Over the last century, the automobile industry has witnessed various incredible technological advances. By integration these technological advancements, automakers are making vehicles safer, user-friendly and have presented numerous features that improve their usefulness and value for automobile owners. As a result, modern vehicles are now capable of much more than merely getting you from one place to another. Without further ado, let us get to understand how modern technologies are changing the automotive industry.
You might have heard of terms like ‘autonomous vehicles’ or ‘self-driving cars’ over the past few years. Well, artificial intelligence (AI) is the technology responsible for this matter. The automotive industry has already started incorporating AI technology to develop next-gen vehicles. Besides AI, other technologies such as machine learning, deep learning, and computer vision are used by automakers.
Through these technologies, people can manage fleets, guide self-driving, and improve the safety of the driver as well as persons in the street. There are applications in automotive manufacturing where AI is used to accelerate production as well as aids in reducing costs.
2.Big Data & Data Analytics
There is a vast amount of data available to process today, which is beyond our scope of imagination. This is where data analytics and big data come into the picture. They play a crucial role in the transformation of the automobile industry that is coming.
The data collected from vehicles enables predictive maintenance, alerts authorities in the event of an accident, and informs managers about their fleets. Furthermore, customer automotive data can be used to boost sales, improve supply chains, and improve product design for newer automobiles.
The increased competition and demand for personalization have put a lot of pressure on automakers. Blockchain technology can help automakers tackle numerous problems. This powerful technology can transform processes and services such as share vehicle data over a secure network for connectivity. Also, it can provide shared mobility solutions like ride-hailing, urban transportation, deliveries, etc.
Furthermore, smart contracts might also be integrated into manufacturing blockchains to release purchase orders at specific manufacturing process stages automatically. Contracts may be automatically allocated to the provider with the most inventory on hand, which would improve supply chains.
Automakers and tier manufacturers can use additive manufacturing to successfully produce new components with complicated designs and structures, resulting in weight reduction and increased operating component efficiency. Automakers will be able to do on-site fabrication to aid in the maintenance and repair of automotive components, as well as create new business models by inventing and adapting the supply chain and goods for better market reactions, thanks to this technology.
5.Internet of Things
In the automotive industry, the advent of the Internet of Things (IoT) has opened new ways for carmakers and buyers worldwide. By implementing IoT, two vehicles can communicate with each other securely. This technology also improves road safety, solves traffic congestion, and reduces pollution and energy expenditure with better fleet management. Various startups and emerging companies are developing advanced sensing technologies to collect more data about the vehicle and at the same time allow the vehicle to understand its surroundings.
Any human-machine interface solution aims to keep the driver’s focus on the road, eliminate distractions, improve vehicle safety and comfort, ease of use, and provide customization possibilities. This interface makes the driving experience safer and more enjoyable. To operate automobiles, human-machine interfaces (HMI) use voice-based or haptic input. Also, smart virtual assistants are another type of HMI that aids drivers and riders in interacting with automobiles and other service providers.
As automobiles become more advanced, several technological advancements will be required to make driving easier for drivers. Automakers must be flexible and adaptive to their customers’ evolving demands and preferences in order to flourish in the future. In the future, companies that leverage emerging technological advancements in the automobile industry will be among the best.