Here you go. In case of any further inputs, please let me know.All the best!I appreciate working with you!
Running head: EMERGING TECHNOLOGY
The automotive industry continues to be a force in innovation for the past hundred years.
The 21st century is experiencing an increased pace of innovation which impacts the automotive
industry. The changes in innovation led to a technological revolution that is the self-driving
vehicles. This new emerging technology could be a solution to the intractable social problems
existing in society. The issues include increased costs of traffic accidents and transportation
infrastructure, time wasted in the traffic jams, and a waste of space in the urban areas provided to
parking lots. The self-driving vehicles are the emerging technological evolution that will
transform the way people interact with vehicles. Self-driving vehicles never require the control
of human drivers in safely operating the cars. They are also called the autonomous vehicles since
they combine the sensors and software in controlling, navigating, and driving the vehicles. Cars
today comprise some features considered semi-autonomous such as assisted parking and braking
features. The partially autonomous vehicles also have some varying levels of self-automation
like lane assistance. The emerging technology may be still in the infancy stage, but it has the
capability of transforming the transport system. Additionally, the benefits also extend to the
economy and society. Self-Driving vehicles also have other pros. For instance, the sensors
present in the vehicles are ever-observing and not affected by the driver's state such as anger and
sleep. The sensors can scan several directions simultaneously. The autonomous vehicles provide
the automotive industry with options of safe roadways (Shalev-Shwartz, Shammah & Shashua,
2017). Most of the accidents in the roadways occur due to human error. More than 1.2 million
individuals died on the road worldwide annually. Autonomous cars will help alleviate the
situation and eliminate road accidents. The autonomous vehicles would save the elderly,
disabled, pedestrians, and cyclists. The pedestrians and the cyclists make up the large share of
accident victims worldwide.
Business Value and Competition
The autonomous driving went from being a possibility of becoming a definite possibility
to now being commercially available. A company that emerged from Google's self-driving
project, Waymo, began its commercial autonomous vehicle service in Phoenix. The company
plans to extend its service's capability and availability. However, its monopoly evaporated as
some other start-ups such as May Mobility are now running small- scale shuttle services.
Automakers are now pursuing technology and rebranding as mobility providers. Taxi-Hailing
companies like Uber are also joining the bandwagon. Tech giants such as Intel and Apple are
also looking to participate in the new gold rush. The driverless technology will contribute $7
trillion to the worldwide economy and reduce accident rates significantly. Therefore, more lives
will get saved in the next few years.
Competition in autonomous vehicle technology continues to grow significantly since the
last few years. The competitors’ primary objective is to deliver level 5 self-driving cars. Level 5
refers to cars that have the capability to drive and control themselves without human assistance.
Companies that try ...