AUSTIN, TEXAS – That group of people everyone is sick of hearing about – millennials – and the application of AI in driverless vehicles were two hot topics at the Filene Research Institute's big. bright. minds. conference Thursday. Here are some key takeaways from the first day of the conference, held at the Hilton Austin in downtown Austin, Texas.
Driverless Vehicles Are Coming
When the use of driverless vehicles becomes widespread, the change won't just disrupt the auto lending market – it'll disrupt society as we know it. The cost of insurance will go down as fewer crashes take place on the road, the DMV may no longer be needed as driver's licenses become unnecessary, and there will be no parking lots, no traffic policing and no need for local mechanics, Hope Schau explained in her presentation. Schau is a Filene fellow and professor of marketing at the University of Arizona.
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