Google Inc (GOOG)’s Driverless Cars Will Be Huge Boon For All

Page 1 of 2

I have been writing about this for a while, including this column in November where I scratched the surface of what the driverless car might bring us as a society, but after reading this article in Forbes written by Chunka Mui, my excitement grew, and grew, and grew.

I thought I would bring added flavor to my Motley Fool readers, no doubt piggybacking off some of Mr. Mui’s ideas, which are in line with my own. (perhaps he read my original column too)

Google Inc (NASDAQ:GOOG)

Is It Real?

As of November Google Inc (NASDAQ:GOOG)’s robotic car, a Toyota Motor Corporation (ADR) (NYSE:TM) Prius pimped out with onboard computers and laser visual echo system, had driven 300,000 miles without an accident. Since then, according to Mui’s column there were two minor fender benders when the driver switched over to human control of the car (which is an option).

Sidenote- as this technology ramps up, and comes closer and closer to fruition; Toyota and their Prius are going to be getting a lot of free press. According to Toyota.com the Prius, last month, had its best January ever, up over 36% in volume sold. Imagine if it somehow became the default for driverless car technology.

For a look at the car and a demonstration of how it works I refer you to:  . It is definitely worth ten minutes of your time, promise.

Majorly Disruptive

First of all, this technology is ground breaking and Disruptive in major major ways.

As I am super excited about this, I will likely turn this into a series of columns. In this one I am going to explore 5 ways that society benefits of the hundreds that might exist. If you readers have more ideas of added benefits please enter them in the comment section. To write/ think of them all would take a long time, plus we’d need the clearest of crystal balls. Here are 5 biggies:

1). Car ownership won’t even be necessary

2). Cheaper insurance

3). Less demand for medical care

4). Seniors will be much more independent

5). Productivity of society will increase dramatically

Car Ownership Not Necessary??

That’s right. Most of the time your car lies dormant. Loan it out, there’s always a chance you won’t get it back, somebody will get into an accident, and lord knows what the liability situation is on it.

Enter the driverless car: Imagine a fleet of taxis driving around every nook of a large city. Merely communicate via your phone that you need a ride and within a minute the car is there. Used to parking far away? Not anymore. The car comes to you and drops you off at the front entrance of your location.

Maybe there are competing companies. Enter your destination into your phone, and instantly bids come in as to the cost. Press a button to choose. Based on GPS location, they know where you are.

Basically you will be paying per mile that you drive and no tip to the robot necessary (unless maybe it tells a super funny joke-app makers?)

No worries about overnight parking tickets on the street, about damage to the body of your vehicle from someone plowing into it and not leaving a note, car washes, etc. Nope, that will all be included in the price you pay for the trip.

No DMV fees for you, no tickets, personal liability coverage, etc. That doesn’t mean you might not choose to own a car, but unlike today’s world, you’d have the option.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

7 High-Paying Jobs You Can Do From Home

12 Best Cities to Shop in USA

10 Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!