One of the most innovative technologies of the future, could possibly cost 300,000 their job. In 20 years, over 300,000 people could lose their job due to the popularity of self-driving cars. However, most people will hardly even notice the change.
While you will still be taking a taxi, there will not be an actual human driving it. You will request an autonomous taxi. Self-driving cars will eventually be as common as a smartphone or email. It will be a popular new technology as it will make driving safer, more convenient and more cost-effective for users.
VentureBeat compared the introduction of self-driving cars to the introduction of the first vacuum cleaner. Due to self-driving cars, over 70 million professional drivers could lose their jobs. This will put many in the position of needing to study something again or make a career shift.
Car companies make a lot of profit off of the engine, bodies and designs of their cars, many people buy a car for the story behind it. They want the meaning that also comes with the car. For example, Porsche makes $15,000 of profit off of each car that it sells, while most other automakers will make as little as $1,000.
People will pay more for a Porsche because they are also buying the “story” of the car. The buyers feel in sync or a connection with the story of the car, the branding and the history of the vehicles. Self-driving cars, however, might make car buying a whole new game. If the car is self-driving, buyers will not care about the engine or other basics of the under the hood items. Owners will simply ride. It is expected that they will be worried more about the interior and how they feel riding in the car.
Car buying preferences will also be based on how “green” the car is. Studies show that millennials are looking more for a more environmentally friendly car, as opposed to a long-lasting one. This preference will only increase as technology continues to advance.
While the automotive world continues to evolve, preferences will continuously change and automakers will be forced to keep up by continuously updating their systems and technology.
Some cars, like Tesla, are already testing out the waters of the self-driving vehicle world. The advanced technology of the continuously updated Auto Pilot system, offers owners the experience of self-driving cars. The car will drive while the owner sits in the driver’s seat.