Today’s world has gifted a pool of technological advancements, out of which artificial intelligence has become the most prominent. In everyday life, we hear about artificial intelligence, but what does it mean? Well, artificial intelligence defines the integration of human knowledge into computer systems or machines. More precisely, artificial intelligence enables machines to perform specific human tasks such as decision-making, visual perception, and language translations.
Artificial intelligence has already spread its wings in the transportation industry. AI service providers are always in search of emerging breakthroughs and innovations using which the transportation industry is experiencing remarkable transformations. AI in the transportation industry is working unimaginably and beyond, making human lives more comfortable.
If we talk about forecasts, studies revealed that the AI in the transportation industry would jump to 3.5 billion dollars by the end of 2023. However, it should not be denied that the future of AI in this industry seems to be an ideal combination of the good and the bad.
But how the AI will transform the transportation industry arises serious curiosity within all of us. Take a look at the valuable insights defining the domination of AI in this industry.
What Transformations will AI Bring to the Transportation Industry?
The most identified and critical objective behind the simulation of AI in the transportation industry is to make it more efficient and safer. The transportation industry has become versatile due to technological advancements, and with the contribution of AI Development Company.
Progress in the transportation industry is leading towards increased consumption of public and private transport. As a result, traffic congestion has become a significant concern for numerous countries. Here, the role of AI initiates by gathering voluminous data through the installation of cameras and sensors on roads with minimum or no gapping. AI-powered systems now analyze these datasets and notify commuters and drivers about the shortest and lesser traffic-congested route.
Autonomous or Self-driving Vehicles
Autonomous vehicles earlier was a fantasy, will now shape into reality, and all the credit goes to AI. Although driverless cars are already entered the market, drivers also present in the vehicle for taking control of emergencies. Less reliability leads to the continuation of AI research to bring autonomous vehicles to the maturity stage.
However, safety concerns are a significant part that makes people skeptical regarding these inventions. According to Statista, the global market of level 4 and 5 autonomous cars will reach US$ 6 million by 2030. With self-driving vehicles, AI service providers will develop software that can link public transportation to remote areas, as well.
Increasing pedestrian safety has been put into the bucket of AI concerns in the transportation industry. AI will make predictions regarding the paths for cyclists and pedestrians, and in return, it will save hundreds of people from road accidents and injuries. Not only will it allow for more usage of diversified transportation, but it also contributes to carbon emission reduction.
Effective Delay Predictions
According to a Berkeley study, flight delays cost approximately US$ 39 billion based on estimation. Flight delays not only bring financial loss but also ruin the passengers’ flight experiences. Here comes AI to rescue air transport companies from this trap. AI can use data lake technology for informing passengers in advance about the flight delays so that their waiting times can cut down. Using a computer vision system, unplanned downtime can abolish by uninterrupted monitoring of air-planes. Historical data, weather information, and real-time data of air-planes can extract for gaining valuable insights into flight delay patterns in advance.
Improvement in decision-making
AI will be proved beneficial for the transport companies as well. Better planning and decision-making can strengthen the transport companies, and this can attain by using accurate predictions in advance. It will be fruitful in making investment decisions cleverly. AI will continue to exhibit its capability in developing improved decision-making tools for the companies.
The transportation industry has always been questioned about public safety. Public and private transportation offers numerous concerns regarding general security, which also harms the image of transport companies. AI solution providers as a rescuer will make sure that their software will provide real-time information about the crime data and warns against the probability of crime occurrence in public travelling.
Increased utilization of AI will undoubtedly reduce the labour costs of the transportation industry. Decreasing accidents and costs consider one of the significant reasons for pulling AI into this industry. Other inventions, such as self-driving fleets, will replace human errors and eliminate higher chances of traffic accidents and congestion.
Risks of AI in the Transportation Industry
As mentioned earlier, a perfect blend of the good and the bad shapes the future of AI in the transportation industry. Increasing inventions of AI will bring risks for the people and transport companies. However, reducing fuel consumption, expenses, and traffic accidents will brighten the future of the transportation industry, it requires the associated risks to be taken into consideration while designing AI software. Let’s have a look at these drawbacks.
- It raises data privacy and cybersecurity concerns due to the automation and collection of voluminous data.
- Replacement of drivers will lead millions of drivers to lose their jobs. It will push the unemployment rates upwards more rapidly than job creations.
- AI service providers will find it challenging to make this initiative successful in third world countries and undeveloped economies. It is because of their unaffordability of infrastructure maintenance and repair.
- Rail transport may encounter sudden obstacles, including fallen trees or animals crossing tracks. Intelligent rail systems require excellent renovation, which is not possible in most of the countries.
We have just drawn a glimpse of AI integration into the transportation industry. The world’s future driven by AI will be beyond expectations and amazement. But, as a coin has two sides, these AI inventions hold the capability to destruct the industry if not used effectively. They will provide safety to the industry, but AI solution providers possess the responsibility to maintain the safety of these inventions. AI should provide us with travel and transportation web solutions that constitute the entire industry.