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Case Study on Innovative Tech Solutions for Automotive Industry

Posted on by Shipra

Innovative Tech Solutions for Automotive Industry

The automotive industry will need to adapt the advanced technologies, due to rapid disruptions in this sector.  Digitization plays a crucial role in the automotive industry and its processes. It equips the interior suppliers with necessary tools and helps them remain flexible and relevant in this modern era. Digitization in automotive manufacturing could make companies improve their competitiveness while setting a strong foundation for future growth in a steadily evolving manufacturing landscape. 

Introducing Blockchain in Automotive Industry

Blockchain has the potential to play a major role in underpinning the industry transformation that is coming. The technology promises more transparency to the industry’s operations by helping car manufacturers and their partners forge long-lasting and trustful relationships with customers.

“Blockchain technology itself is not the end-all solution,” explains Chintan Thakkar, Head of Distributed Ledger and Emerging Technologies at the SoluLab Inc.

Blockchain-based solutions like ‘VerifyCar’ offer a cure for this problem. This app, currently being piloted, could enable users to track and verify the complete vehicle history, and share data – like the mileage – with third parties. It could even be used in conversation with the seller: “As a potential buyer, I could use the ‘VerifyCar’ app on my phone to scan the QR code in the seller’s app.

‘SoluLab Inc’ is pursuing blockchain-based pilot projects that make the path of minerals traceable. The first question is: How can we physically prevent a material from being replaced or mixed? This is done using traditional methods such as barcodes and seals – but also with innovative techniques like chemical tracers. These are chemical additives that are added to a batch of material to make it individually identifiable and machine-readable with a scanner.  Blockchain can be utilized to improve process efficiencies across the supply chain and back office, including knowing our supplier (KYS), provenance/trace and verify parts, connected supply chain and targeted recall. 

Blockchain has likely to have a bigger impact in the automotive industry when combined with other technologies such as the ‘Artificial Intelligence/Machine Learning’ and ‘Internet of things’.

Opportunities with artificial intelligence and machine learning

From parts suppliers to vehicle manufacturers, service providers to rental car companies, the automotive and related mobility industries stand to gain significantly from implementing machine learning at scale. Autonomous driving has been the central concern of the automotive industry for quite some time. This revolutionary concept wouldn’t be possible without the help of Artificial Intelligence. 

Vehicles have everything it takes to drive us around, except for a brain. Providing them with one, or with artificial intelligence, could make them smart enough to need a driver no longer. However, this is a task that even modern computer programs can’t deal with. AI allows vehicles to learn, and that’s what driving requires.

Cross-traffic detectors, blind-spot monitoring, and the emergency braking are only some of the features that such assistants provide. They can even take emergency control of the vehicle if needed to avoid an accident.

AI based predictive analytics models can continue to learn from thousands of performance data points collected from manufacturing plants, suppliers, service providers and actual vehicles on the road. Predictive maintenance helps increase customer satisfaction and brand reputation, while also improving compliance with recommended maintenance.

AI Based Predictive Maintenance and Analytics

Insurance companies can embrace AI technology to helps in making risk assessments in real-time. Something very convenient for customers is its ability to file claims when accidents occur. The technology can create drivers’ risk profiles based on their risk factors.

It can predict drivers’ behavior based on their previous actions. AI can identify any personal issues that might affect their ability to drive safely. Furthermore, insurance companies can provide their customers with auto apps that would assist drivers in case of an emergency.

Automotive IoT (Internet of things)

The term ‘automotive IoT’ refers to embedding IoT technologies into automotive systems to create new applications and solutions which can make vehicles smarter and more intelligent, facilitating safe, efficient and comfortable driving.

IoT technologies are used in the automotive sector to  create innovative and advanced solutions, including  connected car solutions, Advanced Driver-Assistance Systems (ADAS), in-vehicle infotainment systems, navigation & telematics solutions, predictive maintenance solutions, Vehicle-to-Vehicle (V2V) applications, Vehicle to Infrastructure (V2I) applications, and Vehicle to Everything (V2X) communication applications.

ADAS (Advanced Driver-Assistance Systems) is an umbrella term used for various types of active safety systems in vehicles which allow drivers to take timely control of the vehicle by alerting them of potential hazards on the road. Some key ADAS features include Adaptive Cruise Control (ACC), Lane Departure Warning Systems, Collision Warning Systems, Blind Spot Detection Systems, Night Vision Systems, and Parking Assistance Systems.

Smart apps are being baked into vehicle infotainment systems to provide in-car navigation, telematics, and entertainment. Such infotainment systems will support a range of apps, including Google Maps, Google Assistant and several apps from the Play Store. Similarly, Apple CarPlay is offered as a feature in a number of mid- to high-end cars.

Drivers are further protected, thanks to advanced sensors that can monitor surrounding traffic patterns and the environment to ensure safe driving and with the use of mesh networked cars on the road, onboard systems can predict and avoid collisions far in advance of actual occurrences.

Security, Surveillance and Safety Via IoT

The car cameras or IoT connectivity in the car can spot advertising along the road and provide it to drivers. The content is automatically synced between the car’s console and the driver’s mobile app. (Note: it can be simply a mobile app, and doesn’t absolutely need the car’s console.) In exchange for engaging with the received content, drivers are awarded points toward rebates on their monthly car payments or in the form of actual cash payments to the driver.

These offers are for restaurant deals, shopping discounts and many other consumer engagement opportunities. They are all stored in a White-labeled App that is branded for the automotive manufacturer.

HMI is mentioned as one of the seven trends that will reshape the automotive industry by 2030. Some of the rest include self-driving, connected vehicles, and e-mobility. HMI connected cars are currently in a transition phase. To get a glimpse of the future, we’ll share some human-machine interface trends that are leading us to more intuitive connected vehicles.

The Internet of Things along with other disruptive technologies is revolutionizing the complete automotive industry.

Reimagine Your Asset Management With Blockchain And IoT

Posted on by Shipra

Technologies like Blockchain, AI and IoT are making the industry watch opportunities in a way which is incomparable to the traditional / existing methods. Blockchain and IoT have helped most of the industries to make all aspects to be interactive and to ensure maximum participation and involvement of the people involved in it.  With the ideal method to be communicated and secured, many industries are realizing the importance of blockchain systems and IoT to make their industries reach the perfect platform for their audience, customers or consumers. IoT has many features which make it the priority and the desired system to be adopted for interaction and communication. It includes smart asset management with blockchain and IoT.

IoT Smart Asset Management Solution Typically Comprises The Following:

  • Remote Asset Tracking
  • Asset Health/Condition Monitoring
  • Asset Workflow Automation
  • Predictive Asset Maintenance
  • Asset Lifecycle Management

These features could be the fastest pace in reaching the audience, low cost, widely spread all over the world, wide storage capability and obviously a machine could work more efficiently than a man could.

Now the industries which involve storage of assets and perishable goods. Hence, it is important to be more concerned for the capital as compared to the need of being careful in any other industry. Asset management of industries requires proper tracking as well as all the goods to be carried through different filters and customs in a secured way. This, in turn, requires a proper system for the security and tracking of the goods. 

Asset Management With Blockchain And IoT

Perhaps the only and the greatest challenge to blockchain and IoT implementation is the lack of understanding of the technology by businesses. However, early adopters of these technologies, are finding great value in implementing blockchain solutions. Smart asset management with blockchain and IoT is bound to bring massive benefits. Look at them!

  • Maintaining the consistency in the flow

While the processing of an asset to be stored properly or any information to be reached to its concerned users on time, everything needs to be tracked on time with proper specifications. These specifications may include GPS location and weather tracking. 

  • Providing asset management solution

There are many successful companies that have set up their own factories that contain numerous machines be it a bigger one or a small one. What is needed to be kept in mind is the usage of each machine. That means if the machine is over or underutilized and further process for its maintenance. Also tracking its life and up-gradation process and where is it kept and is the location suitable for the machine is also some bits of information that is needed to be maintained on a timely basis.

  • Managing the asset

In any business, there is a need to manage variety of assets. These assets could be human or non-human, moving or non-moving, on-premise or field asset. Depending on its type, an asset is maintained accordingly. Workers and staff, gas pipelines, cylinders, and other machines, rental cars and trucks are some examples of assets that are required. All these assets come with different challenges. 

  • Replacing the existing and traditional methods

Gone are the days spent with tiring traditional old-fashioned machines and the hardcore workforce and assets that are now outdated. Every industry that has an asset to be procured needs all the current and ni-fashion assets to be maintained. IoT and blockchain have got our back and has dubbed a system with all the transformation according to the rapidly dynamic environment. IoT has enabled the monitoring device to track the life cycle and maintenance of the assets and control its processes. This ultimately is offering far more advanced procedures and enhancements as compared to the traditional ones.

THREE Advantages Over Traditional Methods

Obviously, IoT and Blockchain bring about a change in the whole process of asset managing in the industries. It influences three main aspects; they are:

  • Automation

Before this technology coming to trend, it was the human who has to decide all the procedures manually. This ultimately created a demand for the expert for performing many of the functions. With new technology, it’s the automation that does all the work on its own without much help of human experts.  

  • Innovation

Using the machines and its progress and procedures in a smarter way will not only help in opening new boundaries for the machine to be tested for different tasks but will also help in connecting workers or human beings to the machine in order to make the tasks simpler and faster than ever before. Also, it will make the facing common challenges easily and readily.

  • Digital transformation   

As the digitalization has almost taken over the market and many of the industries, it is important to keep in pace with all the competitions in the way. Transforming digitally the work being done in the company is way easier now than it seems. With smart devices, it is easy to track the entire information about the current assets or assets that were in use previously.

Over To You – Reimagine Smart Asset Management With Blockchain And IoT

Asset management with Blockchain and IoT

It is not so far, the time when even the machines could talk to a human and would be able to work on the command given by the bosses. But before that, how about experimenting with our very own and helpful IoT and blockchain? Asset management was never given a priority till now. But soon the time will change. Organisations will spend efficiently without any discrepancies in the way of managing the assets. We all are aware of the responsibility that comes with purchasing the assets. But then, why to worry when we are also blessed with the rescuers on our command. Do let us know how Blockchain and IoT going to affect the asset management in your perspective!