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.
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.
Seven has announced the total judging line-up for this season of Australia’s Got Talent. Patrick-Harris, who is American, is best known for his television work in How I Met Your Mother, as well as his role in the critically acclaimed film Gone Girl. He has also hosted a number of awards shows, including the Oscars, Tonys, and […]
WhatsApp has reaffirmed its commitment to user privacy in a new global campaign, following controversial policy changes earlier this year. The Facebook-owned messaging platform revealed earlier this year it would be sharing certain data with Facebook as a condition of use, with the potential for this data to be used for targeted ads. The changes […]
Clipboard, a free professional networking platform for the hospitality industry, has announced it will seek to raise its next round of funding via equity crowdfunding platform Birchal. This will power its vision to transform the way the fragmented hospitality industry connects, shares experiences, markets and recruits. With a growing member database of over 24,000 hospitality […]
BIG W has joined forces with Verizon Media’s branded content division, RYOT Studio, to give Aussies a new way to shop Australia’s favourite annual toy sale, Toy Mania, using augmented reality (AR). In a first for BIG W, customers can scan a WebAR code to ‘place’ select outdoor toys from the Toy Mania sale virtually […]
The #SeeingRed campaign by Hey Girls UK uses discordance to its advantage, conveying the frustration and disempowerment of period poverty. Hey Girls UK are a period brand seeking to end period poverty in the UK, selling period underwear, cups, pads, and tampons. They run on a ‘Buy One, Give One’ scheme, where for every product […]
An upcoming film about the terrorist attack on a mosque in Christchurch, New Zealand, has been widely criticised for promoting a ‘white saviour’ narrative. Members of the Muslim community have also said it is “too soon” to fictionalise the shooting, which happened in 2019. White supremacist Brenton Tarrant murdered 51 worshippers at Al Noor Mosque, […]
Isentia has announced a takeover offer from Access Intelligence, which is subject to shareholder approval. Under the offer, Isentia shareholders will receive $0.175 per share in cash; this implies an Enterprise value of $67 million. Access Intelligence is a technology-led company delivering SaaS products that address the fundamental business needs of customers in the PR, […]
CHEP Tech, CHEP’s technology offering, has strengthened its Sydney team with new hires, including ex-Isobar engineering leaders, Tim Chapman and Kirill Frolov, alongside the promotion of Jacinta Karras to Head of Tech Programs and Charlotte Bruton’s role expansion from Head of Mixed Reality to Head of Innovation Strategy. Mark Gretton, chief technology officer of CHEP […]
After it was initially delayed, a Four Corners episode on QAnon, and a link between the conspiracy and PM Scott Morrison, aired last night. The ep – which had 722,000 viewers, as per OzTAM’s metro data – interviewed the family of Australian QAnon followed Tim Stewart. Stewart is a family friend of Morrison, who has publically […]
With the on-time deadline right around the corner, now is the time to submit your entry for B&T’s newest awards program, Best of the Best. On-time entries for Best of the Best will be accepted until 5pm (AEST) on Friday 25 June. And, while you can submit entries after this date for another week, it’s definitely best […]
New data, compiled by Deloitte and released by industry body Commercial Radio Australia, shows a rebound in radio advertising. According to the data, commercial radio advertising revenue for metropolitan stations jumped by 72.6 per cent in the month of May to reach $59.605 million from $34.534 million a year ago. The rise reflects a strong […]
Swedish bank Nordax has created a tool to urge people to buy less online – and to make smoothies instead. How we shop online is constantly evolving, with new ways to pay and get items delivered. Now, with a global pandemic keeping everyone bored at home, online shopping has reached new heights. Nordax Bank, a […]
It might still be June, but the deadline for entries into this year’s B&T awards is fast approaching (they’re due Monday 19 July at 5 PM, in case you were wondering). This year we’re helping you like never before with our new series, ‘How To Win A B&T Award’, where we speak with a host of judges, […]