GovTech.com, which tracks technology in the public sector, now predicts that self-driving cars will be fully operational within the next four years. What’s driving this trend? Just the fact that the market opportunities are so huge that companies like Uber and Lyft are hoping to carve out big chunks of the market. Car manufacturers are scrambling for a piece of the pie.
One interesting sidenote: brokerage house Morgan Stanley is predicting a 500 billion dollar windfall for municipalities as a result of dramatically lower costs of car-based infrastructure – think lower road maintenance costs, fewer municipal garages to maintain, fewer police and emergency services, etc. Towns and cities will also take a hit in revenues because traffic fines are a substantial source of revenue, which will drop dramatically over time. (Aw shucks!)
Below: An Uber test vehicle