What’s Driving The Automotive Industry Innovation Boom?
Within the past decade, manufacturing has been turned upside-down by exciting innovations, and it appears change driven by emerging technology will continue apace.
Innovation in the automotive sector is particularly vibrant and the global industry is largely considered at the forefront of manufacturing innovation. There are a number of factors currently pushing massive innovation in the automotive industry, some of which are listed below.
4 Industry Drivers
The Internet of Things
The miniaturization of computer technology has allowed for all kinds of items to be connected to the internet, from forklifts to refrigerators. Dubbed the ‘Internet of Things (IoT)’, this growing area of technology will have a considerable influence on the automotive industry in the coming years. Automotive value chain operations will probably be most affected by IoT, which facilitates precise tracking and increased data-gathering possibilities.
IoT is also enabling greater performance tracking abilities, as sensors can be placed in various automotive parts. This produces a virtuous cycle of information that can help enhance current quality, enlighten future product advancements, and enable new services.
For years, the automotive sector has realized the benefits of cloud technology, and this year has seen an even bigger shift to the cloud, partly due to the “Industry 4.0” transition.
The versatility of the cloud supports a growth mindset, which very appealing factor to auto manufacturers. With the cloud, there is the capacity to deploy and cover the cost of data storage capacity on an as-needed basis. Operations and services can also be scaled readily as a result of shifting demand and growth needs. The cloud also lowers waste and cuts costs.
Industry experts have said analytics will increasingly influence automotive manufacturing, as it facilitates more streamlined, agile and smart operations, as well as encourage innovation.
Through the use of predictive analytics, businesses can easily see trends in the auto industry as they grow and therefore grab new opportunities as they show up. Furthermore, analytics operations can lead to insights on product performance, allowing manufacturers develop better products that are safer and lead to greater customer satisfaction.
Automation has been in the automotive industry for years, but as AI grows even more intuitive, the industry will enjoy even more benefits.
The application of enhanced AI in production lines has refined processes, making the manufacturing of automobiles more efficient and cost-effective. AI will also be capable of doing more intricate tasks that call for greater attention to detail, speed and accuracy.
Advanced AI will also be capable of finding inefficiencies within manufacturing systems. Analysis from AI can be used to uncover the root causes of flaws and enhance overall manufacturing operations, leading to safer vehicles.
Quality assurance will be another benefit of more AI technology in the industry. At present, most quality inspections are conducted by human employees; this is a fairly slow process that is vulnerable to mistakes. An AI-based system will continuously enhance its investigation derived from feedback, getting smarter over time and providing the most precise and efficient quality assessments.
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