8 Ways to Put the Algorithm in the Auto Rhythm (Episode 1)

 

In this episode of the auto rhythm series, we will see traverse the auto technology scene and examine the improved functionality of vehicles. We will also explore how marketers can engage with customers by providing them with the services they need at the right time.

Here are automotive tech trends that are hot off the press in 2018:-

Automotive Tech trends:

 

Bots behind the scenes

 

Car manufacturers like Hyundai and Mercedes-Benz are demonstrating how AI-powered infotainment systems in a vehicle can become a  personal assistant.

  • Hyundai’s Intelligent Personal Agent, like Apple Siri, responds to commands and proactively aids drivers by sending out reminders and suggesting departure times based on en-route traffic.
  • Research shows that  AI could result in a 39% productivity boost to the manufacturing sector. AI-enabled automation can streamline most repetitive tasks so keep your eye on this trend in 2018.

This technology paves the way for fairly linear auto journeys to become more personalized and targeted based on demographics, income, residence and several other factors. As AI and other tech become part and parcel of connected cars, they tear down linear boundaries by capturing micro-moments to influence the trajectory of modern consumer journeys.

Don’t upset the algorithm- cars climb the IQ ladder

 

AI or personal assistants play a major role in automobile manufacturers’ commitment to make vehicles connected by 2019. Therefore, automobile companies plan to adopt “cellular vehicle-to-everything” technology (C-V2X) in a few years.

  • This technology is faster than Wi-Fi and communicates with other vehicles and roadside infrastructure. C-V2X user interfaces aim to be as sophisticated and “smart” as virtual assistants like Amazon Alexa.
  • C-V2X paves the way for brain-to-vehicle technology of the future. This will measure brain wave activity to predict a driver’s actions. I don’t know about you, but this tech brings to mind the Metalhead Black Mirror episode!

Auto industry professionals can play a role in bettering the CX (customer experience) by connecting a chatbot or mobile assistant to a car via a tablet or smartphone. This could open the door for instant connection to AI or a customer service representative.

 

Big data  is THE king

 

Automakers are leaving manufacturers in the dust when it comes to industry digitization and the IoT. IoT is “the concept of […]connecting any device with an on and off switch to the Internet.”

  • IoT and Cloud agility will continue to improve thanks to manufacturers and  IT infrastructure. These sectors must become more high-performing and agile as cars become more connected.
  • The potential of big data monetization is currently being overlooked as it is one of the most profitable aspects of car manufacturing. McKinsey has estimated that the figure could reach $750 billion by 2030.

Thanks to the Internet of Things (IoT), cars are now increasingly built with internet connections, allowing carmakers to attain information about drivers.

This information can include frequented locations, distance driven to and from work and daily mileage. Marketers thus have ample opportunity to communicate relevant messages or car service reminders to auto users and monetize the data generated from their cars.

 

Blockchain is the rising star

 

Blockchain technology is a buzz word across industries. As connectivity and software needs in automobiles increases, IT and data security concerns are on the rise. This is where blockchain technology comes in.

  • Mobility projections indicate that blockchain might soon authenticate drivers, cars, car parts, data transmissions, and other digital puzzle pieces of the “digitized” auto industry.
  • Blockchain will make it easy to eliminate counterfeit parts from the market and shape carmakers’ pricing strategies. It has the potential to reform digital trust and create trustworthy and accurate protocols for the automotive parts supply chain.
  • By 2025, members of the automotive sector are expected to spend approximately 0.6% of their IT spend on blockchain technology. The global blockchain market is expected to be worth  $20 billion by 2024

 

A take-home reminder for marketers:

With rising safety concerns,  you need to step in and invest in experiences that make brands stand out and create positive attitude and behavior that benefit your brand.

 

Stay tuned for the 4 digital marketing trends taking the auto industry by storm and give this a like and share if you enjoyed what you just read!