As early as 2021 autonomous vehicles will be taking the market by surprise. Autonomous vehicles have been in development for many years and with every passing year they become smarter, faster, and more efficient. With autonomous vehicles come safer roads, job loss, and economic benefits. Autonomous vehicles can create safer roads for many people because of the many cutting-edge technologies being used in the vehicle such as laser sensors, ultrasonic radars, and lidar technology. According to many studies done, autonomous vehicles will drastically low the death rate of car accidents due to fewer human mistakes being made.

With lidar technology being the center of autonomous vehicles, it makes roads much safer because lidar technology is able to generate precise three-dimensional images of any thing around the vehicle, with lidar technology, numerous sensors, and ultrasonic radars built within the vehicle forms a recipe for safer roads. The only down side is manufacturing the lidar technology because of the price which in turn prevents many tests from being done. Autonomous vehicles also have many cons to it, one being a decline in service driving occupations such as taxis, delivery, and many more. Many service driving jobs are going to get hit hard when autonomous vehicles arrive in the market since machines will be much more efficient than any human driver can be. If autonomous vehicles were to take over certain jobs, such as truck drivers and taxi drivers, the economy would see an immediate impact in the unemployment rate due to machinery being more efficient. In the long term the economy will eventually stabilize and fix itself because many of the workers could shift to new industries and boost the economic productivity in those fields or the workers could continue their education for a better job.

The economy will no doubt benefit from the efficiency of autonomous vehicles because they will be able to generate more profit by never needing to stop and will not need too much maintenance. The economy would seriously benefit from autonomous vehicles from the improved traffic efficiency to saving time and fuel. Traffic efficiency will soar due to the many sensors within the vehicle. It will be able to find the most efficient path and reduce traffic congestion while saving time and money.

Fuel consumption will also decrease because autonomous vehicle will be able to find more optimal paths or be able to find a parking spot since all autonomous vehicles will be linked together. With autonomous vehicles reducing crash rates, this in turn reduces the amount of money being paid toward car accidents, resulting in a large boost in production and economic value. Autonomous vehicles can easily change how the world operates from day to day, from the way delivers are made, to what is the quickest way a destination, or simply letting the vehicle take over while on vacation. Regardless of the circumstances, the benefits that autonomous vehicles provide easily outweigh the risks set forth.