So, the real question we want to focus on here in this write up on after our current Artificial Intelligence In The Automotive Industry - M&A Trend Analysis is, what can AI really do for cars made and sold across the automotive industry? When we hear these terms, we’re immediately taken to images of autonomous, self-driving cars with awesome VR based GPS maps and dashboards. But that’s in the distant future, sure AI will be able to change the cars we drive. But before we get on the subject of autonomous cars, let’s talk about some more realistic advantages.

The automotive industry is the first area where IoT might be being applied in a thorough way.

In fact, this industry might even be the first to bring useable, commercialized IoT applications and devices to the mass consumer. But it’s a slow process because, in order to have full AI deployment, the actual vehicle needs to be 100% IoT enabled. So, when it’s taken for a drive, it should be able to collect various forms of data in any kind of situation possibly imaginable. When it bumps into nearby cars or objects, crosses speed limits, it should be able to capture these events.

They could use IoT to improve the deployment of actuation mechanisms and other systems inside the car.

We already have seat-belts and the airbag safety mechanism and we also know how or when they will be deployed. IoT can improve on this expectation by ensuring that they are in good condition, work on time and when required. Some companies have manufactured and IoT seat belt sensor that works the brand's own software analytics to read passenger vital signs and is integrated into the belt free of wires or batteries. This could help prevent accidents that occur when these critical systems get jammed or stuck.

Government initiatives and regulations also come into play when bringing IoT into the industry.

Laws connected to safer driving are what’s important here as they make it mandatory for drivers to install safety mechanisms like the ones mentioned earlier, ADAS devices – things that could get better once IoT has been introduced. What this means is that these regulations make the future of this market a favourable one, imposes stringent safety guarantees even is the use of advanced technology could make safety devices cost-prohibitive.

Now that we have the basics positives covered, let’s talk about the other side of using IoT, or other applications that exclude passengers cars.

You can have high speed, IoT powered trucks, delivery vans where networking between fleets of these trucks would be easier once they have this level of IT capability. Some people have suggested using autonomous cars on F1 race tracks too!

Such vehicles can be provided to law enforcers or police, which utilize IoT powered cameras to monitor road safety, manage civil cases, get information about thefts.

What is really required?

Hype aside, IoT can do a lot for preventing, minimizing accidents and improve driving. Coupled with AI, it could even do all the driving for us, but give them freedom to switch if we don’t. But what we can really gain from it using IoT to monitor the dynamics of the vehicle, taking preventive actions in situations when we are unable to do so.

Check out the Research on Global Markets report featured in this article:

Artificial Intelligence in the Automotive Industry - M&A Trend Analysis
October 2019 | 104 Pages | SKU: 2018244