How ‘Autonomous’ Is The Future Of AI Across The Automotive And Transportation Industry?

Artificial intelligence is making inroads into the automotive and transportation industry. Is this a beginning of an AI takeover? A question that many people are asking at the moment. The one thing that people are trying to figure out is whether or not this is the beginning of a solemn revolution. If a transition is indeed taking place, it might impact the future of the automotive and transportation industry. Taking into account statistics, a recent report published by MarkNtel Advisors reveals that Global Artificial Intelligence (AI) in the Automotive and Transportation Market projects a CAGR of around 20% between 2021-26.

Here, we are letting you dive deep with us. And, allow us to unfold a few crucial aspects concerning the market in the long run viz a viz latest trends in AI in the automotive, types of technology involved, the advantages and risks associated with the adoption of AI, its future impact in the automotive industry, and a lot more.

Why Is AI More Sought After Than Other Technologies?

Artificial Intelligence (AI) has transformed the way humans interact with technology. As a concept, AI has been around since the late 1950s. So why is it suddenly in vogue? Let's have a look at two reasons: the state of the automotive industry and the advancement in hardware.

The automotive and transportation industry is undergoing a much-needed change. Technology is making the industry more efficient, leading to a substantial shift and significantly impacting the industry with the implementation of self-driving vehicles.?

Probably it is why AI-driven technology for image processing, speech recognition, and data analysis is being actively developed by several well-known manufacturers. Additionally, the automobile industry is rapidly gaining momentum with the advent of autonomous vehicles that can see, think, drive, and learn.

Access Sample copy of this report

What Are The Latest Trends In AI That Are Shaping The Automobile Industry?

Every person has a different opinion about how technology is trending. Some say AI will take over the automotive industry, while others say it will remain a niche. If you're wondering why AI is trending, the answer is quite simple, AI is doing everything from driving to automated manufacturing. AI is also taking over the transportation industry. The best part about AI is that it's constantly evolving and adapting.?

Bringing a few instances to the table might give you insights into the wide adoption of advanced technologies like Artificial Intelligence in the Automotive and transportation sectors. These are:

●?????Subaru is all set to launch its AI-based next-generation EyeSight driver assistance systems in 2025. The innovation will expand on Subaru's stereo camera system and uses artificial intelligence to enhance computer identification in challenging lighting conditions, such as when lane markers are buried in snow.

●?????Recently, Stellantis launched a $23 billion software push. By 2030, there will be 34 million connected vehicles on the road, up from the current 12 million, according to the automaker, who will be working with partners like Foxconn and Waymo. A specific AI technology platform is also planned.

●?????In March 2021, BMW embarked on its next-generation infotainment system, iDrive 8, specially designed to provide digital intelligence to drivers. These systems are powered by various technologies, such as machine learning, AI, natural language processing, etc.

●?????In February, of the same year, Volkswagen joined hands with Microsoft to develop an Automated Driving Platform (ADP) for the agile development of automated driver functions and deliver automated driving experiences to drivers even faster.

●?????In June 2020, Mercedes-Benz & NVIDIA collaborated to build a revolutionary in-vehicle computing system with AI infrastructure.

What Are The Different Types Of AI Deployed In The Automotive And Transportation Sectors?

Among popular technologies like Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision, and Deep Learning widely incorporated in vehicles and associated equipment Machine Learning has got the lead. All thanks to technologies like image recognition and anomaly detection, which are primarily used to quickly identify and remove problematic car components before they start causing problems with the workflow of vehicle manufacture. ?

Supply chain optimization is one of the use cases of Machine learning in the Automotive industry. As such, supply networks today produce massive complex data. This data can be analyzed by ML, which will then use the data gathered to improve supply chain management. The timing and handoffs of products as they move through the supply chain can also be examined. It can pinpoint possible bottlenecks and offer ways to improve the supply chain after analyzing the gathered data.

On the other hand, Natural Language Processing (NLP) has gained traction over the year predominantly due to its incredible ability to analyze & understand customer needs, preferences, buying behavior, & decision-making process, among other aspects. It, in turn, is aiding the sector by boosting vehicle sales using these technologies. Besides, the rising adoption of NLP to enhance the automation & quality checks in vehicles again fosters the automobile sector.

What Are The Menaces And Challenges Of AI?

Adequate training in neural networks is one of the intricacies of creating and implementing AI technology. In general, the complexity of the neural network model must increase with the complicatedness of the problem. That suggests big models. Besides, creating and testing AI models that rely on big data sets to validate that models perform as stated training demands vast resources and skill. Long-term training of AI models necessitates the acquisition of substantial databases.?

Although automakers are incorporating AI technology, risks and concerns such as data breaches, security and privacy issues, cyberattacks, and driver distractions, among others, are some factors that could limit the industry's growth. Next, Threats, including bugs in the dashboard computers that enable hackers to deactivate cars or introduce malware into the automotive systems, are some of the factors causing concern.

Summing Up

We hope you get a bit idea about how AI is shaping the future of the Automotive and Transportation industry and how you can take advantage of these developments, especially if you are a manufacturer or investor. Technologies like AI are becoming more and more ubiquitous and are playing a large role in our daily lives. Again, AI is changing our world and has the power to make car manufacturing more efficient, autopilot devices work better, and put less strain on human drivers in the years to come.

To Get Full Details of "Artificial Intelligence (AI) in Automotive and Transportation Market" - https://www.marknteladvisors.com/research-library/global-artificial-intelligence-automotive-transportation-market.html