KPMG: New Automotive Advances Will Revolutionize Society

By Kalen Smith, Big4 Blogger

Earlier this week KPMG and the Center for Automotive Research released a new report on the future of the automobile industry. The report stated that the automotive industry is about to go through revolutionary changes in the coming years.

KPMG said that the industry has paved the way for a substantial number of technological advances in the past century. The report studied a number of these changes and predicts the impact they are likely to have on society. Analysts also discussed how likely consumers are to accept the new developments.

One of the biggest changes KPMG sees in the near future is self-driving cars. Consumers and engineers have been dreaming of self-driving cars for decades. KPMG said the industry is finally on the precipice of making this vision a reality.

According to Gary Silberg KPMG’s U.S. automotive industry leader, this technology would have wide reaching implications for the automotive industry. The industry would be forced to reform its entire business model. The changes would redefine the business models of organizations outside the automobile industry as well.

Although the development of self-driving vehicles would have a profound impact on the automotive industry, the report focused more heavily on how those changes would affect the rest of society. These vehicles would reduce the costs and injuries incurred by accidents and save time in traffic jams. The sensory technologies would also likely help consumers save a considerable amount of money on fuel.