Google Inc (GOOG)’s Driverless Cars Will Be Huge Boon For All

Cheaper Insurance

Google Inc (NASDAQ:GOOG) estimates accidents would go down by 90% with their technology. Based on the fact that most accidents are attributed to human error, it’s easy to see why insurance costs would go down.

Less Medical Care Needed

A good number of visits to the ER come from traffic accidents. On the assumption that we have 90% less accidents, that means less medical care is needed, and cheaper medical insurance for Everyone.

Independent Seniors

The AARP should be a proponent of driverless cars. How many of us know members of the 70+ crowd who have had their keys taken away, or really should have them taken? Most can’t afford a driver, and have to rely on younger relatives/friends to take them where they need to go.

No longer! They just call in your Google Inc (NASDAQ:GOOG) powered car. Freeing them up to do chores/ go places they wouldn’t otherwise go/ nag you in person.

Productivity Increase of Society

Instead of concentrating on the road in front of you, wasting time in traffic (you’ll get places more quickly) developing road rage, you can be in the back seat sipping a cappuccino, watching a presentation you need to for work, Skyping with someone/ planning, hell, even making love (join the 100 mph club) … you can be working/ producing with the time you’d otherwise have to spend staring at the road.

All that time the cops spend clearing the roads, doing accident reports can now be used for something else. I mean, the list goes on and on …

Who’s Against It/ Stands to Lose

Like all new technologies, there will be luddites. We will explore that in an upcoming column. We will also be exploring the possibilities involved for car companies and others, such as Toyota and GM.

Bottom Line

My goal here was to give some examples of how this technology promises to be incredibly disruptive. If you’re a Google Inc (NASDAQ:GOOG) shareholder you should be super excited. If this produces even 10% of its immense potential which I have only begun to outline it’s easy to see how Google (or whoever gets driverless cars right) might generate multi-billions of dollars in profits and how we, as a society worldwide will benefit as well.

Please feel free to enter your thoughts below. We are witnessing this technology in its infancy and if you have a brainstorm as to what might transpire, leave us all a thoughtful comment.

The article Google’s Driverless Cars Will Be Huge Boon For All originally appeared on Fool.com and is written by Margie Nemcick-Cruz.

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