A certain section of people believe that driverless cars will solve the global road accident problem, but global automotive artificial intelligence market tech comes with certain caveats

Intel is looking to make a huge splash in the global automotive artificial intelligence market. The company just acquired Mobileye for a cool $15.3 billion to disrupt the global automotive artificial intelligence market. Not only does this move put major players such as NVIDIA Corporation, Volvo, Audi, Microsoft etc. on tenterhooks, it also underscores the phenomenal potential displayed by the global automotive intelligence market.

In a new report titled “Global Automotive Artificial Intelligence Market, Forecast & Opportunities, 2016-2022”, TechSci Research examines the workings of this high-potential industry. Here are some of the salient insights from the same.

Global Automotive Artificial Intelligence Market: From a Safety Perspective

A WHO report points out the crippling necessity of road traffic safety management in the world. As per the report, over 1.25 million road traffic deaths occurred globally in 2013. China and India are the worst offender, accounting for nearly 0.5 million of these deaths combined. Brazil (around 47,000), Indonesia (over 38,000), Nigeria (over 35,000) and USA (over 34,000) were also major offenders.

Among countries with most road deaths per 100,000 African countries were some of the worst performing. Libya (73.4 per 100,000 inhabitants), Malawi (35), Liberia (33.7), Democratic Republic of Congo (33.2) occupied 4 of the top 5 countries in this category.

All this points to the crippling need for global automotive artificial intelligence market solutions to try and tackle what is one of the major causes of death across the globe. NDTV reports that there is there is one death every 4 minutes due to a road accident in India, with two-wheelers accounting for 25% of total deaths due to crashes.

Given that there is huge amount of awareness being generated, along with acceptance of various technologies to help and assist different tasks, such debilitating statistics will only ensure the quicker inculcation of various global automotive artificial intelligence market solutions and services.

For the aforementioned reasons, TechSci experts expect global automotive artificial intelligence market which stood at $ 565.7 Million in 2016 in value terms, to grow at a CAGR of over 33%, during the forecast period.

In addition to road traffic safety, experts also believe that factors such as rising demand for autonomous vehicles, increasing consumer demand for smooth driving and growing adoption of ADAS technology by OEMs will also play a major role in accelerating the demand for global automotive artificial intelligence market.

The next section of this article leads into the application of global automotive artificial intelligence market products in driverless cars, one of the major ways being touted by a certain school of thought as the major way of significantly reducing traffic related accidents.

Driverless Cars and the Global Automotive Artificial Intelligence Market

Major market giants such as Google and BMW are touting driverless cars as the future. In fact, so confident is the German government about the future of driverless cars, they have gone ahead and drawn up a list of ethical road guidelines for driverless cars already!

To connect this to the argument being mentioned above, a certain school of thought argues that road safety indicators would rise significantly if vehicles are automated using global automotive artificial intelligence market technologies. Driverless are unlikely to suffer concentration lapses, distractions, human errors etc. which are some major causes for traffic accidents worldwide.

Promulgation in self-driving vehicle technology, by transitivity would result in promulgation in demand for global automotive artificial intelligence market products. However, to be sure, there are a variety of challenges that need to be addressed before this will occur.

There are multiple obstacles in the way of global automotive artificial intelligence market: software reliability, inability of systems to work properly in places due to multiplicity of reasons, high cost of investment and maintenance, lack of optimal road infrastructure etc.

In addition to these challenges, resistance is also coming from people who depend on driving to make a living. In the US alone, successful implementation of global automotive artificial intelligence market technologies will render millions of people jobless.

According to the Bureau of Labor Statistics, there were approximately 1.7 million American truck drivers in 2014 earning a mean income of over $43,000. This, in addition to over 858 thousand delivery services drivers adds tot up to over 2.5 million jobs lost due to automation. And this doesn’t just end here.

Another 188,000 taxi drivers, 160,000 Uber drivers, 515,000 school bus drivers, and 169,000 transit bus drivers adds up to over 1 million jobs lost. Thus, successful integration of global automotive artificial intelligence market technologies will lead to a loss of over 3.5 million jobs. And this is in the US alone.

Therefore, while there is endless potential in such technologies, and the question of their successful implementation is a question of when, rather than if, there are several sociological, psychological, financial etc. questions that must first be answered.

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