The world of taxiing has been undergoing massive changes. Traditional business models around the world have faced significant challenges with the advent of the smartphone.
Controversial companies such as Uber and Hailo have stolen a march on their rivals, and now with a couple of taps on an iPhone screen a taxi can be at your door in minutes.
Both businesses have been establishing themselves as big players in the Irish taxi market. Worldwide, Uber is now valued at near $50bn, with their European operation alone valued at €10bn.
Forecasts predict that this could grow to a staggering €250bn in the next decade.
With Uber announcing a further 300 jobs for Limerick this week earlier this week and further expansion planned, Bobby was joined on this week's Down to Business by the General Manager of Uber Ireland Kieran Harte.
"It's fantastic news," Kieran said about his new job announcements and centre in Limerick. "It's what we call a Centre of Excellence, which is a community service hub. Importantly it's the first one we've had outside the US. We were thrilled to be able to bring it to Ireland and Limerick."
Uber more generally has run into legal and regulatory issues around the world, including services being banned in some cities. In Ireland, the 'Uber Pop' service is facing a particular challenge.
Kieran explained, "there's certainly some regulation about not driving for hire or reward. It probably needs a bit of clarification in terms of what that means for ride sharing. That's the term we use for the models that are not licensed taxis or licensed private vehicles.
"One of the challenges for us as a company is we're spreading extremely quickly across the world. We enter markets where regulations are a little bit of a patchwork... written before the advent of mobile phones, let alone smartphones," he added.
In terms of their plan for the Irish market, he explained they're only operating in Dublin at the moment. However he says, "we see Uber as an opportunity to offer something to the travel space that isn't here yet." He also discussed the potential for moving 'things' as well as people as the company continues to grow and develop.
