Where there are new technologies, there are new trends — which come with the need to understand them to remain competitive. The automotive industry is certainly revolutionizing as advancements are made. In fact, it's one of the first places consumers encounter new technologies, per Notarize.
Importance of technology trends in the automotive industry
Tech trends sometimes appear as disruptive innovations, but they are necessary and inevitable. Here are some of the key reasons for technology trends:
- To meet changing customer behavior and demands.
- To facilitate innovation and advancement.
- To improve safety and efficiency.
- To maintain a competitive edge.
While some changes can be scary, it's better to be aware and prepare for them so you can take advantage of advances that may come in the future. That said, rev up your engines, and let's explore some of the latest automotive technology trends.
We are living in an era where everything is connected — even cars, which are now learning the language of our devices. By using the Internet of Things (IoT), vehicles communicate with other systems, including other cars, the road and even our electronic gadgets (phones, tablets, etc.). With these new and improved social abilities, drivers and passengers can enjoy a safer and more exciting driving experience.
Electric vehicles (EV)
The reason behind the rise of EVs is mostly due to environmental concerns, as, according to the United States Environmental Protection Agency, a standard passenger vehicle outputs approximately 4.6 metric tons of CO2 each year. Now, with EVs' being clean, green and energy-efficient, drivers no longer have to carry the guilt of emitting harmful gases into the atmosphere. Moreover, vehicles operated by electricity offer greater battery life and more advanced charging infrastructure.
From movies to reality — cars are now capable of driving themselves. Ingrained with smart technologies and AI capabilities, cars can easily interpret their surroundings and maneuver the road with superb precision. Though many find this new technology an unsafe and possibly unreliable innovation, the demand for it is growing; McKinsey research reveals that autonomous driving might generate $300 billion to $400 billion in revenue by 2035.
Artificial intelligence (AI), augmented reality (AR), head-up display (HUD)
Those who are not interested in being driven by a car can receive support from a co-driver (or three) — AI, AG and HUD. AI is making automobiles smarter, allowing them to adapt to your preferences, improve safety and increase efficiency. AR is reinventing navigation by projecting directions on your windshield while keeping your attention on the road. And HUDs are transforming windshields into data dashboards, displaying information in your field of sight and alerting you to potential hazards.
The ability to call on a mode of transport is easier with services like Uber and Lyft. And that has motivated people to "book a car when needed" as opposed to owning a car. You may be wondering, "How is this a tech trend?" Well, it's simple, but shared mobility is only possible with web and mobile apps that offer flexibility and convenience when it comes to accessing a vehicle. This can also reduce congestion and carbon emissions.
Embracing automotive technology trends: Best practices
- Prioritize safety and security: Safety is key, so always keep both eyes open when it comes to passenger safety or cyber-attack defense. Maintain a robust defense line in your technological integration.
- Stay informed and educated: Be keen on learning. Keep up with the latest in technology, laws and market dynamics.
- Develop a roadmap for implementation: More than just adopting technology, plan its integration into your processes. Establish the way to go, allocate responsibilities (if you have a team) and anticipate any roadblocks.
- Invest in research and development: Invest money, time, and brainpower into research and trust in your skills and knowledge to also innovate and adapt to new newest tech developments.
- Collaborate and network: Form strategic partnerships with IT leaders, join industry organizations and seek advice from people and institutions with more knowledge.
- Monitor and evaluate performance: Maintain a close watch on performance. Track progress, get input, and make changes along the process. Practice flexibility, and don't be afraid to make course corrections.
In the dynamic field of automotive technology, you must be able to adapt and change while also being prudent and ethical. That said, embrace the journey, advance your knowledge and play an active role in leading the automobile industry toward a safer, smarter and more sustainable future for all.
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