CBA: Ten Million Driverless Cars On The Road By 2020

CBA: Ten Million Driverless Cars On The Road By 2020
SHARE
THIS



The driverless car revolution is revving up, with 10 million driverless cars forecasted to be on the road by 2020.

According to a report by The Commonwealth Bank’s technology innovation executive manager, Dilan Rajasingham driverless cars “impact on our society and economy is likely to be far-reaching, radically transforming the way the global community uses and manages energy resources, cares for the health of our citizens and manages its entire transport system.”

The reports said the technology required is already present in most new vehicles. However, the revolution would be powered by the emerging Internet of Things, a market that’s forecasted to explode in near future.

“Automated vehicles could make transport faster, easier and safer,” said the report. Suggesting driverless vehicles have the potential to reduce the $16.5B that congestion costs the Australian Economy each year. There is also possibility driverless cars can lessen the 53 minutes a day the average Australian spends commuting, the report said.

Microsoft Word - Driverless Cars Whitepaper - final.docx
Automated cars also present new challenges and risks, according to the report; “While driverless cars have enormous potential to improve our quality of life, they also raise critical questions about how we create a digitally managed ecosystem that is robust, highly functional and exceptionally secure.”

Network security will be a major focus to minimise any misuse of the new tech, with the report identifying hacking and cyber terrorism as a significant concern. A recent incident, where a Jeep was remotely accessed and its breaks disabled, causing it to crash into a ditch, shows why people are hesitant to hand over the controls.

When businesses are ready to take the plunge, high up front costs will be another barrier. According to the Comm Bank report, businesses will; “Seek to spread the upfront costs of investing in driverless technology over its useful life.”

“Businesses will need to carefully weigh the long term benefits against the upfront costs – and keep a close eye on competitors to ensure they won’t be left behind,” the report said.

According to the report, Google’s driverless cars drove three million kilometers in 2014 and; “Until this year, Google’s cars had only been involved in 17 minor crashes over six years — and none where they were at fault.”

So what happened in 2016 to tarnish the perfect record? A minor incident with a bus that caused “Google to refine and update its test scenarios software,” the report said.

That may be the greatest appeal of a driverless car network; a system that continuously improves and becomes more efficient, reducing costs across the board. An extra twenty minutes sleep in each morning might be a close second.

This article originally appeared on B&T’s sister business site www.which-50.com and was authored by the site’s editorial intern Joe Brookes.

Latest News

NGEN Winners Create World-First Virtual Mentoring World For Deaf Teenagers
  • Media

NGEN Winners Create World-First Virtual Mentoring World For Deaf Teenagers

The winners of last year’s MFA Awards NGEN category have brought their unique idea to life and built a world-first virtual mentoring world for deaf teenagers inside Minecraft, called League of Hearoes. After months of testing, the world has launched weekly live events, attracting more than 50 deaf or hard of hearing (DOHH) teenagers.

Hit Network Reveals New Breakfast Line-Up For Adelaide
  • Media

Hit Network Reveals New Breakfast Line-Up For Adelaide

Southern Cross Austereo’s Hit Network has announced that Rebecca Morse and Andrew Costello will become its new breakfast radio hosts in Adelaide from 2019. The Bec and Cosi show will take to hit107 airwaves on 21 January 2019. It replaces Amos, Cat & Angus, which finishes up tomorrow. Presenting Network Ten’s Adelaide news bulletin for […]

Wednesday TV Wrap: The Block Sees Off The Bachelor (Just)
  • Media

Wednesday TV Wrap: The Block Sees Off The Bachelor (Just)

Nine’s The Block was the most watched entertainment show of Wednesday night, narrowly seeing to Ten’s The Bachelor by 881,000 to 854,000, respectively. Ten’s latest attempt at a homegrown drama, Playing For Keeps, debuted last night with a promising 583,000. The Block was enough to give Nine the biscuits, winning last night with 28 per cent audience […]

by B&T Magazine

B&T Magazine
Cummins&Partners Wins Media Account For Red Cross Blood Service
  • Advertising
  • Media

Cummins&Partners Wins Media Account For Red Cross Blood Service

The Australian Red Cross Blood Service (ARCBS) has appointed Cummins&Partners as its new media partner following an extensive competitive pitch review. The media remit has been added to creative services at Cummins&Partners, creating more of a full-service partnership with ARCBS. Samantha Bartlett, marketing director at ARCBS, said: “We are absolutely delighted to appoint Cummins&Partners as […]

Diesel Turns Online Hate Into Cool New Fashion Campaign Littered With Stars
  • Advertising
  • Campaigns

Diesel Turns Online Hate Into Cool New Fashion Campaign Littered With Stars

Italian youth fashion brand Diesel has unveiled its latest campaign that uses social media hate and turns it into a clever new campaign. The ad stars Nicki Minaj, Gucci Mane, Bella Thorne, Tommy Dorfman, Miles Heizer, Yovanna Ventura, Barbie Ferreira, Yoo Ah-In and Jonathan Bellini. Each celebrity chose some of the worst comments they’d received, and Diesel designed exclusive items for each […]

by B&T Magazine

B&T Magazine
Infographic: How Sponsoring An Event (Like Goat Yoga Or A Garlic Festival) Can Grow A Business
  • Marketing

Infographic: How Sponsoring An Event (Like Goat Yoga Or A Garlic Festival) Can Grow A Business

A common malady of marketers is how to best spend their marketing dollars and get the best outcomes (ie. sell more stuff). But a new study suggests that going “hyper-local” could be an easy and effective place to start. The study, by US marketing firm Zipsprout, says that micro-targeting local consumers via corporate sponsorships can be one of […]

by B&T Magazine

B&T Magazine
Clemenger BBDO’s ‘Exceptions To The Rule’ Recruitment Program Now Open
  • Advertising

Clemenger BBDO’s ‘Exceptions To The Rule’ Recruitment Program Now Open

The annual search for Australia’s best and brightest talent has launched today through Clemenger BBDO’s ‘Exceptions to the Rule’ program, with applications open for placements across Clemenger BBDO Melbourne and Sydney. ‘Exceptions to the Rule’ is a commitment to the agency’s belief that the future leaders of the creative industry aren’t solely coming through traditional […]

The Six Types Of Meetings People Despise
  • Media

The Six Types Of Meetings People Despise

Donna McGeorge (pictured below) is a speaker, author and mentor who helps people make their work work. She is also author of The 25-Minute Meeting: Half the Time, Double the Impact. In this guest post, McGeorge says most of us despise the office meeting and here’s the six worst types… I once heard a very senior leader […]

Opinion

by B&T Magazine

B&T Magazine