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The taxi cab is here,
Relief takes over fear
Get inside, the dream’s alive
Our journey won’t be dear
A.I takes us there
Restrictions everywhere
Sat Nav chimes, and on we climb
It’s time to pay the fare

2020 Insight

You will book a taxi without a driver.

At the start of the century, many of us would’ve never believe we’d see the day where driverless cars were possible. However, brands like Google’s Waymo, GM Cruise, and Argo AI – in connection with Ford – are on the verge of making driverless cars not only a reality, but a common sight thanks to groundbreaking developments in autonomous vehicle tech. And who is the biggest stakeholder of autonomous vehicles? If you guessed ridesharing services like Uber and Lyft, you’d be right on the money. The largest expense for these businesses are, of course, drivers. With the rise of autonomous vehicles, Uber, Lyft, and other ridesharing services will see their operational costs go down – something that, in turn, will benefit consumers as they see prices for these services sink. Self-driving vehicles have the potential to not only transform the ridesharing industry, but to disrupt the car industry. Vehicle ownership among Millennials and Gen Z is already down, while the sharing economy is growing.

Car ownership will become less feasible to justify with the affordability and convenience of ridesharing. Are you prepared to book a driverless ride?