10May, 2020
The Future of AI

The Future is what YOU AI Creates for Us.

Every day, almost every single human is dependent on Automotive Industry for various transportation purposes; it is no concealed fact that we cannot imagine living without them. But with the changing trends and developments in the technology, Automotive Industry has no exception in lagging back.

According to Gminsights,

Artificial Intelligence (AI) in Automotive Market size exceeded USD 1 billion in 2019 and is estimated to grow at over 35% CAGR between 2020 and 2026.

A few years back when AI paved its way through different sectors of the market, no one predicted that AI would be an integral part of the Automobile Industry. Today as we can see AI is in motion from the supply chain to after sale services of the Automotive Industry.

How did this happen? Even If it did, where does this lead us?

A research study conducted by Ijirset stated that, Tens of millions of people have lost their lives or have become disabled worldwide in the last 10 years because of vehicle accidents. Almost all the traffic accidents are caused by human mistakes.

Many companies in the Automobile Industry knew that such incidents could be taken as an advantage by taking proper measures and improvements by adapting to the technology and providing best services to the customers.

Now let us discover where AI leads us in Automotive Industry:

  • Drive: Driver or Co-pilot? Before companies let AI take the driving seat, companies are making sure, AI does the job of an assistant. They are building AI powered sensors to detect dangers, turns, brakes, and traffics and inform the driver to take up safety measures.

  • Cloud: Cloud services are known for storing data in big IT firms but how does it help in driving? AI cloud services stores the data like when was the last time you had car service, low battery indicators, car services alert, insurance, etc. This helps the car owner to keep track of everything in a click instead of manually recording it.

  • Insurance: Let us agree on one thing- Making Insurance to claiming it, is an exhaustive and tiresome process. Worry not anymore, AI will take care of everything after the accident and the results will be delivered at your mobile in no time.

  • Manufacturing: From moving to placing the equipment or sorting things in the supply chain system, AI is taking over the human job completely. This leads to indisputable work progress in the supply chain, which is eventually being in favour of both the company and the customer.

Today we are witnessing the development of AI at an ultimate level which handed down well can be doing the work easy for everyone; the same goes for Automotive Industry. And it is a win-win game for the customers and the company.

Tesla is one such company that has been making tremendous development in the Industry with AI and Machine Learning. From the co-pilot to the main seat, Tesla is not leaving any nots loose, all we can do now is, have a seatback see what AI has in store for us.

Reference :