Self-driving motor vehicles, once thought to be a subject only fit for science fiction, are becoming a reality. In the not-distant future, children may not believe that their parents used to drive cars, any more than most of us today can imagine holding the reins of horse-drawn buggies. Considering how central the car is to modern life everywhere, the social and economic implications are enormous. Autonomous cars will offer better safety features and more efficiency. They will transform the auto-industry business model, pivoting from engines, gears and wheels to software, content and “user experience.” Getting anywhere could literally become half the fun. Related businesses, such as telecoms, software, media, freight transportation, semiconductors and insurance, will also face disruption and opportunity. There will undoubtedly be bumps in the road, including the issues of liability, infrastructure and consumer acceptance. However, none of these issues appears insurmountable.
[…]