The Leader Magazine

SEP 2018

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F E A T U R E A R T I C L E 38 September 2018 the leader R apid urbanization – combined with increasing demand for goods and people to be moved in mass and at speed – means that mobility matters more than ever. Logistics companies, mobility platforms, and vehicle original equipment manufacturers (OEMs) are competing to lead the way, and have invested some $80 billion globally in connected autonomous vehicles (CAVs). However, the fast pace of change and the wide range of trends driving investment in AV technology means identifying some short-term priorities to ensure the sector can meet the changing expectations of occupiers, developers, landlords, and regulators. d efining autonomous vehicles AV technology, while developing rapidly, is still largely in the prototype or testing stage. This is particularly true for those technologies required for vehicles to be truly "driverless." Unexpected benefits or disadvantages are likely, some of which may not be realized until AVs reach high market penetration. AVs are not necessarily "driverless," as some vehicles might self-navigate only in certain environments or under certain circumstances, and might still occasionally require human drivers. Nevertheless, the case for increasing the amount of driving tasks that can be automated is based on potential to minimize human error, which is responsible for more than 90 percent of vehicle crashes. Figure 1 summarizes the Society of Automobile Engineers (SAE) international standard definition of automation levels. Each level refers to the degree to which driving tasks can be automated, and in which environments. The impact that AVs will have on CRE depends not just on advances in levels of automation, but the operating models of vehicles. For example, non- connected AVs might have less of an impact on car ownership that CAVs, as the latter supports ridesharing and the deployment of self-driving fleets. r ethinking distance When it comes to real estate and property valuation, location is key. Whether it is proximity to natural by Kat Hanna and James Maddock fi GU re 1: s ociety of a utomobile e ngineers automation-level standards l evel d escription e xamples and s cenarios 0) No automation Human driver required for all tasks; must monitor road at all times. Majority of existing cars. 1) Driver assistance Computer assistance for either steering or speed control. Human work Jaguar off-road cruise control. and monitoring essential. 2) Partial automation Steering and speed controlled by advanced driver assistance system (ADAS) Tesla Autopilot or Mercedes Distronic Plus; in defined-use cases. Human monitoring essential at all times. includes adaptive cruise control, lane-keeping assistance and automatic emergency breaking. 3) Conditional automation Automated Driving Systems with vehicle monitoring environment to make Tesla Autopilot; including remote parking function. decisions. Human control available to intervene in, for example, adverse Volvo aiming for full autonomy by 2021 using autopilot weather conditions. option on premium vehicles. 4) High automation All safety-critical driving functions are automated within Ford aims to deliver fleets of geofenced, Level 4 AVs for Operation Design Domain (ODD). Technology applicable to driverless commercial ridesharing by 2021. Toyota expects Level 4 shuttles operating in private or managed environments such as worksites. vehicles to operate within specific areas in next decade. 5) Full Automation Vehicle requires no driver, either for tasks or monitoring environment Bosch and Daimler aiming for Level 4 and 5 by 2020. or in any domain. Autonomous vehicles: navigating the

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