“We know that more than 700 laws need to be changed to get CAVs on the road, but that doesn’t take into account the changes that need to be made to planning regulations, and laws relating to privacy, insurance and product liability,” said HSF partner Nicholas Carney.

“Governments and businesses in Australia need to move faster if they are to be prepared for CAVs.”

Speaking to Lawyers Weekly, Mr Carney noted that there remained mixed views on the role of government and policy in promoting the adoption of CAV technology.

“It is important that we are not left waiting for regulation to catch up once the CAV technology is ready for wide-scale commercial adoption and some say that government should step aside and allow the private sector to push aside,” he explained.

“On the other hand, there is likely to be a place for regulation in terms of safety, use of and access to data, and ensuring national and international standards where appropriate.”

It also remains to be seen how the tension between public benefit of technology and changes in consumer behaviour will play out, as there could be a role for policy to promote the adoption of CAVs in the public interest if consumers are slow to shift behaviours, he said.

“There is also genuine opportunity for Australia to be at the forefront of technology and infrastructure with support and government funding.”

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But what is abundantly clear, he argued, is a strong need for a wide range of industries to come together collaboratively to navigate the best way forward.

“We see opportunities in the areas of regulation, policy, M&A, data and privacy, cybersecurity, insurance, product liability and infrastructure,” he said.

Industry experts all agree, he proclaimed, that there will be significant safety and economic benefits associated with broad adoption of driverless cars — so long as the law in Australia can catch up to it.

“Long-term delay in shifting to the new technology would result, at the very least, in significant opportunity costs and unnecessary personal injury and associated economic costs to society,” he said.

HSF senior associate Susannah Wilkinson said CAVs will bring more than simple convenience to people’s lifestyles.

“CAVs will force a shift to electric cars away from fossil fuels, the redesign of urban spaces and the opportunity for innovative business models and services and more,” she said.

“This is a great opportunity for thought leadership on what needs to be done to put Australia in a position to handle and take advantage of these changes.”