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The United States is engaged in a global race to develop breakthrough technologies that will determine which nation will lead the 21st century innovation economy, a race that has become especially evident on American roads with the rise of autonomous vehicles (AVs).
But with an international competition for innovation leadership underway, it is essential to understand the significant impact these emerging technologies will have on American society.
To better understand what these impacts might be, a new U.S. Chamber of Commerce report, “Innovation Highway: Unlocking the Benefits of Autonomous Vehicles,” authored by former U.S. Under Secretary of Commerce Dr. Robert Shapiro, uses advanced economic modeling to measure the significant socio-economic benefits of autonomous vehicles. These benefits include reduced traffic accidents; increased mobility for seniors, people with disabilities, and non-drivers; improved air quality; and significant economic potential.
The report’s findings can also serve as a roadmap for policymakers and regulators to create the conditions to realize the full potential of AV technology while fostering innovation and competition.
Watch: The Future of Self-Driving Cars
Key findings
The study found that if autonomous vehicles made up 25% of the U.S. vehicle fleet in 2021, the potential benefits would include:
Improved Safety: Autonomous vehicles could prevent 1,442,000 accidents and 12,000 fatalities, resulting in economic savings of $94 billion. Improved Mobility and Access: Autonomous vehicles could increase annual vehicle miles traveled (VMT) by 4.6 billion miles for people with disabilities, 4.9 billion miles for seniors, and 2.4 billion miles for non-drivers. Enhanced Economic Competitiveness: The growing AV sector is essential to strengthening the future of America’s auto industry, which creates more than 4 million jobs, and will enable the growth of new and existing industries that are key to economic growth and competitiveness. Additionally, the mobility benefits of AVs also include increased employment and income for non-drivers, people with disabilities, and those living in areas with limited access to public transportation.
Global AV Leadership
“The country that leads the world in autonomous vehicle innovation will set the rules of the road for a generation,” Dr Shapiro said.
The report analyzes the safety, mobility, climate and economic benefits of AVs and addresses the geopolitical implications of their emergence in the U.S. and global markets. Specifically, it warns that U.S. manufacturers will face increased competition from China and other foreign competitors, further necessitating U.S. leadership in AV innovation.
AV Adoption Timeline
While the timeline for widespread adoption of AVs varies (some experts predict it will occur within the next five to 15 years), policymakers can expedite this timeline by adopting a national AV framework and revising safety standards to encourage continued innovation and development of the technology.
Policy Recommendations
The U.S. Chamber of Commerce has urged policymakers to take the steps necessary to advance the development and implementation of this guidance. These recommendations include:
Enact a National AV Regulatory Framework: Congress should enact a national regulatory framework for AVs that increases the number of exemptions for innovative motor designs, expands AV testing, directs the U.S. Department of Transportation (DOT) to modernize motor vehicle safety laws, and retains the federal government’s authority to regulate AV safety. Modernize Existing Safety Regulations: The U.S. Department of Transportation should update existing safety regulations to accommodate new vehicle designs such as AVs, and create an effective national demonstration and deployment program to facilitate the commercialization of AVs.
About the Author
Jordan Crenshaw
Crenshaw is senior vice president of the Chamber of Commerce Technology Engagement Center (C_TEC).
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