Ride-hailing sector underpins autonomous vehicle technology progression

Ride-hailing is playing a key role in supporting the progress of autonomous technology. Ride-hailing companies such as Uber and Lyft have already started testing its autonomous technology by providing ride-hailing services. Automakers such as General Motors are also in the race to provide autonomous ride-hailing services.

Commodity Inside understands that autonomous technology will not only improve efficiency in the transportation system but will reduce accidents by increasing road safety. In road accidents, drivers appear guilty in around 90% of cases.

Autonomous technology comprised of smart sensors, artificial intelligence (AI), and machine learning etc, which proved to be performing better than human drivers. Therefore, switching from human to machine driving will substantially reduce car crashes and fatalities.

However, the technology is still in the preliminary stage of testing. It will pass through various regulations before to be adopted and deployed on roads.

Car ownership is a significant problem in congested cities. Autonomous technology coupled with ride-hailing will discourage customers from owning cars resulting in reducing traffic congestion and accidents. Self-driving cars can provide point-to-point on-demand services. Moreover, parking issues will also be controlled as on-demand services will provide an ease of mobility.

The higher cost is one of the impediments for the technology. Self-driving vehicles are installed with numerous sensors, radars, LiDAR, cameras, software etc which are very expensive and can make the vehicle price unaffordable for most people. So rather than owning autonomous cars, hailing will be more feasible.

Commodity Inside also anticipates that fully autonomous cars in ride-hailing will slash the cost of trips due to the absence of human drivers.