Building a pattern of psychological behaviors is often compared to a chain of events that occurs in the real world. Replacing industries and technology has been something everyone is accuvaled to. A chain or a pattern is often set to follow after a disruption. Take the many examples out there, The emergence of Social Media redefined marketing that was earlier confined to just TV and Traditional Media Marketing.
With rapid advancements in machine learning and artificial intelligence, robot-driven cars promise to be a real possibility in the future. But how will such a development disrupt existing industries?
Who Are the Main Players?
Many companies today are vying to be the first mover within the robot-car industry. Google is pouring billions of dollars into Waymo, its self-driving car project. Grab, the Uber of Southeast Asia recently tested NuTonomy, an autonomous driving vehicle in Singapore. Existing automobile manufacturers such as Audi, BMW, and Mercedes are heavily reinvesting free cash flow into research and development, conscious that a breakthrough may yield massive payoffs in the future.
What Are the Implications?
Not all may be related to the autonomous vehicle industry but, for starters let’s focus on the supply chain for example. Electric powered vehicles typically have a different makeup to traditional cars. This will result in an uncertain future for traditional automobile parts suppliers such as Schaeffer and Faurecia. On the other hand, consider Norma Group, a niche supplier of clamps and connectors for automobiles. Electric vehicles require materials with increased Norma components, thus ensuring that the company is well positioned for a driverless future.
That’s just one, then there’s the metal and mining industry for battery manufacturing purposes, airline industry, insurance, taxi – the list just goes on.