The use of AI-based tech within vehicles is steadily growing.
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AI has recently been used to imagine the safest car of the future, which boasts impressive features such as a smart driving companion and propulsion management.
A vehicle concept has been created by car insurance comparison site, Insurify, who asked chatbot GPT-4 to design a vehicle which incorporates advanced safety features and utilises research on future manufacturing and safety innovation.
Alongside the design of the vehicle, the company has also made predictions on when it comes to insuring vehicles such as this one. Predictions state that at first we can expect autonomous safety features to cost more. As these features become more common, unit costs will likely fall.
We spoke to Cassie Sheets, data journalist from Insurify, to learn more about these new safety features, and how vehicles such as this could impact insurance in the future.
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By GlobalDataJust Auto (JA): Could you provide some company background?
Cassie Sheets (CS): Insurify, a top-rated virtual insurance agent, provides expert advice and empowers customers to securely compare, buy, and manage their auto and home insurance policies from the largest selection of accurate quotes. Insurify data comes from more than 90 million quotes served and $200B in insurance coverage.
How did you use AI to create this concept vehicle?
We asked GPT-4 to conceptualise a vehicle that incorporates advanced safety features and utilises research on future manufacturing and safety innovation.
We then input all the safety features GPT-4 identified into DALL-E, which conceptualised the vehicle. To ensure the designs are feasible, we conducted thorough research into current trends and speculative technological advancements.
What are the key safety features – the design features? [These are the features Insurify sees as being the most transformative to safety]
The VR drivers’ education, smart driving companion, and mindful co-pilot features have the greatest potential to transform safety by improving the most unreliable factor — the driver. VR drivers ed, with an AI-powered smart driving companion and mindful co-pilot, helps drivers practice emergency manoeuvres, and improve safety through real-time coaching and monitoring.
These features could reduce the risk of accidents, which would mean fewer claims for insurers and less expensive premiums.
These features could reduce the risk of accidents, which would mean fewer claims for insurers and less expensive premiums.
How would a design such as this impact insurance costs and policy?
If AI-assisted driving becomes a standard feature, we could expect to see overall accident rates dramatically decrease. Accidents are costly for insurers, from repairing or replacing vehicles to covering medical costs. Fewer collisions could reduce insurance costs. Insurance companies would need to gather data to prove the added value of safety features and incorporate that information into their rate setting.
That said, high-tech vehicles can be more expensive to repair or replace, and a minor collision in the car of the future could mean replacing sensors that cost thousands of dollars.
Those higher repair and replacement costs would mean more expensive claims for insurers and possibly more expensive premiums for drivers. Tesla vehicles are a prime example of this.
The technology in Tesla vehicles increases insurance rates since there is a lack of evidence of additional risk mitigation. The average Tesla costs 33% more to insure compared to other cars on the market, according to Insurify’s data.
What do you see the future holding for autonomous car safety features?
Before we see fully autonomous cars, we’ll likely start to see more complex partially autonomous driver assistance features. You can find lane-keeping assistance, hands-free steering, and adaptive cruise control in modern cars, but burgeoning AI technology could increase the accuracy of these safety features.
If we reach a point where fully autonomous vehicles are available to the public, it will raise difficult insurance liability questions about whether cars or drivers are responsible for accidents.
