The evolution of autonomous vehicles (AVs) is a major innovation that will have a profound impact on the economy, contributing to both the loss of existing jobs and the creation of new ones. With each level of innovation and adoption of these vehicles, there will be an increased loss of jobs within the economy across many different connected segments. Although this loss will be gradual over the next several decades, the estimated number of jobs that could be lost is substantial. The jobs created related to autonomous vehicles during this period of time are unlikely to outnumber those lost, and will require entirely different skill sets. Education will undoubtedly be affected with this shift in the economy; however, analysis of the predicted job loss reveals that most jobs lost due to the increase of autonomous vehicles have minimal education requirements, and the development of AVs is projected to create a number of jobs that require a bachelor’s degree or higher.

Snapshot of Key Findings

• By 2030, an estimated 15% of all car sales will be self-driving vehicles.
• The adoption of AVs may cause the loss of more than four and half million jobs and $168 billion dollars in annual wages. While some industries will be directly impacted, AV technologies will also create new jobs.
• In addition to the transformation that the transportation sector will experience, other indirect, but connected, industries will also be affected, including insurance, smart signals, location-based or GPS dependent sectors, hospitality and municipalities.
• Higher education institutions have an opportunity to enhance their existing curricula in the areas of specific value to the AV and related industries.