vehicles Will Reshape Our World
But the reverberations from ride-share apps are nothing compared with what will happen when autonomous vehicles become the norm. This new industry is on its way to becoming a multitrillion-dollar business--bigger than Amazon and Walmart combined. According to the World Economic Forum, the digital transformation of the auto industry will deliver $3.1 trillion annually in societal benefits by reducing the number of crashes, the impact of carbon emissions and the cost of car ownership, including maintenance, fuel and insurance. A 2017 study from Intel predicted that the global autonomous-vehicle market will generate $7 trillion annually by 2050--both directly (industrial use) and indirectly (savings from shorter commutes and a reduced need for emergency services). Everything around us will be altered by autonomous vehicles--our roads, our warehouses and even our definition of what a car can be.