Cars are gradually becoming supercomputers on wheels due to rapid technological advancement. The automobile industry’s transformation has the potential to make mobility safer, more sustainable, and more inclusive. The ‘Automotive In the Software-Driven Era Initiative’ brings together automotive, new mobility, and information technology firms to make a positive impact.
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The days of mechanical components being the most sophisticated portions of an automobile are long gone. Cars are evolving into mobile supercomputers. Data, software, and artificial intelligence (AI) are increasingly altering the sector. We have arrived at the age of the software-driven car.
This is the most significant revolution in the automotive industry since Henry Ford constructed the first moving assembly line for mass manufacture of vehicles over a century ago. Intelligent vehicles are transforming not only the industry, but also how we all experience mobility. They have the potential to improve our daily movement by making it safer, more sustainable, and more inclusive.
- Improved mobility
According to data from the National Highway Traffic Safety Administration (NHTSA) and other research, human driver error causes more than 90% of traffic accidents. Technology, such as Advanced Driver Assistance Systems (ADAS), can help to achieve the goal of zero traffic fatalities. After all, machines, unlike people, do not all make the same mistake twice.
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But how do safety technology like ADAS contribute to increased road safety? Six main layers can be used to simplify the software-defined vehicle. Figure 1 depicts, in a simplified form, how these six layers contribute to road safety in the context of a specific use case: recognizing an object laying on the road.
Over the last five years, the World Economic Forum has worked on many initiatives related to autonomous vehicles (AVs), with the goal of informing both industry safety practices and AV public policies. The Safe Drive Initiative, for example, examined the issues around understanding the safety of AVs and recommended a scenario-based approach to ensuring safe vehicles on our roads.
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- More environmentally friendly transportation
Intelligent vehicles can also offer more environmentally friendly mobility. Electric vehicles (EVs), for example, require well-functioning software solutions to operate. Intelligent electrical vehicles will also assist stabilize the electrical grid as technology advances. They will be able to prioritise charging when green energy is available and even serve as decentralized energy storage devices, returning electricity to the grid during moments of high energy demand.
We can also see long-term benefits by supporting shared AVs. For example, New York City could free up the equivalent of around 900 blocks of parking space, and Los Angeles could reduce CO2 emissions by 2.7 million metric tons each year.
- Increased mobility for all
Intelligent vehicles are already simplifying driving with features like parking assist, and once fully autonomous vehicles are on the road, they will improve mobility for all by requiring neither a driving license nor a driver to get from point A to point B.
Intelligent vehicles, when combined with personalized in-vehicle amenities and seamless multimodal journeys, will make travel easier for people of distant places, as well as the disabled and old. They will also be beneficial to the general public. For example, according to an earlier study conducted by the World Economic Forum and Boston Consulting Group (BCG), on-demand mobility will account for one-third of all journeys in Boston, USA.
How can intelligent vehicles be used to their full potential?
Bringing intelligent, software-defined vehicles to life necessitates a unique combination of automotive and technology industry competencies. The World Economic Forum has launched the Automotive in the Software-Driven Era Initiative to steer the present change and realize the potential of intelligent automobiles.
This program, which is being carried out in cooperation with BCG, has already brought together more than 30 top companies. The effort is shaped by a strong ambition: to help improve safety, inclusivity, sustainability, and overall system resilience through cross-industry and public-private partnership. The participating firms have collaborated to create a common framework of layers and stages leading up to the software-defined vehicle. Figure 2 depicts these transformative stages, as well as the essential strategic decisions that industry must make to progress along the path. Each level adds to more secure, sustainable, and inclusive mobility. Which aspects of intelligent vehicles are you most excited about?
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