SAP: Disruption is an Opportunity for Automotive industry
In 2023, 65% of US vehicle buyers said they shop for vehicles partially or entirely online, according to S&P Global Mobility. Car companies are building new ownership models to suit this new consumer habit. Scott Russell, Executive Board of SAP, argues that utilising Gen AI can help the automotive industry, from reducing time-consuming tasks to building the customer experience.
Gen AI is changing the automotive sector
Software development company SAP upholds the sustainable supply chain with its manufacturing software. In the adoption of Industry 4.0 technologies, such as the Industrial Internet of Things and intelligent automation, these technologies are used to power efficient machinery and factories, by offering manufacturers the visibility and transparency they require to lower their emissions and meet customer expectations.
SAP E-Mobility assists companies in managing large-scale electric vehicle charging networks, promoting a shift to sustainable electric transportation. This solution empowers businesses to oversee charge points, integrating them into the mobility value chain on the cloud. It facilitates connections between stakeholders, fostering collaborative business models. With SAP E-Mobility, companies can seamlessly incorporate EV charging into core business activities like reimbursement.
SAP E-Mobility made the list in our Top 10: EV Technology Companies.
Read it here.
According to Russell, Gen AI is creating change in the automotive sector, particularly by automating time-consuming tasks and allowing data to be used in more intelligent ways.
“For the auto industry, it’s beginning to improve everything from design and forecasting to manufacturing and production, while also making the customer experience more personal,” he says.
Plan and pivot with Gen AI
Precedence Research projects the global market for Gen AI in the auto industry will reach over US$2bn by 2032. But this is fueling a new urgency for automotive companies to transform digitally.
“Simply put, this means incorporating digital technologies into every aspect of a business’ operations. It allows businesses to seize new growth opportunities faster than they could before and future proof their operations in new ways.”
By transforming digitally, businesses can plan and pivot at the same time.
“Despite a lot of macroeconomic uncertainty in the world, I believe the future for the auto industry could not be brighter,” says Russell. “It will belong to those who put digital transformation at the centre of their business strategies, fueling unlimited possibilities for growth and success.”
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