Application of AI, IOT and ML for Business Transformation of The Automotive Sector

Abstract

Automotive industry is essential in human lives. It is not possible to imagine a day without driving or some public transport. Today, digital technologies are making motor vehicles and the industry more intelligent. The entire value chain of automotive business is transforming. A better connect with customers is needed. All this is possible through advanced digital technologies. Automotive companies are overhauling business processes and relationships. Legacy IT systems for manufacturing, engineering, supply chain etc. are being reinvented. This transformation encompasses software, robotics, connected devices, and artificial intelligence. Artificial intelligence (AI) made the dream of self-driving cars possible. AI will soon transform every device. Tesla, Google Waymo, and Nvidia are examples of machine learning algorithms used to detect how far different objects are, from the car. Augmented reality (AR) and virtual reality (VR) analysis enables users to watch blind spots. AI enhances security by simultaneous coordination with many sensors. With AR, VR and mixed reality (MR), automotive companies have a personalized retail platform and a competitive edge. This paper studies AI applications in the automotive sector. It studies the recent developments, and applications of AI. It discusses how companies use AI for cost reduction, market strategies, sales promotion, and even funding.