How autonomous cars are set to impact business and how to prepare

Autonomous vehicles are coming. Consider these developments to learn more about how it will affect your supply chain management

24Oct

Recent news and developments make it clear that autonomous vehicles are on their way to the mainstream.

Because of this, you need to perish the thought of "if" and "when" they'll become the norm, and should instead get a foothold in this industry so your company can thrive.

If you want to secure your supply chain management practices for today and the future, you need to learn more about these vehicles. Consider the tips below so that you can get an understanding of autonomous automobiles, how they'll be used and how you can invest.

Laws are being created, and autonomous vehicles will revolutionize logistics

Earlier this week, experts boldly announced that we can expect autonomous semi-trucks to become the norm in logistics and supply chain management within two years. This means that computer-powered trucks with no driver and no safety follower will be used by companies shipping their goods all across the country.

The government appears satisfied with the research and testing that experts have conducted over recent years. The Department of Transportation (DOT) will yield the right of way, as they issued a 70-page document stating that they changed the definition of "operator" and "driver", to allow for AI-driven vehicles.

With these new guidelines in place, expect autonomous vehicle companies to ramp up spending and research, so that they can be at the forefront of the industry. 

Since it's now clearer than ever that autonomous vehicles are coming, you need to begin making provisions to implement them in your own company. Set up a 5-year plan to begin figuring out what role these vehicles will play in your company, whether you need them for long-distance travel or short-distance deliveries.


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Figure out the key players and how you can invest

When you want to be on the cusp of this technology, the best thing you can do is invest and stay abreast of the industry.

As you might expect, companies like Google and Tesla are at the forefront of the development of autonomous vehicles. The AI technology that these vehicles use will create countless opportunities that will change several industries. For instance, Tesla announced that they're creating technology that will allow a person to buy a brand new vehicle off the assembly line, and have the car autonomously driven to them once it's completed. 

Dominos pizza will make self-driving deliveries and will use AI to keep up with its inventory.

In addition to taking ideas like this and using them for the betterment of your own business, you'll want to invest in the industry itself to keep it thriving. If you want to propel the development of autonomous vehicles, make sure your company portfolio invests in stocks like Aptiv (APTV), an auto parts manufacturer, Ambarella (AMBA), a semiconductor manufacturer, and software giant Morgan Stanley.

You'll want to track these companies diligently to see where the industry is headed, so you can use these tips to mold the direction you plan to head. The sooner you get involved in using autonomous vehicles in your company, the greater the edge you'll get on your competition.

Contemplate these tips and keep researching autonomous vehicles.

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