Self driving cars essay

Ordinary cars fall under 0, and ones operated through a computerized system fall on 5. Level 1 and 2 are the most common in the market today with features such as automatic parking systems. The aim of most manufacturers is to advance the automotive to level 3 and 4 which are fully automated cars. Economic Effects of Autonomous Vehicles. According to research done on the United States economy, automated driving will bring economic effects of approximately 7 trillion by 2050. This elimination impacts the insurance sector as there will be a decrease in the need for auto insurance policies. The car insurance might need to come with other insurance methods like insuring manufacturers against technical failures. This new method of protection is already taking place in some manufacturers e.

g. , Google, Volvo, and Mercedes. Also, the automated system will be networked for communication purposes, and a malicious attack could result in all the cars on the road to stop. Manufacturers have come up with ways to seal holes, but the hackers always find new ways to hack. Hacking is a primary concern in any new technology, as it could result in significant losses (2). Need for New Economic and Social Design As mentioned by most researchers, it will take time to achieve fully automated cars. This because it takes an accumulation of a lot of data and learning processes to come with such technology. " Regional Science and Urban Economics 61 (2016): 26-37. Ostrovsky, Michael, and Michael Schwarz. "Carpooling and the economics of self-driving cars.