I don’t mean to offend you, but you’re an absolutely terrible driver.
If it’s any condolence, though, so am I — along with just about every other human being who has ever sat down behind the wheel.
According to the International Organization for Road Accident Prevention, 90% of road accidents are a product of human error. This fact shouldn’t be too surprising considering how commonly we change lanes without signaling, fail to check our blind spots, and even drive under the influence of alcohol.
Adding to these lapses in judgment, we pass on the right, ride the hard shoulder, and consistently break the speed limit. We tailgate, race through yellows, and, of course, commit the infamous “rolling-stop” at those pesky red octagons.
If you do happen to be innocent of such reckless behavior, you’re certainly in the minority. The Federal Highway Administration has sponsored numerous studies on driver behavior over the last decade, finding that as little as 3% of drivers remain in compliance with basic traffic laws on a given trip.
Of course, no one ever wants to admit this — we tend to think of ourselves as guiltless champions of the road, while everyone else happens to be a good for nothing *insert preferred expletive here* — but the fact is the world would be a much safer place without us behind the wheel.
The $0 Premium
Each year, there are over 10 million reported traffic accidents in the U.S. alone, resulting in more than 30,000 human casualties and approximately $300 billion in damages. Human traffic errors aren’t just dangerous — they’re incredibly expensive.
We’re fortunate enough that throughout the last several decades, improved vehicle safety features have drastically cut down on fatality rates, but monetary costs have regrettably moved in the opposite direction. While we’ve done an excellent job of making accidents safer, we’ve made essentially zero progress in terms of accident reduction.
As for who foots the bill, private insurance companies cover nearly half, while the remaining majority is paid for by individual crash victims and government revenue. No matter how you categorize it, though, it’s all ultimately coming out of your pocket.
Now, you probably don’t need me to sit here and tell you that insurance is expensive. American drivers spend an average of $1,500 annually for each vehicle, and you’re likely somewhere in that ballpark.
But what if I told you there’s a way to get rid of car insurance altogether and to bring that average premium down to virtually nothing?
It might sound unrealistic, but it’s certainly a possibility with today’s technology. And rest assured, I’m not talking about relying on public transportation or switching to Geico — I’m talking about the inevitable impact of fully robotic, driverless vehicles.
Robo-Chauffeur
Chances are you’ve heard about Google’s self-driving car project. If you haven’t, it’s pretty much exactly what it sounds like — Google engineers have developed a robotic vehicle capable of navigating through public roads without the assistance of a human driver.
What you may not be aware of is that the company’s robotic vehicle fleet has already driven 700,000 miles on public highways and urban roadways with no more than a minor fender-bender. For context, that’s the equivalent of 58 years, or virtually an entire lifetime’s worth, of human driving.
In other words, safe and effective robotic cars aren’t just a pipe dream — they exist today and are primed to become the standard of tomorrow.
Unlike human drivers, robots lack emotion, never get tired, and can pay attention to everything around them all at once. You might have two eyes and three mirrors, but Google’s robo-chauffeur has 360 degrees of constant vision.
This vision is made entirely possible by a remote sensing technology known as LIDAR (Light Detection And Ranging). By firing a collection of lasers out at different angles, Google is able to map the surrounding environment in real time and create an image that looks like this:
Specifically, Google’s robotic cars use a unique LIDAR system known as HDL-64, produced by a small electronics company out of Silicon Valley.
The system sits on top of the driverless vehicle with 64 lasers rotating at up to 1,200 rpms, providing the vehicle with enough information to respond appropriately to traffic lights, construction zones, and even bicyclist hand signals.
Now, it might look a little fuzzy to you, but the fact is robotic imaging is actually far more efficient than human sight. Humans tend to only pay attention to one thing at a time. A robot doesn’t have those kinds of limitations.
And robotic imaging isn’t just limited to public roads. These systems are already being used for industrial, military, and mining purposes as well. Caterpillar Inc. (NYSE: CAT), for example, has outfitted these systems atop a fleet of autonomous and semi-autonomous mining equipment.
In a world where robotics can see everything at once and can make decisions within fractions of a second, human error will be removed from the equation. When it comes to car crashes, roadway accidents will be reduced as much as 90%. Google’s robotic cars can already attest to this fact.
If you read between the lines, you know exactly what this means for the car insurance industry. No driver-caused accidents means no need for insurance claims, so you can say goodbye to your provider and say hello to the zero-dollar premium.
Don’t forget to thank the robots while you’re at it.
Turning progress to profits,
Jason Stutman
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