Subscribe / Unsubscribe Enewsletters | Login | Register

Pencil Banner

The rise of driverless cars underpinned by data

Alister Lee | Dec. 14, 2015
Driverless cars are poised to be unleashed onto our roads and change the traditional car ownership model forever.

Just as banks are evolving from financial institutions to software companies with a banking licence, and the hotel industry is being redefined by the likes of AirBnB.

The car industry of the not too distant future will look very different to what it does today. Traditional car manufacturers like Mercedes, Ford and Toyota are being challenged, and their greatest competitors could become Google, Microsoft and Facebook.

This tide of disruption not only affects individual industries, but related businesses as well. The driverless car is not only poised to revolutionise the automotive industry - it will profoundly change downstream industries such as car finance and insurance, parking, repairs, maintenance and fuelling.

The ripple effect will spread also to road infrastructure and design. How many buildings will need multi-level car parks if driverless cars are continuously on the road? The secondary effects and multiplied economic consequences of a change such as the emergence of driverless cars are profound.

So what lessons should technology decision-makers outside the car industry learn from these developments? Data will drive disruption in your industry.

Understand what the equivalent of driverless cars are in your industry. Identify the opportunities that data disruption can deliver - in your industries and downstream - and develop plans to take them when they arise. Capturing data and using analytics to gain insights is integral to this process.

Alister Lee is GM, analytics at InfoReady

 

Previous Page  1  2 

Sign up for MIS Asia eNewsletters.