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AI & ML in Automobile Industry
Autonomous Vehicles (Self-driving automobiles) are not simply technology fiction anymore. It’s now no longer something that receives batted around in robotics labs and assumes tanks. Today, self-driving automobiles are on the verge of turning into private mobility. The marketplace is accepting them, trying them, and is inclined to pay for them too. The worldwide self-reliant car marketplace is projected to reach $556.67 billion by the means of 2026 with annual growth of 39.4 per cent from 2019 to 2026. Toyota Motors and Nissan Corp. are emerging key players in this technology with 121 and 107 total Patent applications respectively.
Autonomous vehicles will help in keeping our environment cleaner. They will lower fuel consumption, reduce CO2 emission, and help reduce vehicular congestion. IoT and Big Data will be big contributors to the Autonomous Vehicle space. IoT systems will help autonomous vehicles communicate with each other on the road. The decision-making process of autonomous Vehicles is still a Question based on different security standards of the Countries.
Benefits of Autonomous Vehicle
Reduced drivers’ stress and increased productivity. Motorists can rest, play and work while travelling. Mobility for non-drivers. More independent mobility for non-drivers can reduce motorists’ chauffeuring burdens and transit subsidy needs. Reduced paid driver costs. Reduces costs for taxis services and commercial transport drivers.
Increased safety. May reduce crash risks and insurance costs. May reduce high-risk driving. Increased road capacity and cost savings. More efficient vehicle traffic may reduce congestion and roadway costs. Reduced parking costs. Reduces demand for parking at destinations. destinations. Reduced energy consumption and pollution. May increase fuel efficiency and reduce emissions. Supports vehicle sharing. Could facilitate carsharing and ridesharing, reducing total vehicle ownership and travel, and associated costs.
Disadvantages of Autonomous Vehicle
Increased vehicle costs. Requires additional vehicle equipment, services and fees. Additional user risks. Additional crashes caused by system failures, platooning, higher traffic speeds, additional risk-taking, and increased total vehicle travel. Reduced security and privacy. May be vulnerable to information abuse (hacking), and features such as location tracking and data sharing may reduce privacy.
Increased infrastructure costs. May require higher roadway design and maintenance standards. Additional risks. May increase risks to other road users and may be used for criminal activities. Increased traffic problems. Increased vehicle travel may increase congestion, pollution and sprawl-related costs. Social equity concerns. concerns. May reduce affordable mobility options including walking, bicycling and transit services. Reduced employment. Jobs for drivers may decline. Reduced support for other solutions. Optimistic predictions of autonomous driving may discourage other transport improvements and management strategies.