How Automotive Leaders are Embracing Digital Transformation [Podcast]
Innovation and disruption are not new concepts to the automotive industry. Technology driven trends are predicted to have a major impact on the future of designing, manufacturing, selling, servicing, and using vehicles.
In this digital age where consumers expect high connectivity, vehicles are becoming more like computers, and change happens rapidly, identifying ways to adopt digital transformation is a strategic priority for automotive leaders.
Capitalizing on Connected Vehicles
The modern vehicle is a complex system, with upwards of 100 million lines of software code and 150 programmable computing elements. All of which will steadily grow as evolution continues with electrification, autonomous driving, shared mobility and connected vehicle capabilities.
IDC predicts that by 2020, 25% of OEMs will be monetizing their contributions to connected vehicle data and Navigant Research expects annual revenue for connected vehicle systems to grow to $36 billion by 2025.
With petabytes of data being produced by vehicle sensors and the possibilities connected vehicles bring, it’s imperative for automakers to embrace digital technologies to fully leverage this data and understand where opportunities exist to improve legacy processes, deliver on customer expectations, stay ahead of the competition—and capitalize on revenue.
Expanding Partner Ecosystems
It’s no surprise that leading automotive players are forming innovation partnerships across high tech and chemical companies, as well as academia. Maximizing these relationships—along with traditional component suppliers, supply chain partners, and those involved in bringing vehicles to market—is a complex challenge.
As the partner ecosystem expands and new business models form, unification is needed to simplify the complexity and remain agile as change occurs. Empowering innovation and operations partners with digital collaboration will become critical to:
- Allow open and seamless design development
- Capture and share information securely
- Ensure functional vehicle safety, while improving driver experience
- Accelerating time to market with high tech vehicle features
To achieve this unification, technology leaders are looking to application platforms that provide an orchestration layer between automobile and systems, along with a dynamic business process engine, to enable workflow, collaboration and information sharing.
Responding to the Rapidly Changing Digital Landscape
With the complexities that connected vehicles and partner ecosystems present, automakers are investing in technology that helps them respond to the changing digital landscape by:
- Unifying enterprise systems and allows for an easy flow of information
- Enabling rapid design and development of applications
- Empowering collaboration inside and outside the organization
- Leveraging advanced technology of Artificial Intelligence (AI), machine learning, blockchain, robotics, and advanced security
Appian invited Jeffrey Hojlo, Program Director, Product Innovation at IDC, and Jo Seidel, Automotive Industry Expert at Appian, to speak on an episode of the AppianTalks podcast series about how the automotive industry is embracing digital transformation.
Listen to the conversation as they touch on digitalization–and how the power of a low-code application platform enables automotive leaders to overcome business challenges faster.
Specifically, tune in to learn about:
- The biggest challenges the automotive industry is facing today
- How leaders are responding to changing customer and business needs
- How organizations are progressing towards digital transformation
- Recommended approaches for unifying the digital experience and partner ecosystems—and technology making this possible
Click the play button below to listen now.How Automotive Leaders are Embracing Digital Transformation
For even more insight from Jeffrey Hojlo on how automotive leaders are approaching digital transformation, download the new report.