The safety of driverless cars, cutting edge designs, and disruption to the way we travel – unprecedented advances in technology are taking the Automotive industry to new, exciting and sometimes controversial heights. What are the most important factors set to shape the Automotive industry over the next five years?
Driverless cars are fast becoming a reality, for both passenger and delivery vehicles alike. Automotive Artificial Intelligence is empowering the development of smarter cars faster than ever before, by mining data and analysing patterns to imitate human behaviour. The cognitive systems of autonomous vehicles are designed to mirror the way a human would think and operate in a real-life situation. Insights will be drawn from a large variety of unstructured data to empower autonomous vehicles to respond naturally in real time.
Cognitive capabilities will utilise dynamic operating conditions and cars will soon be able to communicate with each other using AI Automotive technology. With a few more steps of innovation, driverless cars can soon perform as smoothly, safely and effectively as if humans were behind the wheel, and perhaps even more so (see number three on this list of AI Trends in the Automotive Industry).
In 2016 the global Automotive Artificial Intelligence Market was valued at over $60billion, and with a predicted growth rate of 39% is anticipated to reach up to $10.8 billion by 2025. Soaring demand for smart vehicles and the responding AI and LiDAR investment from Automotive manufacturers have already begun to drive growth across the Automotive industry as a whole.
Although the Asia-Pac market will see the highest levels of Automotive Artificial Intelligence growth, the European Automotive industry can also expect increased growth driven by automation and technology, despite the uncertainty of Brexit. The UK Automotive industry accounts for 12% of total UK export of goods, and industry performance in 2017 was the highest for four years, with steadily increasing demand enabling UK manufacturers to supply overseas customers long after Britain leaves the European Union.
Next on the list of AI Trends in the Automotive Industry is fast growing consumer power. With the rise of electric and autonomous vehicles and increased customer demand in a fast-paced world, vehicle manufacturers are starting to prioritise user experience in the design process. Climbing consumer purchasing power will fuel opportunities in the premium car market and even more cost-effective vehicles can offer speech and gesture recognition, driving monitoring, eye tracking and global language recognition.
Consumer-driven markets will heat up competition between Automotive manufacturers around the world, raising the bar and setting new standards for Automotive technology across the board.
Just how safe are autonomous cars? Despite a high volume of coverage of the recent fatality involving an automated car in North America, Automotive AI is predicted to make autonomous technology far safer than human driving. Global semiconductor manufacturing business Intel Corporation believe that between 2035 and 2045, semi-autonomous and autonomous vehicles will save more than half a million lives.
The recent release of Tesla's new electric vehicles, the first battery-powered cars, saw Elon Musk’s new designs breaking three racing world records. As seen with the Porsche Mission E, many Motorsport manufacturers are moving away from performance engineering and towards electric vehicles manufacturing.
Rapidly advancing innovations in electric vehicles will require different skill sets from Motorsport technicians and could attract previously untapped talent pools – acting as a welcome solution to the current engineering skills shortage sweeping the Automotive industry.
Manufacturing efficiencies are top of the list of important AI Trends in the Automotive Industry. Recent Automotive research from McKinsey reveals that AI will decrease automotive manufacturing downtime by using sensors and algorithms to constantly monitor equipment. The report explains:
‘AI-based algorithms can digest masses of data from vibration sensors and other sources, detect anomalies, separate errors from background noise, diagnose the problem, and predict if a breakdown is likely or imminent.’
Environmental performance will also skyrocket in popularity in order to meet industry regulations. Automotive AI will power the lower carbon-emitting fuels required to comply with energy, security and climate protection targets and enable both the growth of the global Automotive industry and sustainable development.
Discover how AI will affect the Motorsport industry – Read the Top 5 Motorsport Trends of 2018. Or read about how the law will have to change to accommodate autonomous vehicles.