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Month: May 2019

Technology trends in the new era of automotive innovation

Technology is becoming ubiquitous in every industry. Today, in this digital age, it’s difficult to find an industry in which technology does not play a major role. The automotive industry with its fair share of ups and downs in the latter half of the century has shifted towards digital platforms in the awakening of shifting consumer priorities, environmental considerations, fluctuating markets, etc. This led to a new era of automotive innovation introducing new trends in automotive electronics such as autonomous driving, in-car infotainment, and all-electric cars.

The cars we now drive have become powerful computer-networked systems becoming a center of communication, providing entertainment, navigation, and connectivity. When anticipating the future in the automotive industry, the car of the future will be more than just a mode of transportation. In recent years, the automotive industry has worked hand-in-hand with major technology companies in order to deliver the most advanced, safest and most comfortable vehicles out there. As consumers demand more connectivity, convenience and safety features in their vehicles, the automotive industry is in an unprecedented era of innovation.

Unlike past periods of innovation in the automotive industry, the coming years will be particularly interesting because of the vehicle software and electrical and electronic architecture. Some critical automotive innovations include Connectivity, Autonomous driving, Electrification, and Diverse mobility.

With the growing demand for technology and connectivity in vehicles, a broadest automotive portfolio has to be included that combines high-performance mobile connectivity with secure device management. The automotive technologies include cellular modems, Wi-Fi and Bluetooth connectivity, global navigation satellite system and high-precision positioning solutions, software and infotainment platforms.

As per statistics, every year, more than 2 million people are injured and more than 30,000 killed in 6 million automobile crashes on U.S. roads. The rise of autonomous cars, which is perhaps, the most obvious and fundamental change facing the auto sector is relatively going to change the world. The widespread adoption of self-driving cars could have a revolutionary impact on the accidents potentially preventing 90 percent of crashes and saving thousands of lives every year. These autonomous vehicles are considered to be a significant part of the future of the automotive industry.

There is a lot of discussion about the evolution of electric vehicles going around in the corner together with what their impact could be. New developments for climate-friendly hybrid and electric vehicles are being supported to help improve performance and drive the green revolution in transportation. Electrified transport, in some form, is the growing interest and seems to be in our future. Consumers will eventually swap their gas-powered cars and trucks for rechargeable models. The automotive industry is expecting 127 battery-electric models to be introduced worldwide over the next five years. Vehicle electrification is a driving force in the ongoing revolution in the automotive industry.

The rise of mobility-as-a-service refers to the shift away from personally owned vehicles towards the use of ride-sharing or mobility solutions on an on-demand basis. As urban millennials are finding car ownership to be increasingly expensive and inefficient and other factors equally impacting them like cost per mile of a shared ride can be 40% lower than driving your own car, ride-sharing as transport is finding more support. Even established automakers like GM, Volkswagen, Ford are banking on the trend offering customized driver experience to the customers.

Augmenting the combination of automation and mobility services, there has been an explosive growth of car-hailing applications observed. The rapid growth of on-demand ride services, as well as car-sharing services, prevents current commuter inconveniences such as traffic and even parking will be reduced considerably. This will further make catching a ride to the destination far cheaper for the commuter. The confluence of all these factors is going to drive the future of automotive innovation marking a new era.

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Women at the heart of digital transformation

Digital transformation has changed every industry across the globe ushering into an era of higher efficiency and productivity across the globe. It has revolutionized the way of serving the customers, improving the competitiveness of the business and further pushing forth its expansion into the global market. Digital transformation continues to be a disruptive force across many industries today. While digital technologies are radically and rapidly changing the way people work, consume, get information and communicate, their consequences, however, may differ for women and men.

We live in an era where about 126 million women have started running their own businesses at a global level and 48% of female leaders are comfortable with cutting-edge technologies such as AI, machine learning and Blockchain. Nevertheless, it’s baffling to see that only 5% of leadership positions in the technology industry are held by women. Women’s participation in the tech sector has been bridging the gender gap making it imperative that women can lead the way in digital transformation.

Imagine running your own startup, advancing in career opportunities that were once limited to high gender or male-centric! Imagine standardizing yourself and your career with an accelerating pace that galvanizes your potential in equilibrium with the male counterparts! Here I am to talk about those successful women leaders who are not only role models but also can be inspiring and encouraging to the women leaders of tomorrow.

Pooja Naidu
Head of Product, FT Group Products, Financial Times

To begin with, we all know that there are only 8 million women in India who are running their own businesses, whereas, only 10% of formal enterprises are being operated by women. This is a manifestation that women still continue to face several underlying hurdles that hamper their full career advancement. Despite everything, here’s the story of Pooja Naidu, who managed to succeed her way leading the path in digital transformation. She is the Head of Product, FT Group Products, Financial Times.

With a significant array of experience for over two decades in retail, media and banking industries, Pooja is now the Director of Product at the Financial Times. A digital leader who drives product teams to deliver high value, market-leading product, has proven leadership skills in product management with Financial Times, Tesco and M&S. Pooja in her current role is responsible for the FT Group Portfolio of products, overseeing over 35 brands and leading the delivery of the GDPR transformation program for FT.com.

Diana Carrasco
Head of Digital Risk, Compliance & Public Policy, HSBC Digital Bank

Diana, who has been working in the Financial Industry since 2002, is the Group Head of Risk, Digital Channels for Lloyds Banking Group. Prior to this, she was the Head of Digital Risk, Compliance and Policy UK & EU for HSBC Digital Bank and served as the Head of the Mentorship programme for the European Women Payments Network (Amsterdam). Diana has held leadership roles in digital transformation for both Visa and HSBC and believes that risk function should always be understood as a business enabler and not a blocker.

Dorota Zimnoch
Founder & Managing Director, Zing Business Consulting

Dorota, an accomplished leader, and an entrepreneur, who reinvents, disrupts and relaunches banking and insurance businesses with the convergence of financial technologies, is the Founder and Managing Director of Zing Business Consulting. She is an international fintech and insurtech expert and the Top50 global influencer with over two decades of experience working with leading financial brands such as Citi, AIG, Alico, MetLife, and 4finance, as well as startups. Dorota has held multiple board advisory positions at companies such as Santander and the Heart Warsaw and has been ranked no.13 on PWC Power Global 100 and no.19 on Women in Finance Power 100.

June Klein
Founder & CEO, Technology & Marketing Ventures, Inc.

The Corporate Visionary’s Most Influential Female CEO USA, June Klein is the Founder & CEO of Technology & Marketing Ventures, Inc. With over three decades of experience in financial technology, June has pioneered digital initiatives at top firms like JP Morgan Chase, Citigroup, and Merrill Lynch and currently runs her own business. She is the former tech advisor to the Bill & Melinda Gates Foundation who has been awarded Corporate LiveWire’s Most Innovative Financial Technologist award.

Winnie Palmer
CEO, Morphosis Marketing Company & Co-Founder, Innovation Nation Limited

Winnie Palmer is an experienced digital transformation practitioner with over 15 years of experience in delivering enhanced customer engagement, productivity and revenue growth through state-of-art digital marketing and operations. She is a Board Member at the University of Greenwich, CEO at the Morphosis Marketing Company and Co-founder at Innovation Nation and has a keen focus on innovation and business performance.

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