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The automotive industry has always been one of the first business sectors, especially from a retailing perspective, to embrace new pieces of technology. To reference, some technological applications we use on a day-to-day basis such as the GPS in our smartphones are coming straight from a decade of development within the automotive industry. In 2019, with examples like TESLA and the European powerhouse guided by Audi, the above-mentioned statement still makes a lot of sense and, from a business perspective, it's important to picture the current state of the technological development of this sector. Let's analyse this in detail.
TESLA's Automation Game
Elon Musk's company is the first major example, as said above when it comes to technological development within the automotive industry. Mainly due to their automation-related features, TESLA has set up the foundation in regards to the (not so) futuristic "driverless" experience, which Elon Musk admitted it could become reality in a mainstream market scale before 2030. Of course, these are just projections and hypothesis for now, but if that was true, our driving experience could change drastically in a couple of years.
What's "The Driverless Experience"?
As of today, the driverless experience refers to using SLAM (Simultaneous Localization And Mapping) algorithms which are scanning the surroundings, projecting them into a virtual environment that guides the vehicle autonomously. TESLA is currently using an advanced version of this setup in their autopilot, but it can't be considered "driverless" yet, as a person must be physically on the vehicle. Audi stated recently that "the driverless experience" will transform our current driving routine, increasing comfort and moving what could be a stressful task into a relaxing, luxurious experience.
Security, With New Technologies
Speaking of the upcoming driverless experience, it's quite easy to understand why many companies and industry analysts are saying that, from a security perspective, this new technological route could be dangerous. One simple hacking work in the framework which is controlling these vehicles could cause massive accidents and, when connected to smartphone devices, it could be a massive concern for data security. In general, the fact that a moving vehicle must be constantly connected to the internet is a massive source of concern.
From A Business Perspective
With automation features and more new pieces of technology being embraced by car manufacturers in 2019, we can safely say that the entire automotive-related business segment will change once these will reach the mainstream market. Imagine booking a taxi, which will come to you without a driver. Sounds like science fiction, right? It could become a reality in 10/15 years from now. Following specific business sectors insights, also, what's normal from today's buying perspective, like signing up for a commercial van leasing plan, with the introduction of these new technologies, will also cover AI-related insurance plans, which will heavily change both the budgeting side of things and most importantly, the signing process.
To Conclude
The automotive industry is definitely changing. By solely covering the driverless trends which are being developed at the moment, we've already seen how big the whole business sector's development is, even from just a hypothetical point of view.
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