CEO Insider

Future of Transportation

In a dynamic changing world, most sectors are witnessing transformation. It is the speed, precision and safety that are the key drivers. Most transportation agencies are accelerating to translate mobility into a more seamless, sustainable, accessible, affordable and safe option. As a CEO in this sector or as an entrepreneur, how contemporary are you?

We are still in the same problem-solving mechanics, with the principle need to move people from point A to Point B. For cities engaged in solving the ‘over-rush’ conditions due to population pressure are undergoing all sorts of complexities. The geography may be different, the modes of transportation required shall vary, the infrastructure set and the financing. The task before the industry leaders is daunting and getting complex with time. 

The big question is as to what are the key technologies in future transportation that could be adopted by the industry? Secondly what are the key cultural, social and behavioural aspects that future transportation designers need to keep in mind? 

Are CEO’s thinking?

As per industry estimates, with time there will be a quantum movement for a simpler, faster, convenient and an effective sustainable transportation that we are about to witness. The supporting technologies like artificial intelligence in the era of mobility are bound to infuse changes. The leaders in the transportation industry, will hence, need to be more intuitive. They should be able to sense early and be anticipatory in responding newer technologies, opportunities, social changes meeting the needs of the citizens. They should be more open to harness data, technology and human capabilities in tackling new and long-standing challenges posited in this transportation sector.   

The need to congregate

It is high time to bring together industry experts, leading academicians, scientists and researchers to exchange their experiences in all aspects of future transportation.  It will provide an interdisciplinary platform for policy makers, top managers, researchers, practitioners and educators for discussing the recent innovations, trends, concerns, challenges encountered, and solutions adopted in this field. 

New prospects and challenge

Presently, transportation industry is on a significant rise. Most probable reasons for this growth are continuous research and development and inception of new start-ups in the area. In 2015, as a part of Paris Agreement, often referred as ‘Paris Accord’ signed an agreement by 196 parties of United Nation Framework Convention on Climate Change (UNFCCC) for promoting clean fuel. In order to achieve the goal, parties decided to reduce the carbon dioxide (CO2) emissions by 50 percent by 2030 and zero emissions by 2050 in wake of global warming. The continuous rise in temperature and melting of polar-caps lead to change from traditional fuel (petrol, diesel) to electronic vehicles (EVs). With the increase in demand of EVs, there is a significant fall in the price of Lithium-Ion batteries and has opened newer opportunities for start-ups. Some of the prominent players in this segment are Tesla, Jaguar, Morris Garrage etc. Innovation and newness are the most necessary facets of any industry e.g. artificial intelligence (AI) has facilitated in many sectors. This technology is been utilized in the vehicles called ‘self- automation vehicles’ (SAV), which is a striking move in the transportation sector. The major barrier in this technology is its unsuitability for all kind of roads. This hindrance is likely to be overcome by technologists in the coming years.

Covid-19 pandemic was a curse to the human civilization, but also proved to be a blessing for the new age start-ups. Drones were used in tough times for delivering essential items. They were used during medical emergencies like cardiac arrest, asthma and were termed as life-saving invention. In times to come, they shall be used to carry light weight articles or products. This is how the drone technology has disrupted the industry. 

Hyperloop, is another revolutionary mode of transport that can travel up to 700 mph. It uses properties of vacuum in a tube to travel from point A to point B. This modern mode of transport helps in saving the time of the traveler. This technology is gaining prominence in developed countries, though under test but has a promising future. Another recent trend is the flying taxis. They are considered as a future in the field of transportation, as seen in sci-fi movies. It is like a dream into reality. Factors that will determine the growth of flying taxis are safety, time-saving, technology advancement. If they are priced effectively, they can reform the entire transport industry.

Transportation- resilient to change

Modern technology has utilized the tools to pave future adaptable changes i.e. societal, environmental and economically beneficial. Advancement in research has led the new era of transformation in technology. Innovations as AI based SAVs, delivery drones, hyperloop and flying taxis are major contributors in recent trend. Being, a part of current decade, there has been an evolution in the phase of technology laying the foundation of upcoming transportation. Would you able to embrace and accept the change? How resilient are you to this change?

Written by Dr. Manoj Joshi.
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Prof. (Dr.) Manoj Joshi
Dr. Manoj Joshi, is co-Author of "The VUCA Company”, “The VUCA Learner” and "VUCA in Start-ups". He is a Chartered Engineer and currently a Professor of Strategy & Entrepreneurship and Director, Centre for VUCA Studies, Amity University. He is the Regional Editor India, JFBM; IJSBA and an editorial board member for journals like APJM, JSBM, BSE, JEEE, WRMSED etc. His consulting includes VUCA strategy, travelled extensively with over 30 years of experience in areas of Screw pumps Design, Heat Exchangers, Loading Arms, consulting, research and teaching. He has a deep interest in dark matter, dark energy, astral travel, travelling to woods and life after death.

Dr. Manoj Joshi is an opinion columnist for the CEOWORLD magazine. You can follow him on LinkedIn.