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Michael Schwarz: Rise of the Machines: The Economic Implications of Autonomous Vehicles

Self-driving cars, or autonomous vehicles (AVs), have become a reality that is already transforming technology and car-making industries. By 2030, it is possible that the majority of cars on the road will be driverless. Experts project that self-driving cars have the potential to increase productivity, make more space for housing and business in cities, create and destroy jobs, and dramatically undermine the case for car ownership as ride and car sharing becomes more common. Self-driving cars could add as much $7 trillion to the global economy and $2 trillion to the US economy alone by 2050. However, much of this money will go to car manufacturers such as GM as Volkswagen, as well as ride-sharing applications like Uber and Lyft. Technology companies such as Google are also poised to become major players in the self-driving car market, potentially disrupting the auto industry. Where currently car manufacturers’ dominate the auto industry, technology startups and ride-sharing applications are too competing in self-driving vehicle creation. What will happen to the auto industry when leading car manufacturers’ no longer dominate and technology startups/ ridesharing applications become larger players? How can self-driving cars benefit society and spur economic growth? What impact might this have on global trade? Join Michael Schwarz, Chief Economist and Corporate Vice President at Microsoft and former Chief Scientist at Waze, to discuss these bigger implications that self-driving will have on the economy. SPEAKER: Michael Schwarz Corporate Vice President and Chief Economist, Microsoft MODERATOR: Markos Kounalakis Visiting Fellow, Hoover Institution For more information about this event please visit: http://worldaffairs.org/event-calenda... ------------------------------------------------------------------------------------------------------ Facebook:   / worldaffairscouncil   Twitter:   / world_affairs   Website: http://www.worldaffairs.org