Ten years after Google hired a team of Darpa Challenge veterans to spearhead its self-driving project the industry is still grappling with the many challenges of commercializing the technology for privately owned vehicles. So while manufacturers continue to optimize highly automated cars for the general public, autonomous vehicles (AVs) are rapidly carving out a niche in “last mile” transportation - connecting the edge of transit systems with final destinations. Download this piece to find out:
Ahead of the upcoming AVSV, we sat down with Dr. Ryan Chin, the CEO and Co-Founder of Optimus Ride, to discuss:
Whether you were able to attend Autonomous Vehicles or not, here's a recap!
There are multiple ways that artificial intelligence can be used, and is being used in the automotive industry. Applications range from autonomous driving and ADAS, to cloud services, personalization and vehicle-to-X communications, to the optimization of manufacturing and the supply chain, to driver monitoring, and even to the automotive insurance sector.
When we talk of artificial intelligence in the automotive industry, thoughts turn immediately to autonomous driving - perhaps considered the ultimate goal in the sector at the present time. However, AI has a multitude of potential uses across the industry including in manufacturing, driver assistance and safety functions, vehicle-to-X communications, cloud services, predictive maintenance, personalization, driver detection software, insurance, fleet management, and many more sub-sectors.
Broken down by the Vehicle, Customer & Systems levels, DOWNLOAD this industry brief to learn more about the tech pioneers developing the next generation of AI-enabled autonomous driving technology.
According to McKinsey, a progressive scenario would see fully autonomous cars account for up to 15% of passenger vehicles sold worldwide in 2030. In the same time frame, Mckinsey’s researchers estimate that the automotive revenue pool will increase significantly and diversify towards on-demand mobility services and data-driven services. This is estimated to create up to $1.5 trillion in additional revenue potential in 2030 - a 30% increase.
More data from the research firm shows that the proliferation of ADAS systems has increased dramatically in recent years. The number of ADAS systems worldwide rose from 90 million units to 140 million units in the period between 2014 and 2016 - an increase of more than 50% in just two years. This, in part, has been driven by a reduction in the cost of the technology and the customer’s willingness to pay for it. With a recent survey showing that on average, drivers would pay an extra $500 to $2,500 per vehicle for different ADAS features.
These growth curves are significant in terms of autonomous driving, yet the same obstacles still stand in the way of successful development and deployment of fully-autonomous vehicles. One of the most important barriers is that of safety, and vast amounts of research and development are being undertaken in order to solve this issue and create the necessary technology to meet safety requirements.