Driverless cars may soon make popular ride-sharing services like Uber and Lyft obsolete, according to optimistic supporters of new entity trying to break the cycle.
Waymo, a subsidiary of Alphabet, plans to offer ride-sharing services using driverless Chrysler Pacifica minivans. According to the company’s leadership, consumers will be able to try the cars out for themselves within the next few months.
If the venture is successful, it stands to once again revolutionize public transit just as Uber and Lyft did not even too long ago. Waymo CEO John Kafcik says the rides will afford his customers an unprecedented level of privacy they don’t have with existing ride-sharing services.
“The vehicles will be fully self-driving,” he told CNBC. “So you have your own personal space where you can sit back and relax.”
While the privacy certainly seems like an attractive element, many consumers may still feel uncomfortable with the idea of essentially being at the mercy of AI-driven technology. Then again, this may not outweigh the discomfort many people have with stepping into a vehicle driven by a complete stranger, such as is the case with Uber and Lyft.
The aforementioned companies currently dominate the ride-sharing market, with CNBC reporting that Uber accounts for 70 percent of all ride-sharing sales. Lyft takes up 25 percent of the total, with smaller companies making up the remaining 5 percent. While not exactly a monopoly, it makes sense that even the word “uber” has become nearly synonymous with ride-sharing in the cultural vernacular.
Waymo’s driverless venture will kick off Phoenix, Arizona. The mobile application for calling for the vehicle will reportedly work the same way as Lyft and Uber.
Regards,
Ethan Warrick
Editor
Wealth Authority
