Entrepreneur and futurist, Zack Kanter has brought up his reservations on the future of autonomous car and predicted the fallouts of such technology. The detailed report features precise figures showing how economies will restructure, resulting in millions losing their jobs by 2025.
Furthermore, number of cars will be reduced, industries like automobile insurance, automotive finance market, parking industry will fall down and so on. The report also highlights the good aspects of the driverless vehicles like environmental impact, road safety, low cost and obviously the convenience.
The most significant development in this regard is Uber’s initiative for the mass production of autonomous vehicles and operating them as cabs. So, if it replaces 9,000 cabs with self-driving cars, the same number of persons will lose their jobs. Other renowned automakers that are currently working on the autonomy technology include Google, GM Motors, Volkswagen, Mercedes, Volvo, Nissan and Tesla.