Artificial intelligence (AI) is set to take over, and it will be the catalyst in revolutionizing different industries. One sector that could benefit from it is the automotive industry. However, the changes go beyond producing driverless cars. Here are some ways how AI can impact the auto industry.
According to The Motley Fool, companies such as Alphabet and NVIDIA are making strides when it comes to AI in driving. NVIDIA has brought Drive PX Pegasus, its AI supercomputer meant to introduce semiautonomous driving to cars, while Alphabet’s Waymo has improved road maneuvering after undergoing countless simulations. Alphabet announced it will unveil its driverless ride-hailing service during the latter part of 2018.
Aside from autonomous driving, AI can also vastly improve car production. Maintenance expenses will effectively go down because sensors and algorithms can monitor equipment and parts. AI can also do a better job of detecting defects compared to manual inspection, which can reduce inspection costs and the cost of maintenance, as a result, even further.
On the other hand, businesses will also feel the effects of the changes brought by AI. McKinsey & Company wrote that original equipment manufacturers (OEMs) are expected to be heavily affected, but those dealing with technology can gain an advantage in this setup, which is one of the reasons why critics fear the takeover of AI in the near future. Jobs handled by humans before will become obsolete or redundant because robots can make them faster, cheaper, more accurate and more convenient.
In a connected society, drivers could locate gas stations, nearby restaurants or grocery stores via a cloud-based AI platform. When it comes to repairs, a car can automatically update or send information to dealers about the problem without requiring a shop visit. The safety of the driver and passengers is also prioritized with the help of sensors, which can detect if a person is having medical emergencies.
According to Forbes, the insurance companies will also like gain from cars with AI technology. Risks and damages can be assessed, and driver behavior and tendencies can be monitored to avert accidents on the road.
Anupam Malhotra from Audi America said that the society will change and adapt to the emerging trends, Automotive News reported. “The whole idea of transportation as something that you ‘own,’ or hold onto, and only use when you need it — as opposed to something that you have access to when you need it — that is going to have to change,” he added.
Learning from mistakes
Tech and auto companies will encounter pitfalls along the way and must learn from them in order to move forward and improve.
Recently, a driverless Uber car hit a woman in Arizona, killing her. As what The Guardian reported, the car was supposed to detect the victim or pedestrians, but it failed during that tragic moment. Investigations are ongoing to find out what went wrong.
In cases such as this, the aforementioned companies must first show they can guarantee the safety of pedestrians and drivers before releasing driverless cars. Until they are successful, expect autonomous vehicles to be launched at a later date.
AI taking over is almost inevitable at the moment. This is the next step in technological advancement and in the race to improve human lives. Truth be told, the possibilities are indeed limitless, and they should mean more good than harm.
4 strange trading theories to know about
Following volatile markets has its intricacies, but there are trading theories that may seem out of this world. Here’s a...
For the cannabis industry, big data is the new gold
To make good use of data is never easy, and the challenge can be overwhelming when dealing with big data.
Institutional investors finally step into cryptocurrency market
The cryptocurrency gets a newfound strength thanks to the entry of institutional investors. Will the market gain new footing?
Is AI killing A/B split testing?
Marketers use A/B split testing to help them in decision making, but artificial intelligence can help fine-tune this method. Here’s...
How to boost your business using mobile marketing
People check their smartphones 80 times in one day. Here’s how businesses can reach a wider audience to advertise goods...
Sponsored1 day ago
Harbinger Research Labels PotNetwork a ‘Strong Speculative Buy’
Featured3 days ago
Business MOOCs: Where to learn and their impact in one’s career
Featured2 days ago
World leaders and their famous animal companions
Agriculture3 days ago
Cage-free eggs vs regular eggs: Which is better?
Featured5 days ago
What to emulate in Apple’s business and workplace management
Business2 days ago
Tips on how to smartly use credit cards overseas
Featured4 days ago
Retirement planning: What to know about the current distribution phase
Business3 days ago
Why big data is a game changer for the real estate industry?