21 Industries Other Than Auto That Driverless Cars Could Turn Upside Down

MARCH 21, 2017

21 Industries Other Than Auto That Driverless Cars Could Turn Upside Down

Fast food, real estate, hotels, and airlines — many large industries will have to shift their strategies in the wake of driverless cars.

It’s all but a certainty that autonomous or driverless vehicles will be widely used in the United States at some point over the next two decades. Already, over two dozen major corporates including Google, Apple and Mercedes Benz are hard at work building their own self-driving vehicles. Tesla’s Model S already includes an autopilot mode where the car drives itself on highways.

Clearly tech and auto companies stand to gain, but many other industries could face serious upheavals unless they are able to adapt to the many changes self-driving cars will bring to the market.

1. Insurance

Observers believe driverless cars will make automobile transportation a whole lot safer, and McKinsey predicts they could reduce US auto accidents by 90%. While this might save insurers money on payouts in the near future, demand for insurance will ultimately decrease as risks of a car crash drop. In anticipation of this shift, some insurers are rolling out usage-based insurance policies (UBIs), which charge consumers based on how many miles they drive, and how safe their driving habits are.

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https://www.cbinsights.com/blog/13-industries-disrupted-driverless-cars

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