Automotive Sector into a phase of Automation
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The automotive sector is entering into a new era of personal transportation with connected and intelligent cars hitting the roads. Traditional automotive companies are coming face to face with software outfits to create automated cars of the new era. Newer vehicles will stay different primarily by their innovative technology involving assisted driving and connectivity. New research and development initiatives are transforming the industry to respond better to the opportunities of Gen Z. Major automotive companies are spending more money on R&D to stay ahead of competitors in the race.
US automotive sector which is at the forefront of innovation stands a good chance of cashing on this newly found interest in intelligent cars. An open investment policy, highly skilled workforce, a large consumer market, government incentives and available market may help the country to stay as the frontrunner in the auto industry.
A digitized vehicle with Wi-Fi, smart systems for selfbraking, self-parking and automatic cruise control based on road conditions, computer-operated power steering, and real-time location services can drastically change the driving, traveling experience shortly. The idea of a fully autonomous vehicle may seem too futuristic, but the pace in which technology advances makes it an achievable dream in the present decade itself. For automakers, this is going to be a crazy period of transformation.
If you are a CEO or an executive at an automotive company, its time you should be driven by the need to innovate. At the same time, one needs to be more cautious about threats like hacking that can tamper with the connected vehicles. Technologies meant to create seamless driving and traveling experience can be used to compromise on vehicle safety and handling. A calculated move to integrate new technologies along with strengthening of their traditional firewalls may do the magic for the automotive sector.