Durability and reliability have always been paramount for car owners. Nobody wants unexpected breakdowns or soaring repair costs, especially during long journeys. Today, artificial intelligence (AI) is putting these problems in the rearview mirror.
For automotive executives, the potential of AI extends far beyond improving reliability. Understanding these transformative opportunities is crucial to staying ahead in an increasingly competitive market.
Here we’ll explore how AI can unlock transformation across three key areas: enhancing the driving experience, improving efficiencies in factories and accelerating sales.
Transforming in-vehicle experiences with AI
Buyers today expect durable vehicles, engaging experiences and features that deliver real value. AI is making this a reality, connecting driver and car like never before.
- Boosting durability and safety
By monitoring real-time data to assess potential issues, AI can predict and prevent breakdowns. According to McKinsey, this could help reduce maintenance costs by up to 25%. AI can also educate drivers on fuel-efficiency, helping to reduce costs and extend the vehicle’s lifespan.
- Engaging and connecting the driver
Car trips often feel isolating, even with passengers. While screens and radios offer distraction, they don’t create connection. AI offers the chance to have a personalised travel companion along for the ride, offering games, entertainment and activities tailored to the driver.
Moreover, this AI companion helps drivers stay connected, summarising incoming messages, composing responses – all helping the driver to stay focused and away from their mobile.
- Simplifying driving
Whether it’s maximising the car’s features by suggesting cruise control, or suggesting the fastest route available, AI can make driving that bit simpler. This will be critical with the move towards electric vehicles (EVs) – 90% of EV owners say they’d like their vehicle to have the ability to locate and navigate to a public EV charging point.
Accelerating car sales by using AI
While the in-car experience alone is helping boost car sales, this rapidly evolving technology is also helping dealerships and manufacturers drive higher conversions and customer loyalty.
- Hyper-personalised marketing
By analysing customer data, AI can identify preferences and behaviour to determine, generate and then deliver targeted advertising and customised offers.
- AI-enhanced buying experiences
Virtual, personalised showrooms and AI-generated 3D models – buying a car is no longer a case of heading to the nearest dealer. Unique digital experiences are enhancing the customer experience and improving accessibility for potential buyers.
Driving factory efficiency with AI
With AI, factories can operate with greater precision, speed and cost efficiency. From predictive maintenance to automation, the opportunities to streamline operations can provide significant business benefits.
- Predictive maintenance
By detecting equipment failures before they occur, manufacturers can reduce downtime and repair costs. BMW is already seeing success with its AI-powered system, avoiding an average of 500 minutes of disruption a year.
- Smart automation
AI-powered robotics can help improve the speed and precision of factory tasks, minimising errors and potential correction time.
- Supply chain optimisation
By analysing vast amounts of data along with potentially influencing factors, AI can significantly improve accurate forecasting for supply and demand. In fact, McKinsey predicts that it could reduce forecasting errors by 30 to 50%.
Harnessing the true potential of AI
The opportunities AI presents are transformative, but time is of the essence. Early adopters are already reshaping customer expectations, unlocking new revenue streams and gaining market share. For C-suite leaders, investing in AI is not just about keeping up but about leading the way.
At Endava, we empower automotive companies to navigate this transformation, designing and implementing AI solutions tailored to your business needs. With our AI-native approach, we help automotive companies enhance customer satisfaction and drive operational efficiency.
Get in touch to learn how we can help you leverage AI to transform your business.