February 5, 2016
From Google to Uber and more, driverless cars are in society’s very near future, but the automotive industry will not be the only business affected by this advent. CB Insights released a report that provides opinions on the five sectors that will likely be disrupted:
1. Fast food- 70% of McDonald’s sales are drive through, and with driverless cars, less people will stop by a fast-food chain en route. Also, fast food locations near gas stations may see less business, as driverless cars will likely refuel without passengers
2. Media & Entertainment: Broadcasters can capitalize on the time freed up during transportation to send advertisements that are location-specific to one’s route
3. Hotels– Many travelers may opt out of one-night stays if they don’t have to drive during long road trips
4. Real estate– Property values will shift when the commute to work is less of a factor to consider. City planning and parking will undergo changes, too.
5. Airlines- Shorter flights will have less demand as the lower cost and convenience of driverless cars will be more appealing.