Driving the Future: How Generative AI is Transforming the Automotive Industry

June 10, 2023

In a groundbreaking development, Generative AI has emerged as a transformative force within the automotive industry, revolutionizing the way vehicles are designed, manufactured, and experienced. A recent article by Sarwant Singh, President (Europe) and Chief Commercial Officer, MarketsandMarkets™, published on Forbes.com, explores the various use cases of Generative AI in the automotive sector, highlighting its immense potential to reshape the future of mobility.

The article further sheds light on the remarkable advancements made possible by Generative AI. Singh highlights how this cutting-edge technology has the power to bridge the gap between digital pixels and physical reality, paving the way for unprecedented innovation.

“Generative AI tools comprising large language and image AI models have burst open a world of possibilities for the content creation industry. Among them, automated content generation, improved quality, variety, accuracy, and relevance of content, and enhanced content personalization. Generative AI models will leave no area which involves content creation – be it marketing, software, design, entertainment, or interpersonal communications – untouched,” said Sarwant Singh.

The article also emphasizes the significance of Generative AI in shaping the future of the automotive industry. By embracing this technology, companies can redefine the boundaries of innovation, creating safer, smarter, and more sustainable vehicles. Generative AI can create virtual worlds and imitate real-world circumstances by using algorithms to produce new information, such as photos, videos, and even text. This enables autonomous vehicles to learn and adapt in a secure setting.

MarketsandMarkets™, in its recent study on the rapid development and evolution of artificial intelligence (AI) and emerging AI-based business models, estimated $87 billion worth of opportunities in 2022, which is expected to reach $407 billion by the end of 2027.

In order to discuss the emergence of AI-based business models, MarketsandMarkets hosted roundtable discussions with some of the esteemed stakeholders and industry experts in the AI ecosystem. Based on these discussions, a whitepaper titled, ‘Emergence of AI-based Business Models – Orchestrating the Next Big Shift in Enterprise AI Adoption,’ was created, which offers crucial findings into how AI is transforming business models in a variety of sectors, including healthcare, banking, and retail.

To learn more about the emerging AI-based business models and use cases, download the whitepaper: https://www.marketsandmarkets.com/mega_trends/artificial_intelligence

To learn more about the revolutionary impact of Generative AI in the automotive industry, read the full article on Forbes.com: https://www.forbes.com/sites/sarwantsingh/2023/05/17/from-pixels-to-pavement-generative-ai-use-cases-in-automotive-industry/?sh=67de68e17666.

About MarketsandMarkets™

Founded in 2010, MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive growth for progressive organizations in the B2B space. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

In March 2023, Forbes recognized MarketsandMarkets as one of America’s Best Management Consulting Firms.

To know more, visit: http://www.marketsandmarkets.com/

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