How Is AI Driving Innovation In The Automotive Industry?
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04 Oct
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Artificial Intelligence (AI) is constantly evolving, shaping many industries, however, the automotive industry is experiencing immense influence of AI. Statistics show that the Automotive AI Market will reach $15.9 billion by 2027, growing at a CAGR of 39.8% from the year 2019.
Right from self-driving automobiles to improved driving support systems, voice-enabled personal assistance, and improved passenger convenience, AI brings a multitude of benefits to the automotive industry. From manufacturing to supply chain and insurance, AI plays a vital role in revolutionizing the automotive industry completely.
The benefits are plenty, however, we have selected the top-notch ones to let you know how AI is transforming the automotive industry. So let’s explore and know so that you can make the most out of Artificial Intelligence for your business!
Benefits of AI in the Automotive Industry
Following are the roles AI plays, as well as the benefits of AI in the automotive industry!
Self-Navigating Automobiles
Embellished with AI-powered systems, self-navigating automobiles are at the forefront of addressing significant challenges of errors relating to driving which is one of the considerable causes of road accidents. These vehicles tend to be outfitted with a wide array of technologies such as GPS systems, onboard sensors, and innovative algorithms backed by machine learning to make real-time decisions.
This AI-powered system processes a wide range of data from its surroundings to recognize traffic signals, navigate roads, and make split-second decisions. It replicates humanoid driving competencies with less to no human error. Self-driving cars tend to set a new frontier in the automotive industry, providing an innovative solution to challenges in mobility, specifically for those unable to drive.
Improved Driving Support Systems
AI-enabled driving support systems provide robust solutions to critical issues like road safety. The system makes use of a sophisticated amalgamation of sensor technologies such as LIDAR (Light Detection and Ranging), radar, and kinds of high-resolution cameras embedded with innovative AI algorithms.
The AI uses these sensors and processes real-time data to perform functionalities, for instance, lane-keeping assistance, automatic emergency braking, and adaptive cruise control. The very technology is effective specifically in lessening accidents that may be caused by human errors such as distraction or wrong decisions.
Incorporating such AI-powered safety features not only enables businesses to meet the growing demand for safer vehicles but also positions them as a technology leader as far as technological innovation is concerned. That level of increased safer features will lead to increased sales volume, enhanced brand loyalty, and potentially reduced insurance expenses for end users.
Driver Identity And Vehicle Condition Assessment
Making use of Artificial Intelligence, the driver identity and condition analysis systems tend to enhance both safety and self-driving experience. Using facial recognition and biometric sensing technologies, the system tends to identify the driver and make adjustments to the vehicle’s internal settings such as mirror angles, seat positioning, infotainment system preferences, and the like accordingly. What’s more, they make use of AI algorithms to keep an eye on the driver’s attentiveness, detecting any sign of distraction or fatigue.
Technology plays a pivotal role when it comes to circumventing road accidents caused by driver inattention that’s a common issue in road safety. For businesses belonging to the automotive industry, such AI-enabled systems translate into a unique selling proposition, providing customers with a complete amalgamation of tailored comfort and improved safety. Furthermore, it also opens the doors for garnering invaluable data on driving patterns and preferences, usable for vehicle improvements and personalized marketing strategies in the future.
Improved Passenger Experience
By introducing innovative entertainment and comfort features, AI is revolutionizing the passenger experience in the automotive industry. The AI-enabled infotainment systems tend to learn passengers’ preferences over time, thereby suggesting the right music choices and routes. Apart from that, AI takes control of climate settings and adjusts settings as per the passenger’s comfort preferences. For instance, the AI-powered Porsche Car Configurator, enables customers to choose from hundreds and thousands of vehicle configurations, easing the process to make decisions, specifically for luxury cars.
By providing such AI-enhanced features, businesses in the automotive industry can boost the appeal of their vehicles. It tends to cater to enhancing customers’ demand for tailored travel experiences. This not only aids in customer retention but attracts new customers on the lookout for more connected and personalized vehicle experiences.
Voice-Enabled Personal Assistance
Driven by AI, the voice-activated personal assistants in vehicles are transforming the driver as well as passenger’s interactions with their vehicles. Furthermore, using natural language processing (NLP) and voice recognition technologies, the AI-powered systems, empower drivers to keep control of various functions in the car. They tend to manage navigation, entertainment, and climate control through voice commands.
The very hands-free operation mitigates driver’s distractions and circumvents road accidents. Integration of this AI assistant offers features to tech-savvy customers, enhancing the vehicle’s appeal.
AI In Automotive Manufacturing
Apart from all of the above, the role of AI in revolutionizing automotive manufacturing is crucial, providing solutions to longstanding challenges relating to efficiency and quality control. AI-enabled robots and machine learning algorithms have now become a significant part of manufacturing procedures like precision assembly, painting along quality inspection.
For example, Kia Motors incorporated the Hyundai Vest Exoskeleton (H-VEX) in the production lines dated back to 2018. The very AI-assisted wearable robot tends to assist workers by mitigating the risk relating to injuries. In factories, the Automated Guided Vehicles (AGVs) autonomously transport materials and navigate around the obstacles seamlessly.
AI in Supply Chain Management
You might not know, however, the complexity of car manufacturing involves around 30, 000 parts from various global suppliers. AI-driven supply chain management systems make use of predictive analytics and machine learning intending to optimize inventory labels, anticipate demands, and streamline logistics. This results in an efficient and cost-effective supply chain management. Besides, it reduces waste and ensures part delivery on time.
AI In Automotive Insurance
AI integration in automotive insurance ensures faster, more efficient procedures for claims and assessments. Furthermore, technologies such as machine learning and computer versions are made use of to assess vehicle damage, skyrocketing claim processing, and improving accuracy in damage assessment.
This, in turn, accelerates the insurance procedures that lead to enhanced satisfaction. Besides, for automotive businesses, getting partnered with insurance service providers that make use of AI-enabled systems is more likely to add value, providing customers with a more seamless post-purchase experience.
Conclusion
AI tends to transform the automotive industry in a variety of ways. Right from automotive vehicles to assistance in automotive vehicles and vehicle insurance, AI-powered systems are playing a vital role in the automotive sector. Now that you know the power of AI-enabled systems, you’re more likely to develop AI-powered solutions. If you’re thinking of leveraging the benefits of AI in the automotive industry, get in touch with us. We, at CodeEpsilon, are a team of efficient developers and engineers building groundbreaking automotive AI software solutions for businesses across the world. Contact us now!
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