As the age of autonomous travel continues to inch closer, it”s finally time to ask yourself, would you trust an autonomous taxi? For many people, the concept of a driverless vehicle is still an experience they have yet to enjoy. For others, they’re ready to take it up a notch. Here’s some valuable insight into the autonomous taxi sector, recent developments, and what it could mean for future roadways.
Autonomous Vehicles Stats
A recent study conducted by the McKinsey Center for Future Mobility highlights just how fast the autonomous vehicle market has grown and how people are more open to the idea of driverless cars compared to previous generations. Notably, these expectations varied based on region, with participants split between whether the US or China would be the first to go fully autonomous.
Source – Statista
The report also highlights a growing manufacturer and customer base, AI integrations, and a more diversified sector. Notably, analysts predict that L4 robo-taxis will become standard by 2010. The same data suggest that trucking will go fully autonomous at around the same time. Consequently, there may be more cars but far fewer drivers in the future.
Ground vs. Air Autonomous Taxis
Autonomous travel will come in many forms in the coming years. Already, there are locations serviced by autonomous vehicles. These businesses have seen great success. As such, they are more popular than ever. As the price of autonomous vehicles drops and the prospect of adding systems to traditional cars enters the scenario, it’s easy to see why there’s already a lot of support for ground-based autonomous taxis.
Interestingly, people are just as excited to leverage air autonomous vehicles to get around town as well. These devices pick riders up for their destination, fly a short distance, and drop them off at a designated landing area. This approach reduces traffic congestion, road wear and tear, and enables people to live in more inaccessible locations.
Top Benefits of Autonomous Vehicles
There are many reasons why people worldwide embrace a future where autonomous vehicles are the norm. For one, the added accessibility could make life much easier for millions who lack reliable transportation. Additionally, these units could provide 24-hour services, enabling more economic activity.
Improved Safety
Many analysts see autonomous vehicles as the ultimate step towards making the roadways safer. These groups envision highways free from human error, traffic congestion, and other ailments that have long made driving cars costly.
What’s Driving Autonomous Vehicle Sentiment?
A recent study conducted by researchers from NTU sought to determine the answer to this question. The research team is led by NTU’s Associate Vice President for Humanities, Professor Shirley Ho. Professor Who wanted to examine what makes people receptive to game-changing technologies, especially when they haven’t had direct contact with the tech yet.
Unified Theory of Acceptance and Use of Technology (UTAUT2)
The researchers behind the Unified Theory of Acceptance and Use of Technology (UTAUT2) study wanted to know how and why people knew the benefits of self-driving taxis and how they felt about advanced forms of autonomous travel, such as air taxis, that they had only heard about.
The study surveyed 1,002 Singaporeans using a five-point scale for questions. The participants were asked about their trust in air taxis, where they learned about them, the AI system that controls these devices, and if they intend to ride one in the future.
The team used the data to seek key factors determining public acceptance of new technology. The study determined that for most people, the news was the primary way they acquired knowledge regarding the technology’s capability.
The study looked deeper into the trust surrounding these projects. They broke trust into layers such as trust in the AI systems, trust in AI engineers, and attitude. This data provided valuable insight into the feasibility of these units taking flight in the Singapour skies in the future.
Results Don’t Lie – Air Taxis are a Go
The report found that 45.7% of those surveyed were likely to use an air taxi in the future. Notably, 36% state that they would use it regularly. Another cool detail the researchers noted is that nondrivers were the most interested in the devices, as they have the potential to make travel much easier for these individuals.
The study found that 6/10 believe traveling in air taxis will be fun with 53% claiming excitement over the developments. Additionally, 6/10 see these devices as a way to accomplish more in less time. As such, it’s no surprise to learn that 61% said air taxis will enhance productivity.
Main Factors Determining Public Opinion
The research team was able to determine the main influences on people regarding their desire to ride autonomous air taxis. Media coverage and public safety sentiment were at the top of the list. Here are some other factors that determine people’s probability of taking to the skies.
Trust in the AI Systems Used in Air Taxis
One of the key takeaways from the study is that people’s sentiments toward AI systems are much different than their feelings towards AI developers. The majority of people felt that AI integration into autonomous vehicles is a good thing that improves safety.
AI systems can operate in real-time and learn from their experiences. They can also make it much easier for humans and autonomous vehicles to interact. Large Language Model AI systems like ChatGPT4 can already hold intelligent conversations. In the future, your autonomous taxi might be as interesting as your current driver.
Attitude Towards Flight
Those who don’t think highly of flying don’t seem to want to ride air taxis all the time. However, they were willing to use these vehicles, acknowledging the benefits that they bring to the market. Additionally, the integration of parachutes and other life-saving systems has helped to make personal flight safer than ever.
Performance Expectancy
The study highlighted that people have high expectations for these taxis. They expect to avoid rush hour traffic, get to locations faster, and enjoy better parking. Flying EVs opens the door for a more sustainable global transportation system. Additionally, integrating AI systems will help to continually improve performance.
Hedonic Motivation
Another interesting data point that researchers examined was hedonic motivation. How willing is society to accept new technologies? In Singapore, the community has always been ready to try new things. However, not all markets will have this open perspective. Additionally, there will be pushback from traditional automotive manufacturers to try and remain the dominant form of travel in the future.
Price/Value
There is a lot of perceived value in air taxis. These units cost more than traditional taxis but they cut times and allow you to journey without delays, making the added cost worth it for most people. Advancements in batteries, charging, and green energy will continue to drive prices down for these systems.
Social Influence
Social influence is another major factor determining the response a community will have towards new tech. Influencers can help alleviate concerns and make technical subjects and products seem more approachable to the average person. As such, social influence will play a vital role in helping to take air taxis from concept to reality.
Why People Trust Air Taxis
Researchers determined that the trust in air taxi travel was so high, despite most people never even seeing one in person, due to trust in AI systems and exciting media coverage. The report highlights how legislators could use this data to help streamline the integration of new technology. It shows that the ability to shape public perception is a primary factor in driving tech adoption.
How Far Away Are Air Taxis
Air taxis are already being tested in various cities globally. Notably, China has taken a strong position towards integrating air taxis into its community. The Chinese Aviation authority has already begun to issue safety certificates for these devices. As a major drone hub, Chinese manufacturers are eager to attempt to corner the autonomous air taxi market.
The US and Europe are also embracing the concept of air taxis. Notably, French authorities are currently seeking to certify air taxis to serve passengers at the upcoming Paris Olympics. If successful, you can expect to see these devices showcased on every news station during the event.
Singapore – Air Taxi Hub
Interestingly, Singapore seeks to become an air taxi hub. The city wants to entice manufacturers and be among the first to integrate these services into their market. This dedication to innovation and new tech could help to make Singapore the regional powerhouse for startups and manufacturers seeking friendly shores.
Will Air Taxis Arrive Before Autonomous Ride-Hailing Land Vehicles?
For most people, autonomous taxis will be the first option to hit the streets. However, it won’t be much long after that air taxis will become a common sight. Notably, a blockchain system could be used to integrate these networks and enable passengers to purchase tickets that extend across both their air taxis and ground travel.
Depending on where you live, you could see air taxis before autonomous ground taxis. The reason for this scenario is that ground travel requires much more complex systems and tasks. Air travel is easier when discussing object avoidance and other crucial factors that make autonomous driving a difficult task to accomplish perfectly.
Autonomous Vehicle Companies to Watch
The autonomous vehicle market is on the rise with most manufacturers working on some form of automation in the coming months. Firms like TESLA remain the outspoken front runners in this market, as they were the first to get affordable products to the masses. Here are some other autonomous vehicle manufacturers to watch.
1. Joby Aviation 
Joby is the next-gen air taxi service provider seeking to get licensed in the UAE. The firm has made significant strides in its efforts and has already tested working models in Dubai and abroad. In one instance, the air taxi was used in NY. Notably, these taxis still rely on pilots for the majority of their flying. However, in the future, AI will take the reins.
The Joby air taxi is no slouch. The unit can carry 4 passengers and a pilot at 200 mph in comfort and style. These speedy air taxis leverage six powerful electric-driven propellers. These motors provide cleaner and more efficient energy compared to combustion engines. As such, you could see these craft delivering passengers in the coming years.
Joby Aviation stock has stabled out following a slow loss in value over the last 52 weeks. The stock has a market cap of $346B and is predicted to see growth as its taxi services are set to go live in the coming weeks. As such, Joby is considered a strong addition to your portfolio.
2. Uber Technologies Inc. 
The ride-sharing giant Uber has pivoted towards autonomous vehicles as of late. The firm inked a strategic partnership with Motional in 2022 to provide autonomous Uber service to Las Vegas. The project will see a fleet of self-driving Ubers hit Vegas streets with plans to expand to LA by 2025.
As the most popular ride-sharing platform, it makes sense for Uber to embrace autonomous vehicles. This maneuver could help the company secure additional value by reducing dependency on its drivers. It also opens the door for the firm to provide more complete services and even to offer coverage packages that include vehicles to communities.
Uber is a popular stock that has seen some volatility. The company remains a leading option in the market and has been rated a “buy” by multiple analysts. For these reasons, Uber is a strong addition to any portfolio.
Autonomous Taxis Have a Bright Future
There are many reasons why the demand for autonomous taxi services is so high. As such, it is no surprise to learn that the autonomous EV market will increase significantly over the next decade. The research put forth in this study could help ease the pace at which the integration of this tech occurs, making the dream of fully autonomous taxis a reality.
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