Enormous technological breakthroughs are speedily transforming the automotive sector. To meet customers’ ever-evolving demands, automotive firms are deploying digital technologies throughout processes, including procurement, supply chain, sales, product design, marketing, etc. Thus, industry investments have also gone up considerably.
The digital trends in this sphere look promising and will contribute to its unprecedented growth. Digitisation is sure to bring down costs, boost efficiency and trigger innovation across the industry.
Let’s dive deeper and look at the benefits of digitisation for carsand the automotive industry at large.
Better manufacturing techniques
The automotive industry has benefitted heavily from smart, digitally-powered manufacturing techniques. Artificial Intelligence-enabled (AI) robots are replacing manual labour. These latest-gen robots can work on multiple assemble tasks simultaneously without compromising on efficiency.
With enhanced automation, sophisticated workflow-managing algorithms and connectivity, manufacturing have become cost-effective. Furthermore, visualisation technologies in testing and design drastically reduce the testing costs and lead to quicker time-to-market.
A convenient car buying process
Gone are the days when a showroom salesman was the only source of information about the car you intended to purchase. Today, customers demand a digitally-enriched experience, even while purchasing or researching a car.
People go online and learn about the vehicle way before stepping foot in a showroom. Even when looking for second ownership, you can easily check your used car loan eligibility on the net.
Thanks to digitisation, physical showrooms are transforming via Virtual Reality (VR). It enables customers to virtually experience the look and feel of cars, have a 360-degree overview, etc., without even touching the actual model! Moreover, second-hand car finance digitisationfrom trusted lenders has made it hassle-free to avail of a loan.
Enhanced transparency in supply chain
Integrating digitisation into an automotive supply chain yields large-scale benefits like maximised productivity gains, better quality control, and enhanced flexibility. It reduces cost as the end-to-end process gets managed effectively. Digitisation helps achieve supply-chain transparency, decreases defects through data analytics and accelerates component design, ultimately leading to speedy delivery.
Highly-personalised consumer experience
Nowadays, cars are being powered by AI, the Internet of Things (IoT), etc. As a result, automobiles support similar connectivity as your tablets, smartphones, laptops, tech wearables and other smart devices. As cars become connected, they generate loads of data about the car’s health, your preferences, software, maintenance, and more. This data can be used to provide you with a unique, personalised experience.
Additional Read: Has Budget 2021 added enough fuel to the automobile industry?
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