Brett Murray, Executive Director & Head of Strategic Design Innovation, JPMorgan Chase

Brett Murray is a Silicon Valley veteran with over 25 years of experience at Apple, Nokia and some other tech companies. He is a tech person, not a banker. Although he leads strategic design innovation at the biggest bank in US, JPMorgan Chase.

That means banks are very interested what is going to happen in autonomous era and of course how will that influence their business? Here are some questions, that still have no precise answers. Murray’s and his team job is to find them eventually.

  • Is the end of private car ownership coming?
  • Will every car become the same?
  • What does innovation look like with “fleet” cars?
  • What are the business models in a fully autonomous future?
  • Can transportation become free to all?
  • How does this affect our existing transportation networks?

And there are also few questions, Murray’s team already has the answers for. It could be. Through advertising and add services. There is another benefit. Ease of transport and cheap energy facilitate economy growth.

“Can transportation
become free to all?“

“Does this lead to shifts in property valuations?”

With better transport, property values in the city center could go down and rise in the suburbs. This is important for banks that are financing real estates.

“Will this play out differently in different geographies?“

In Europe the internet connection is better than in US. And since US has bad public transport, autonomous cars will play very important role in the future and cities designed around cars will have advantages in autonomous era. For instance, typical example are Sacramento and San Diego that really bloomed when mobilized by cars.

»What are the dark sides of all this change and how do we plan for them…?«
Many people will lose jobs – only in US 13 million people earn money as drivers. Will they find new jobs, maybe, eventually? We as a bank have to know that.