In recent times, many technologies have evolved that can impact the working of the logistics industry. Autonomous vehicles are one such technological innovation that can change the dynamics of logistics widely. Such vehicles integrate different technologies and can be driven without human intervention. Not only automobile companies, but top technology giants have also invested heavily in this technology.
SpendEdge, a provider of procurement market intelligence solutions, has released an article looking at the impact of autonomous vehicles in the logistics industry. Below are some of the key takeaways.
Impact of Autonomous Vehicles in the Logistics Industry
Despite driving 1.4 million miles without a single incident, many people believe that using such technology in the logistics industry is not safe. They tend to ignore the accident rate for cars driven by humans. Autonomous vehicles can not only eliminate driver-related errors, improve vehicle safety but also ensure that goods reach the destination safely.
Autonomous vehicles can make split-second decisions that are not possible for humans. With the use of AI technology, autonomous vehicles can process huge amounts of data and make decisions in a few seconds. An autonomous vehicle can identify best travel routes to minimize time on-road, drive at optimum speed, thereby, improving the efficiency of logistics companies.
With advanced decision-making capabilities, autonomous vehicles can realize fuel and time costs. Improved safety also can minimize damage and insurance costs. This will propel insurance companies to accept a low premium amount for autonomous vehicles in the future. Companies can also save a significant sum on personnel costs.
To learn more about the impact of autonomous vehicles in the logistics industry, read the complete article here.