We conducted extensive research to assess how Artificial Intelligence, Big Data Analytics, Blockchain and Electrification are transforming the transport sector. We examined the views of 250 CEOs, CTOs and CLOs from Europe, the Middle East and North Africa, Asia Pacific and North America, incorporating perspectives from industry leaders and innovators, as well as legal perspectives from our own experts in Italy, Germany, UK and UAE.
Blockchain has been hailed as the most disruptive technology in the transport sector since the introduction of the standard shipping container in the 1960s. Today, we cannot imagine shipping without containers. We believe that in the years ahead, the world will look back to the advent of blockchain technology in the same way.
68% of surveyed respondents in our latest report believe that AI and its benefits for commercial transport are overhyped. Add to that the industry's concerns relating to data security, job losses, ethical use, personal privacy rights and potential liabilities arising out of the use of AI, and the conclusion must be that the adoption of AI in the transport industry is no slam dunk.
It is the beginning of the end for the internal combustion engine as legislators across the globe clamp down on the sale of fossil fueled vehicles and electric vehicles present themselves as a viable alternative. Provided the right legal and commercial conditions exist, there is the opportunity for a real power shift in the world of commercial transport.