Today, there are 4.4 million taxis globally. In 2020 this number is expected to reach 5.5 million. Once the commercialization of autonomous driving kicks in, the taxi market has the potential to double. This would allow for mobility to become a commodity or a service, which could compete with public transport.
Similarly, commercial transport will be affected by AI. By 2035, approximately 300,000 heavy-duty truck drivers globally could lose their jobs based on freight efficiency enhancement tools, automated driving and other utilization technologies. The societal impacts of AI, and autonomous driving as one element of it, will be far-reaching. Alongside the impact on the society, AI and autonomous driving will change the future of our cities.
The two major concerns connected to cars are accidents and pollution – which will be significantly reduced or even eliminated, once electric vehicles and autonomous driving work together. AI-enabled automated driving also has the potential to eliminate traffic jams, as Senior Partner Sarwant Singh of market research company Frost & Sullivan explains: "Today, when you are caught in a traffic jam, it is already too late. In the future, AI combined with data analytics could predict a traffic jam, avoiding not only you getting into the traffic jam but preventing congestion in the first place."
To showcase business opportunities arising from cognitive technologies and digitization for the mobility industry to embrace, Frost & Sullivan will host the Intelligent Mobility Conference in London on June 28 and 29. The event will cover policy change for cities to adapt and the future of mobility.
Singh plans to introduce the subjects AI and digitization with his keynote speech. "We are moving rapidly into the cognitive era where Artificial Intelligence and digitization in cars and transport will disrupt the future of the car and pave the way for new business models. Everything from vehicle design to ownership models and mobility services will be transformed. This is an exciting change for the industry to embrace."