January '20

Issue link:

Contents of this Issue


Page 17 of 71

14 THE SHOP JANUARY 2020 THE ROAD AHEAD Despite the uncertainty that characterizes many areas of the economy, a healthy labor market and high consumer confidence have done a good job of propping up a deceler- ating business environment. Will they continue to do so? And when will the inevitable recession arrive? That last question is particularly impor- tant, as two-thirds of the nation's chief finan- cial officers expect the United States to tip into an economic downturn by the third quarter of 2020, according to a Duke Uni- versity/CFO Global Business Outlook survey. In the early months of the new year, economists suggest monitoring financial news for indicators of a recession, often defined as two consecutive quarters of negative economic growth. Increasing stock volatility is one such indicator, as is an inversion in the Treasury yield curve when short-term rates are higher than long- term ones. But perhaps the most important indi- cator of pending trouble is a downturn in the employment picture. "The job market is key," says Koropeckyj. "If businesses begin to lay off workers, that will be fodder for a recession. Watch for changes in monthly employment growth and in weekly claims for unemployment insurance benefits." Rising unemployment, says Koropeckyj, will result in a decline in the very con- sumer spending that has been the driving gear of a healthy economic machine for retailers. "Once unemployment starts rising, we are either already in a recession or will be in one very soon." New York City-based journalist PHILLIP M. PERRY publishes widely in the fields of business management and law. Retail Forecast 2020 has launched a new blog post that pres- ents the main automotive technologies that are currently being tested and will soon be available to the general public. Numerous research projects are currently under development in labo- ratories and at test tracks all over the world. Researchers are looking for new technologies that will improve safety and prevent car theft, according to the report. The most important technological advancements include: Fully autonomous vehicles. Industry giants are already developing driverless cars, hoping AI will lower and eventually eliminate the risk of accidents. When self-driving cars replace the human driver, radical changes will happen. From changing laws to changing life- styles, the self-driving car is the most significant innovation to affect the auto market and insurance industry. Driver override systems. Already hitting the market, with autonomous emergency braking, the car's AI decides when to stop the vehicle. As soon as the sensors detect a possible collision, the car applies the brakes, no matter how hard the driver tries to accelerate. Augmented reality windshields & dashboards. In the future, windshields and dashboards will be capable of dis- playing different data about the car and local area. Collision warnings and lane departure alerts will be directly displayed on the windshield. Health monitoring assistance. Future seatbelts and steering wheels will come fitted with health sensors. Cars will wirelessly pair with these devices in order to monitor the driver's health. In case of a heart attack, the vehicle will be able to pull over and call an ambulance. Biometrics-accessed cars. In order to increase vehicle security, biometric access keys are being developed. The car owner will unlock and start the car using only his fingerprint, retinal scan or face recognition. All of these technologies already exist in order to unlock our smartphones and some car models already use them. is an online provider of life, home, health, and auto insurance quotes. Read the blog post here: https://compare-auto- be-soon-implemented-in-cars/ Automotive Technology Trends Technological advancements will continue to drive the development of new vehicles.

Articles in this issue

Links on this page

view archives of THE SHOP - January '20