Get ready for a surge in investment in AI for the automotive sector. That’s the forecast from research outfit Tractica, which said that while the market for AI systems is clearly in its infancy, a future of strong growth is virtually assured.
Its study (the results of which sell for $4200) forecasts that the market for automotive AI hardware, software, and services will grow from $US404 million in 2016 to $US14 billion by 2025.
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According to principal analyst Keith Kirkpatrick, “Artificial intelligence is not restricted to autonomous driving, however.
“Suppliers and automakers realise that AI can also be used to make life in the car more convenient and personalised, for both the driver and the passengers, in addition to enabling greater automation for a range of areas — including vehicle maintenance, customer service, fleet management, and navigation, among others,” he said.
The top ten uses cases for AI in automotive are also identified:
- Machine/vehicular object detection/identification/avoidance;
- Personalised services in cars;
- Building generative models of the real world;
- Predictive maintenance;
- Localisation and mapping;
- Sensor data fusion in machinery;
- Predicting demand for on-demand taxis;
- Simulating worlds for AI training;
- Automated on-road customer service;
- Truck platooning.
According to the authors, “Today’s advanced call centres and virtual digital assistants make it clear that artificial intelligence (AI) systems — which essentially use data and algorithms to mimic the cognitive functions of the human mind, including the ability to learn and solve problems independently — are rapidly making their way into all facets of society.”
“Not surprisingly, the automotive industry has seen the promise of such technology, and is among the industries at the forefront of using AI to augment human actions and to mimic the actions of humans, while also harnessing the advanced reaction times and pin-point precision of machine-based systems. Both semi-autonomous and fully autonomous vehicles of the future will rely heavily on AI systems.”
They said that AI is not restricted to autonomous driving. “Suppliers and automakers realise that the AI engines can also be used to make life in the car more convenient, for both the driver and the passengers. Natural language processing (NLP) and machine learning techniques make it possible to create in-car assistants that can respond to voice commands and infer what actions to take, without needing a direct command.”
The study makes it clear that both types of systems are on their way into vehicles, although their respective introductions may be made gradually, due to safety concerns, as well as a desire to ensure that the systems work as naturally and as smoothly as possible.
The report provides detailed market forecasts for AI hardware, software, and services in the automotive market during the period from 2016 through 2025. The technologies covered include machine learning, deep learning, NLP, computer vision, machine reasoning, and strong AI.
The forecast covers 15 key use cases for automotive AI, segmented by world region. Profiles are also included for 30 key participants in the emerging automotive AI market ecosystem.