With the advances in Artificial Intelligence (AI) and the embedding of AI in automobiles, the Federal Government National Highway Traffic Safety Administration is considering whether to classify a computer running an autonomous vehicle as a driver. This decision was in response to the Google X self-driving car program to gain regulatory approval and design requirements to make these types of vehicles a reality. These vehicles are expected to be available to the market, being driven (no pun intended) by mostly younger owners, within a few years.
As a follow up to my article on 12 Strategic & Tactical Questions to Prepare for Insurance in the Future I think it would be good to discuss the questions one at a time to look a little more deeply at the impact on your insurance business. We mentioned that by 2020 there will 50 billion devices connected to the Internet worldwide, also known as the Internet of Things (IoT).