A new Microsoft report predicts that digital technology will transform everything in the automotive industry, from core operations surrounding the supply chain, manufacturing and dealerships/retail, to the entire value chain, which covers services, aftermarket, financing and vehicle insurance.
Microsoft and PSFK’s The Future of Automotive report highlights how cloud-based solutions and other digital technologies can help vehicle maufacturers, original equipment manufacturers and dealers transform their businesses in order to drive new levels of service throughout the entire value chain.
“We are at the threshold of unprecedented value creation for industry and society, driven by the accelerating pace of change enabled through digital technology,” said Anand Eswaran, corporate vice president of worldwide services at Microsoft, in a blog post. “Called the Fourth Industrial Revolution, this significant disruption of traditional industries is fuelled by speed, the falling cost of technology and how quickly companies are growing.”
According to Eswaran, these new digital technologies are changing the in-car experience, providing new options for entertainment and connectivity, predictive maintenance, customer support and road safety.
“We will reimagine how we build cars, we will reimagine how we buy cars, and we will reimagine what it is to ‘own’ a car,” said Eswaran. “We will democratise the automotive experience for billions of people across the world, and we will do this with our emerging digital capabilities. Traditional car manufacturers – not known for digital innovation – are embracing the ideas of connected cars and autonomous vehicles. Real social and economic impact will be realised.”
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