Integration of Artificial Intelligence has made Smartphones even smarter and with innovation and up-gradation in technology, everything has been simplified. Whether commuting, searching for properties available for rent or sale, ordering food and groceries, or owning an autopilot car everything has been made possible within a few clicks on your smartphone.
As per the insights from Statista, the worldwide automotive manufacturing market is estimated to reach $2.8 trillion in 2022. This statistic is a proven fact that the growth of the automotive industry is inevitable and will continue to grow rapidly in the upcoming years with the integration of technology into this industry.
What is Artificial Intelligence?
Artificial Intelligence, also termed AI, is the use of intelligent or smart machines to mimic and complete complex tasks just like humans which includes reasoning, problem-solving, decision-making, and many more.
As per the numbers from Fortune Business Insights, the worldwide AI market is estimated to grow to $266.92 billion by 2027 from $27.23 billion in 2019 at a CAGR of 33.2%, which brings in numerous opportunities for the automotive industry as well as the other business sectors.
Tesla’s autopilot cars are among the well-known examples of the integration of AI into the Automotive sector, with the owners making the best use of it.
Role and Benefits of AI in the Automotive Industry
The things that we used to see on the TV or in fictional comics are not imagination or graphics anymore now. There will be driverless cars in the future as technology is transforming rapidly And with the possibility of making things happen, AI has played a very important role in keeping up with the standards and has made it possible to transform the automotive industry from manufacturing automated cars to managing traffic in your area, it will be capable of helping with all the automotive requirements of the consumers.
AI has already made a huge impact on several industries like the aviation industry, logistics, and many more. It is now highly preferred by companies because it automates the workflow, improvises digital sales, and even helps in customer retention.
- Autopilot Cars – Autopilot cars have been a hype nowadays where AI plays a primary role although it might take time for it to normalize, it is the future of the automotive industry. Now that the integration of AI into the automotive industry is making automatic vehicles a reality, the reality will be visible only when we see enough driverless cars on the road without any negative impact on people and the environment.
Also, AI is capable of adopting innovations easily, so when it comes to driverless cars AI has made it possible and has way more opportunities to improve it with time.
- Improvised Manufacturing – With the hype over autopilot vehicles, the automotive industry has been under the limelight, and the use of AI in this industry has made it possible. This amalgamation of AI and the automotive sector has addressed even complex tasks and made them easier, along with manufacturing as well. Be it integrating AI-based sensors or chips or algorithms the manufacturing process is also automated and simplified. With this, you can manage the inventory, equipment, production ratio, data, and other high-end features as well. Using AI for manufacturing purposes in the automotive sector also decreases the cost, the human labor making the work efficient and free from errors. Also, it helps in developing better quality automobiles and vehicles with improved customer satisfaction.
Additionally, AI and Machine learning together also make sure that the works work without getting any injuries and also help in identifying irregularities in the raw materials to issue quality assurance alerts so that it does not create any problem when rolled out in the market for the consumers.
- Transport Management – Now when talking about the automobile sector, transportation is an important factor that cannot be missed. In smart cities, AI has already made huge differences in managing transportation as well. With cameras and signals installed almost everywhere on the road, AI now uses Intelligent Video Analytics (IVA) to manage traffic and also makes everything on the road smooth and efficient. Additionally, these smart systems also improvise traffic incident reporting and also help in reducing car congestion on the roads.
- Detects and Prevents – AI uses Natural Language Processing, which means it is concerned with the interaction between a machine and a human so when it comes to traffic lights/signals or the probability of you being stuck in an accident then AI proves to be the gamechanger. Here AI and automobiles together help in detecting the traffic and alert you about the status on the road so that you wouldn’t miss anything important and reach it on time. Plus it also shows you the route to your destination without the need for opening maps on your phone, which means it automates everything, simplifying the driving experience and making the best use of technology with it.
Now that we have described the few roles and benefits of integrating AI into the Automotive Industry, it is clear that AI still has enough room to grow in this specific industry. And Artificial Intelligence alone has benefits worth mentioning.
So summing up, AI alone has served well to all the consumers simplifying their day-to-day tasks and making them effortless. Although it is challenging, the fusion of AI and the Automobile industry is certain to bring it above the existing level with a never-ending growth to making the driving experience seamless and easy for the drivers and additionally avoiding accidents and congestion on the road. Also note that it might take time and investment but the results will be worth mentioning, bringing revolutionary changes in the automotive industry.