AI in Transportation: Report 2019
Let’s see how Artificial Intelligence cut down costs in transportation and open revenue streams to adapt the digital age. The growing technology, automakers can use AI to adapt to a changing transportation landscape, as it offers opportunities to both decrease production costs and create new revenue streams.
The technology automakers also include self-driving technology, predictive maintenance, and route optimization. Tech-mediated models of transportation – like ride-hailing, for instance – are presenting would-be car owners with alternatives to purchasing vehicles.
AI-based solution often requires new infrastructure, and updated security protocol. As such, it’s unsurprising that the main barriers to AI adoption are high costs, lack of talent, and lack of trust.
We will also show how some of the leading companies in the some of the leading companies in the space have successfully overcome those barriers and are using to adapt to the digital age.
According McKinsey, by 2025, AI is expected to provide $173 billion in cost savings across the entire automotive OEM supply chain, ranging from procurement to research and development.
Self-driving technology will be the biggest opportunity AI creates in the transportation space, As per a survey conducted by MIT Technology Review, costs will still be a major barrier to adoption more than half (53%) of global business and IT leaders cite the high costs associated with AI technology as a major deterrent to adoption.
