The impact self-driving cars will have

15

October

2018

No ratings yet.

When is the last time you stepped into a car? And when is the last time you had a driver behind the wheel? Chances are your answers will vary greatly in the not too distant future. Self-driving cars already have prototypes which are being used by consumers and are continuing to improve with every update. The significance of this innovation and the impacts it will have cannot be understated.

There are countless benefits to self-driving cars which are clear as day. Being able to relax behind the wheel or even fall asleep whilst being driven to your location is only a minor benefit. Having highly advanced self-driving cars will result in far less car related accidents and deaths (which currently stands at 40,100 in the U.S. alone), traffic jams will eventually completely disappear, estimated 160 billion dollars in gas will be saved each year in the U.S. due to these efficiency improvements, and far less space on roads will be required due to human error not being something that must be accounted for anymore.

However, despite these appealing benefits, naturally there will be drawbacks we must face. One of the biggest drawbacks are the loss of jobs. If we look at the taxi industry, there are currently 305,100 jobs in the U.S. alone, which will all likely be replaced in the future. More significantly, trucking jobs, which account for 3.5 million jobs will also be replaced eventually as self-driving trucks will inevitably become a thing (Volvo is already releasing concepts for such a feat). These significant loss in jobs will cause huge social problems and must be carefully evaluated by governments to prevent massive unemployment.

As a result, we are faced with incredible benefits, but dangerous drawbacks. However, seeing as this is almost an inevitable change waiting to happen, we must focus on how to prevent the drawbacks from getting out of hand and making sure the benefits foster into the great positive benefits they can become. One solution to this could be to create more jobs in related sectors, such as the continuous design of self-driving cars, maintenance, etc. Alternatively, education can be promoted even further by subsidizing fees, in order to ensure that the people who lose their jobs will be able to go back into school and learn new skills and talents, on top of more young adults following through with an education as well.

Author: 430863js

References

5 benefits of autonomous cars. (2018). Retrieved from https://www.gemalto.com/review/Pages/5-benefits-of-autonomous-cars.aspx

Alpha SQUAD official. (2018). Volvo Autonomous Driving Truck – Volvo Self Driving Truck / Volvo Vera Self-Driving EV, Volvo Trucks [Video].

Bergener, J. (2018). Top 5 Disadvantages of Driverless Cars | Bergener Mirejovsky. Retrieved from https://www.bergenerlaw.com/top-5-disadvantages-of-driverless-cars/

LeBeau, P. (2018). Traffic deaths edge lower, but 2017 stats paint worrisome picture. Retrieved from https://www.cnbc.com/2018/02/14/traffic-deaths-edge-lower-but-2017-stats-paint-worrisome-picture.html

Taxi Drivers, Ride-Hailing Drivers, and Chauffeurs : Occupational Outlook Handbook: : U.S. Bureau of Labor Statistics. (2018). Retrieved from https://www.bls.gov/ooh/transportation-and-material-moving/taxi-drivers-and-chauffeurs.htm

Please rate this

The importance of staying up to date in the ever digitizing world

13

October

2018

No ratings yet.

Have you ever heard of Sears? If you haven’t, then you are essentially saying that you have never heard of the largest retailer in the 20th century; and that is not your fault. For the ones that do remember Sears and their phonebook sized catalogues that come to your door, will know that their popularity has gone far down as of recent years. If you’re wondering what happened to this 125-year-old titan company, the answer is quite simple; digitalization.

E-commerce has been on the rise ever since the turn of the 21st century. Yearly growths of approximately 15% led to ecommerce accounting for 13% of all retail sales in the U.S. The importance of an online presence has never been higher and will only continue to grow. So, did Sears fail to adapt to the digital age, or did it just start to adapt too late? Unfortunately for Sears, it appears their faults lay in both aspects.

It wasn’t until 2015, when Sears had already lost a whopping 96% of its value, where they announced they were going to institute an “integrated retail service”, or in less fancy terms, an online store. To put this in perspective, Amazon was already earning over 100 billion in revenue at this time. Then, looking at their actual digital tools such as their website, the app, online loyalty programs, and other digital tools, they all fall flat as well. The app, which is similar to the website in terms of functionality, had 1.5 stars in the iOS app store. Their online loyalty program showed promise, however with the overall lack of digital presence, made only a small dent. In sum, their overall digital tools failed to attract shoppers and as such, have pushed them to the point of bankruptcy.

Digital technologies have a larger influence on industries than ever before, and Sears is a perfect example of what can happen when you fall behind and poorly implement these tools. On the other end of the spectrum, companies such as Wal-Mart, Target, and Kohl’s, show that it is possible to stand up to companies such as Amazon, and be successful. This is only one example of a company falling to the inability of keeping up with digitalization, and many companies are taking note. Companies such as Facebook, Google, and many more are doing everything they can to stay ahead in their field by, for example, investing into technologies such as AI, which is believed to be another revolutionizing technology of the future. The era of digitalization presents a sea of opportunity together with dangers for existing companies and must be prepared for accordingly.

Author: 430863js

References

Albanese, J. (2018). How Sears and Macy’s Are Transitioning into an Improved Digital Strategy | Centric Digital. Retrieved from https://centricdigital.com/blog/digital-strategy/how-sears-and-macys-are-transitioning-into-an-improved-digital-strategy/

Ali, F. (2018). A decade in review: E‑commerce sales vs. retail sales for 2007-2017. Retrieved from https://www.digitalcommerce360.com/article/e-commerce-sales-retail-sales-ten-year-review/

Greenfield, M. (2018). Amazon: annual revenue 2017 | Statista. Retrieved from https://www.statista.com/statistics/266282/annual-net-revenue-of-amazoncom/

Sears tanked because the company failed to shift to digital. (2018). Retrieved from https://www.businessinsider.com/sears-tanked-because-the-company-failed-to-shift-to-digital-2016-8?international=true&r=US&IR=T

Zalubowski, D. (2018). Sears, once the world’s biggest retailer, now faces bankruptcy. Retrieved from https://www.nbcnews.com/business/business-news/125-year-old-sears-file-bankruptcy-report-n918446

Please rate this