4
Shared Mobility
With connected vehicles , new business models have come up that focus on shared mobility as an alternative to traditional vehicle ownership . This enables mobility-as-a-service ( MaaS ) and discourages unused vehicles . Such solutions meet the requirements of a city or a business without adding new vehicles , thus reducing waiting time for fleets and pollution caused by petrol or diesel vehicles .
6
Automotive Usage Based Insurance ( UBI )
Insurance companies are starting to utilise data to improve their pricing policies and to reduce risk . Automotive usage-based insurance ( UBI ) is a sort of motor insurance that considers factors such as the category of vehicle used , overall distance travelled and the background of the driver among other things . The rise of automotive UBI will ultimately promote safe driving behaviour to reduce crashes , which in turn will assist insurance companies to reduce claims payout and improve their bottom line .
8
Human-Machine Interface
As self-driving cars and connected cars transform the automotive landscape , it will fundamentally change how drivers interact with vehicles . Human-machine interfaces ( HMI ) use voice-based or haptic feedback to operate vehicles . These expand the scope of how and what aspects of a car that the user controls . Such interfaces certainly make the driving experience safer and more enjoyable . Another form of HMI includes smart virtual assistants who help drivers and riders interact with the vehicles and other service providers .
5
Robotic Process Automation
Robotic process automation ( or RPA ) is an emerging form of business process automation technology based on the notion of metaphorical software robots or artificial intelligence ( AI ) workers . Practically speaking RPA can be used in fleets to automatically purchase , finance and register vehicles , order and manage fuel card , manage toll road and fines / infringements payments , as well as fast-track insurance claim processing times .
7
Big Data & Data Analytics
In the age of big data , advanced data analytics informs various decisions throughout the lifecycle of a vehicle . Data gathered from vehicles enables predictive maintenance , informs managers about their fleets , and alerts concerned authorities in case of accidents .
9
Additive Manufacturing
3D printing helps the automotive industry in a couple of primary ways . Firstly , it enables rapid prototyping with 3D printed models to speed up the design and testing phases of production . Additive manufacturing using composite materials leads to automotive parts that are lighter , stronger , and more durable .
10
Improved Car-Buying Experience
Most of us agree it ’ s pretty stressful to buy a new car , and that gets even harder when you ’ re buying 10 or 100 cars in one go . Luckily , new technologies are making the buying process easier . Toyota ’ s augmented reality system requires no app and allows users to get to know certain car models without ever setting foot in a showroom , while Audi ’ s VR experience allows users to configure car models of the future . On the other side , virtual showrooms also allow dealers to save money by reducing the amount of space they need to hold their available models . It ’ s a win-win .
ISSUE 25 OCTOBER 2020 / WWW . AFMA . ORG . AU 21