Artificial intelligence (AI) and machine learning are developing fast and impacting our lives and economic activity in many ways. We consider automotive industry impacts.Let us read about AI in automotive industry
AI has emerged as the potent transformation driver of all industries in this contemporary technology-driven world, especially the automotive industry. It now influences how automotive companies manufacture, choose and drive vehicles. As per experts, the AI-infused global market would expectedly witness a compound annual growth rate (CAGR) of 39.4% during the predicted period from 2022 to 2030|$ 20.76 billion.
Usage of AI in the pandemic-driven era
The onset of the global pandemic has disrupted every form of business in the industry. As a result, automotive companies have developed innovative AI-driven solutions to address such issues and regard Artificial Intelligence (AI) as the mainstream technology. These car manufacturers have been introducing new functions in their range of cars for new user needs as they are on the brink of tremendous upheaval. MG Motor is one visionary automaker working on this by launching the exclusive MG Astor, India’s first SUV with AI inside.
With personal AI assistant and ADAS (LEVEL 2) technology, MG Astor has been distinguishably designed to connect people with the car. The SUV is well-equipped with AI technology, six radars, and five cameras to manage 14 advanced Autonomous Level 2 features. The company has even partnered with BOSCH for ADAS (Advanced driver-assistance systems) and incorporated over 80+ connected car features in Astor.
Besides MG Motor, other manufacturers have hopped on the wagon to roll out tech-driven cars for their customers. Fortunately, the integration of cutting-edge technologies like Artificial Intelligence and Data Science has helped such automakers and benefited software providers, automotive-related enterprises, component suppliers, etc., to excel in the pandemic-infused era.
Adoption of AI in the automotive value chain
AI is being effectively implemented in the automotive value chain, including manufacturing, design, supply chain, production, post-production, ‘driver assistance’ and ‘driver risk assessment’ systems. On top of that, AI has been proactively transforming aftermarket services like predictive maintenance and insurance. Here’s how the contemporary visionary automakers ensure the proper usage of this technology.
Manufacturing of the Car
Visionary automakers leverage proper usage of data to deliver phenomenal products and services. Artificial Intelligence extensively helps product designers and product development teams to tailor-make all future car models that match consumers’ expectations. AI-powered robots continually learn
automotive manufacturing skills like part manufacturing & designs and simultaneously work with humans to assist them in producing automobiles. Moreover, carmakers add and subtract innovative features in car models based on consumers’ preferences. This way, automotive companies utilize resources more efficiently with the aid of artificial intelligence and machine learning.
Developing engaging and personalised user experiences
AI plays a crucial role in driver assistance technology, widely used in modern vehicles. It effectively monitors a driver’s eye- if the driver is tired or fallen asleep. The AI implemented in the car learns everything about the driver’s preferred temperature setting, favourite playlists, and navigates the destination to make the travelling experience more enjoyable, intuitive, and less taxing. In line with developing engaging and personalised user experiences, automotive companies partner with software businesses to ensure that AI turns the inside environment immensely optimal for the driver.
Making the car buying and selling journey seamless for consumers
While the usage of AI is not limited to only car manufacturing and delivering enhanced user experiences, it also makes the buying and selling process of cars exceedingly seamless for consumers. In the future, AI-enabled customer interface systems can even recommend the best cars based on the consumers’ driving skills, insurance, health data, penalties received, etc. Next-generation cars can also receive real-time updates on road congestion or any other emergency and harness the power of AI to create high-resolution 3D visuals of actual roads.
AI Trends to watch out in 2022
While AI in automotive industry has significantly disrupted the automotive sector in the last few years, listed below are some expected AI trends in 2022.
AI implementation through ROI
The automotive industry would more likely encourage partnerships between businesses and IT teams. It might help organizations ensure automated maintenance and receive the possible business results of AI deployments beforehand.
The prominence of the ‘CaaP’ business model
Also known as the ‘Car As a Platform’ business model, ‘CaaP’ can effectively help carmakers deliver tailor-made solutions with a subscription-based service model. This model ensures affordability and scalability, thereby reducing the overall capital investments by organizations. The industry may see several cameras & other devices getting centrally monitored and networks & system procedures getting automated in 2022.
In 2022, hyper-automation will surely stay as the driving force behind phenomenal digital transformation. It will be streamlined to enhance the efficiency, productivity, and accuracy of the automotive sector. Usage of manual monitoring and video analytics shall be automated entirely to significantly decrease cost-savings, determine staff productivity and check whether pandemic compliances are being strictly controlled and followed.
Implementing AI-driven technologies would undoubtedly add unparalleled value to cars as time passes by. This technology will maximize production capacity, boost productivity, and gather unique data to deliver ever-innovative driving experiences. Moreover, AI in automotive industry would continually transform the automotive sector, creating new opportunities and ensuring a greater return on investment.