Executive Briefings

Autonomous Vehicles Promise Tremendous Societal Benefits

The widespread adoption of autonomous vehicles (AVs) could eliminate the more than 30,000 annual U.S. road fatalities, improve travel time by as much as 40 percent, recover up to 80 billion hours lost to commuting and congestion, and reduce fuel consumption by as much as 40 percent.

Those societal benefits could be worth as much as $1.3tr in the U.S. alone, according to various studies. Consumers are keen to embrace AVs. Moreover, it's likely that AVs can be manufactured and marketed affordably and profitably.

Much of the technology that goes into AVs, especially the software algorithms that control autonomous operations, is proprietary, of course, and will in large part constitute the “secret recipe” by which OEMs and suppliers seek to differentiate themselves.

But other technological challenges, such as those relating to cybersecurity, highly precise digital maps, and vehicle-to-vehicle/infrastructure communication, will require a collaborative effort on the part of AV stakeholders.

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Those societal benefits could be worth as much as $1.3tr in the U.S. alone, according to various studies. Consumers are keen to embrace AVs. Moreover, it's likely that AVs can be manufactured and marketed affordably and profitably.

Much of the technology that goes into AVs, especially the software algorithms that control autonomous operations, is proprietary, of course, and will in large part constitute the “secret recipe” by which OEMs and suppliers seek to differentiate themselves.

But other technological challenges, such as those relating to cybersecurity, highly precise digital maps, and vehicle-to-vehicle/infrastructure communication, will require a collaborative effort on the part of AV stakeholders.

Read Full Article