Artificial Intelligence Creates Immense Potential for Innovation and Growth in the Car Industry

LONDONApril 6, 2016 /PRNewswire/ -- Artificial Intelligence (AI) and Digitisation will change the future of cars, challenge traditional business models and create immense potential for innovation. In future, cars will be cognitive – not only will they recognize voices and be able to optimise the journey, they will also incorporate other cognitive technologies of AI - computer vision, machine learning, rules based systems as well as planning and scheduling. It is around these subjects that Frost & Sullivan's Intelligent Mobility event - taking place in London on the 28th and 29th of June - will evolve.

Today, there are 4.4 million taxis globally. In 2020 this number is expected to reach 5.5 million. Once the commercialisation of autonomous driving kicks in, the taxi market has the potential to double. This would allow for mobility to become a commodity or a service, which could compete with public transport. Similarly, commercial transport will be affected by AI. By 2035, approximately 300,000 heavy-duty truck drivers globally could lose their jobs based on freight efficiency enhancement tools, automated driving and other utilization technologies. The societal impacts of AI, and autonomous driving as one element of it, will be far-reaching. Alongside the impact on the society, AI and autonomous driving will change the future of our cities.

Isabel Dedring, Deputy Mayor, Transport at Greater London Authority will be a keynote speaker at the event of 28th June, hosted at The House of Lords. Dedring will explore how policies have to change in order for cities to be able to adapt to these changes in an ideal way.

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The two major concerns connected to cars are accidents and pollution – which will be significantly reduced or even eliminated, once electric vehicles and autonomous driving work together. AI enabled automated driving also has the potential to eliminate traffic jams, as Frost & Sullivan Senior Partner Sarwant Singh explains: "Today, when you are caught in a traffic jam, it is already too late. In future, AI combined with data analytics could predict a traffic jam, avoiding not only you getting into the traffic jam but preventing congestion in the first place."

On the 29th of June, visions of the future of mobility will be explored. A highlight will be the contribution of Julia Steyn, Vice President, Urban Mobility Programs at General Motors, who will speak on GM's concept of new urban mobility business models to target new customers. Sarwant Singh will introduce the subjects AI and digitisation with his keynote speech. "We are moving rapidly into the cognitive era where Artificial Intelligence and digitisation in cars and transport will disrupt the future of the car and pave the way for new business models. Everything from vehicle design to ownership models and mobility services will be transformed. This is an exciting change for the industry to embrace."

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