It was in the year 1999 that a Chinese man who once worked as a translator suddenly gathered potential investors in his humble abode to talk about a business venture that could help them earn millions. The subject of the meeting? The Internet. At that time it took an hour to download a few kilobytes-worth of an image and yet this Chinese businessman had a great ambition. He knew the Internet was the future and despite the raised eyebrows in that gathering, he pursued with the plan. Years later, he would be known as one of China’s richest men for having been able to introduce China’s e-commerce to the world through Alibaba and Taobao.com—and his name is Jack Ma.
So what’s your takeaway from that? It’s about having the ability to think outside the box by looking through the eyes of innovation and the utilization of the rising advancement of technology. Nowadays, the presence of driverless cars has been popping out in headlines and needless to say, it has been turning heads upon the mention of it. Several automobile companies such as Mercedes, Volvo, GM, Tesla, and even Google have introduced their own versions of a driverless car—with each one of them boasting new features every single time they get shown off in the media. Right now, these auto companies are busy showing everyone just how these autonomous vehicles can truly improve their daily lives. So far, this has involved different traffic experiments along with studies of statistics regarding the possibilities of a malfunction. So as a potential investor in this advanced step in technology, why should you consider investing in it? First and foremost, as well as beyond raised brows, let’s see why it’s catching the attention of the consumers.
Why consumers are considering it
Needless to say, the idea of a car independent of a driver is innovative in itself. The autonomous cars are now equipped with several devices to help observe its surroundings and anticipate any object moving towards and away from it. Its high-tech sensors: camera, radar, and Lidar will work hand-in-hand to input data in its algorithm to decide on a course of action to take. While most of the driverless cars at the moment still feature the option of manual control, it is expected that automobile companies will launch full-autonomous cars in three years’ time and that these vehicles will take over typical traffic in about ten years.
The typical adult on a normal weekday will wake up, prepare for the day, drive towards work, attend to appointments, drive back home, eat dinner, and rest to repeat the routine for the next day. With autonomous cars, driving towards work and dealing with rush-hour traffic wouldn’t even be one of your problems anymore, as you would only need to hop in the car, take a seat, input your destination, and just enjoy the ride. During the travel time, you can take this opportunity to enjoy your morning cup of coffee or do some minor changes in your presentation for the meeting. Your hands will be completely hands-free and will therefore give you more time to do anything else worth doing. For the modern working adult, this is great news.
Less human error
Common car accidents are caused by human error for up to 90% of the time—that includes instances such as drunk-driving, being distracted while on the phone, missing out a warning sign or traffic light, and unprecedented involvement of a pedestrian. What the automobile companies, ones that are planning to launch autonomous cars, want to prove is that there will be reduced chances of car accidents caused by human errors. By far, autonomous cars have proven their efficiency in paying attention to their surroundings with the utilization of radars, Lidar, and camera with a 360-degree view—it stops the moment it senses a near collision with a car and it strays away from getting near pedestrians. For those with slow eye-to-hand coordination, this is definitely an advantage. If you’re curious about how driverless vehicles can affect the way vehicle accidents, especially driving under the influence, are tackled, you may consult a legal professional such as ones found here.
So why should you invest in driverless vehicles?
Just like how Jack Ma, in the ’90s, had the assurance that the Internet would have an enormous impact on the economy in the coming future, so should your assurance when it comes to these driverless cars. At this moment, these auto companies are partnering up with Uber and Lyft to let everyone experience how these autonomous cars are not so different than your manually-controlled car; more so, they could provide even a better experience.
For the past three years, there have been more than ten companies which have invested all their resources in creating autonomous cars. Even the two Internet giants: Google and Baidu (a Beijing-based company), have also launched their own driverless cars. Each company offers unique features for the consumers, however, they all have the same vision—to create the best autonomous cars with state-of-the-art design.
These auto companies have been investing billions’ worth of funds in order to launch their own projects of driverless cars. With its innovation, promising features, the convenience it offers to the market, and the possible return of investments that could be worth trillions—why shouldn’t you invest in it? This isn’t simply a fad, which tends to happen with “high-tech” gadgets because this is the future itself. As predicted, these autonomous cars could be taking over our roads in 10-15 years and by then, you could be a billionaire yourself.
April Sears has been a law writer for more than two decades, and she is currently working on her next piece. She also writes pieces on law topics for the common reader. April is family woman, and she loves spending her free time with her family.