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According to a report issued by McKinsey & Company via Reuters, self-driving vehicles could reduce car accidents by as much as 90 percent.
Estimates show this could lead to savings of nearly $200 billion per year from fewer injuries and deaths.
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The research and consulting firm predicts the U.S. will see early implementation of self-driving cars within the next 20 years, with mass adoption by 2040.
The Benefits Of Self-Driving Cars
Further benefits of self-driving cars include the increase in free time for commuters (which average about 50 minutes a day driving), and the decrease in need of parking lots (assuming the cars drop passengers off at their destinations).
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Experts estimate this could save 6.8 billion square yards of land in the United States alone.
Prototypes Coming
Google Inc (NASDAQ: GOOG) (NASDAQ: GOOGL), for example, has already started testing self-driving car models.
Quartz reports Google X, the lab that manages Google's self-driving car program, may introduce prototypes to the public by the end of this year.
The tests are expected to give Google a perspective on how users would interact with the technology on a day-to-day basis.
The timing of the pilot program will be determined on how quickly Google's technology can detect road signs and the presence of other vehicles.
Image credit: Tabercil, Wikimedia
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.