In this digital age, technology plays a major role in every industry. However, new developments often come with new risks businesses must understand.
There are a few fronts where liability could increase. Here are three in particular businesses should know.
1. Product liability cases could increase
Automation is a major aspect of smart technology. Travel industries are looking to incorporate more automation as well. Autopilot technology already plays a significant role in aviation, but the levels of automation could increase. In the future, there might come a point where an onboard pilot is not necessary.
This might sound convenient for travelers and airlines alike. However, this could increase the risk of product liability lawsuits as well. Tesla’s technology serves as an example – and a warning. The motor vehicle manufacturer now faces several lawsuits claiming their self-driving technology caused accidents leading to injury and death.
As automation increases, airlines must be aware of this risk.
2. Securing IP will be even more critical
New technology in the industry means new intellectual property, including:
- Strategies and technology to reduce carbon emissions
- Introducing electric motors and power
- Increasing automation
Wherever there is innovation, there is a risk. Businesses must increase their measures to protect their intellectual property as they continue to advance in the industry.
3. Data security is a priority as well
The use of biometrics is increasing in a wide range of industries, and it is making a mark on the aviation industry as well. Delta Air Lines, United Airlines and even individual airports have started trials using biometrics.
Biometrics generally increases security measures within a company. It is also convenient for customers. However, it requires even more focus on data security itself. There are many businesses facing lawsuits from both employees and customers over data leaks.
There is time to prepare
Many of these technologies are not yet common. However, it is critical to stay on top of these advancements to remain a competitor.
It is even more important to prepare for these advancements. Businesses should take steps to understand the risks. Then they can better prepare to succeed and protect the future of their business.