Technology is in the process of completely transforming all aspects of 4 industries – construction, medicine, retail, and transport – with a significant reduction in the need for human labor. Here is the impact on the Transport Industry:
- The return of electric-motorized vehicles (invented in 1884; by the early 1900s, nearly 40% of American cars were electric) will decimate the current car industry infrastructure (dealers, maintenance and repair, gas stations). Nearly 20 major countries have stated their intent to phase out combustion engines.
- The development of autonomous vehicles (cars, buses, trucks, trains, ships, and aircraft) will increase travel safety, while not requiring human control.
- Vehicle sharing/renting (Uber, Lyft) will reduce car ownership, especially in cities, which will reduce the need for parking spaces, freeing up large areas for pedestrian traffic. Garages will be turned into mini-apartments.
- High-speed inter-city travel (via trains or hyperloop tunnels) will enable long distance commuting.
- The time for Inter-continental travel will also be greatly reduced (hyperloop, space travel).
- Flying taxis will start operating in a few cities world-wide in 2020.
- Elon Musk has innovative businesses involving many of the above: Tesla (autonomous electric vehicles), Solar City (batteries), The Boring Company (tunnels for hyperloop travel), Space X (hyperloop, inter-continental travel).
The technologies involved in the above include electric motors, energy storage (electric car batteries), AI (autonomous operation), hyperloop (inter-city travel), drones (flying taxis), reusable space shuttles (inter-continental travel), virtual reality (travel booking)..
The number of jobs in the Transport Industry will be significantly reduced:
- Autonomous operation will eliminate the need for truck drivers and couriers (including pizza delivery drivers), and reduce the need for ship crews and aircraft pilots.
- Electric cars will reduce the need for car salespeople, distributorships, and mechanics.