One week from tomorrow, Elon Musk and Tesla will hold its “We, Robot” event

It’s expected that the company will reveal its first dedicated robotaxi. This is being heralded as a “game changer” for the future of autonomous transportation.

“We, Robot” is expected to be a watershed moment for Tesla wherein the company introduces its first dedicated robotaxi, tentatively called the “Cybercab.” Tesla is also expected to showcase groundbreaking advancements in Full Self-Driving (FSD) software and artificial intelligence as the company pushes toward a future where human drivers are obsolete.

At the heart of this transportation revolution is a convenient, driverless ride at a fraction of the cost of traditional services. If it’s everything it’s cracked up to be, this will send ripples throughout the automotive, technology, and investment sectors.

Consider what a rollout of Tesla’s robotaxi would mean… With the tap of a button, you can have a car at your disposal, 24/7, at a much lower all-in cost than owning a car (or purportedly, calling an Uber).

Today, car ownership can be a major financial burden. AAA reports that last year, the average annual cost to own and operate a car in the U.S. was about $10,000. A fully autonomous, reliable, ever-present robotaxi would enable consumers to save thousands of dollars by eliminating the need for car ownership.

Yes, there will be plenty of Americans who will still want their own. But if you’re one of the 66.2% of Americans living paycheck-to-paycheck today (according to MarketWatch in August), are you not going to seriously consider letting go of your car to free up thousands of dollars per year?

According to a 2022 study by McKinsey & Co., 25% to 30% of urban dwellers would consider using shared autonomous vehicles as their main transportation mode if it were widely available. And if 25% to 30% of Americans decide to stop buying cars, get ready for a financial earthquake.

First and obviously, we have the major car manufacturers that would be rocked by this size of a reduction in auto demand. We’re talking unprecedented disruption that would require a business-model pivot, and potentially, enormous layoffs.

Cars are parked 95% of the time. If you’re merely “renting” your car, when you’re done with it, it speeds away to service someone else. Such collective ownership of cars will radically explode car efficiency, reducing how many are needed, which would impact how many workers are required. Also, you do not need a garage at home or at work.

Now, consider the knock-on effects… With 25% to 30% fewer drivers (at the beginning – expect this percentage to grow), what happens to the auto insurance industry? According to Benzinga, U.S. auto insurance premiums amount to more than $308 billion per year. So, what happens with far fewer car owners? Do we lose loads of related insurance jobs? Or does the insurance model switch from vehicle coverage to some sort of ride-based individual coverage? What would be the impact on business models?

Next, what about car mechanics and chain repair shops?

What happens when autonomous driving hits our trucking industry? In the U.S., that’s a $216 billion market with roughly 3.5 million drivers. Think “robotrucks” might be disruptive there?

Now, consider the investment implications, good and bad… What will be the impact of all this on the share prices of not just Tesla, but Ford… Alphabet (which owns Waymo, another autonomous driving company)… Uber… Insurance companies… Auto parts manufacturers, and retailers, the list goes on and on… And what about the stocks of the companies that make the components for Tesla’s fleet or robotaxis? All the sensors and semiconductor chips? The plastics? The electronic circuitry?

It is all about technology replacing the need for humans. In 2013, Amazon used about 1,000 robots in its warehouses. Last year, that number clocked in at 750,000 and the savings have been incredible. The warehouses work 24 hours a day non-stop and seven days a week.

Think about the coming impact of AI and automation on, well, everything… It’s already affecting jobs for customer service agents… paralegals and legal assistants… accountants… medical diagnosticians… radiologists… financial analysts… journalists… recruiters… insurance underwriters… and marketing specialists… to name a few. Should we expect it to stop?

It will lead to a chaotic workplace as shown by the International Longshoremen’s Association strike that began yesterday, with dockworkers demanding assurances that the United States Maritime Alliance will never replace human workers with automation? As well, the Screen Actors Guild/Writers Guild of America strikes in 2023, wherein Hollywood workers demanded protection from the rising capabilities of artificial intelligence. Unions will not stop the use of AI and robots and lawlessness and chaos will erupt across cities.

In Matthew 24:12, Jesus told his disciples what will unfold in the end times before He returns to Earth. He says, “And because lawlessness will be increased, the love of many will grow cold”. Christians know what is coming and we need to use Biblical end-times prophecies to evangelize the lost. As these end times prophecies are fulfilled, people will realise God is real and the Bible is God’s word.