1. Increased speed, agility, and competitive advantage
In today’s pandemic-hit economy, speed to market is paramount, and growth in the use of AI is set to increase. Now is a good time for auto manufacturers to get on board.
“To me, it's about competitive advantage,” says David Linton, BDO’s National Manufacturing and Distribution Leader. “The flip side is, if you don't, you're going to be at a disadvantage. There's already enough pressure from lower-cost geographies in automotive manufacturing, whether it's Mexico, Asia, or Eastern Europe.”
He points out that “despite the pandemic upheaval, where supply chains have strained, we must continue with the global economy. And to compete, you must become more efficient and bring more innovative products to market to compete on the world stage. AI is one of the ways that auto manufacturers need to be doing that.”
Shane Weimer, BDO’s National Automotive Retail Leader, echoes a similar sentiment: “It’s hard to overstate the impact of AI on the automotive business model,” he says. “AI-driven systems can provide manufacturers with greater insights into their businesses, enabling automakers to more accurately design cars, manufacture them more efficiently, and bring them to market faster by eliminating guesswork.”
While the supply chains recalibrate, it also gives plants and manufacturers the opportunity to look closer at their business models and strategy and potentially deploy new technology that increases insight and renewed competitive advantage.
This includes creating schedules, managing workflows and maintenance, enabling safety on factory floors and assembly lines, and identifying defective parts going into cars and trucks. It can even speed up data classification during risk assessments and vehicle damage evaluations.
All these capabilities can help manufacturers reduce costs and downtime while delivering better-finished products to consumers.