Business View Magazine | February 2020

7 BUSINESS VIEW MAGAZINE FEBRUARY 2020 OPENING L INES hands with tech giants to make self-driving cars a reality. The Google autonomous vehicle company –Waymo – has already tested its self- driving car for over 10 million miles in harsh environments and real world-scenarios. Other companies such as Tesla and Uber have also put their self-driving cars to test; however, the transformation towards complete automation is not binary. The auto industry is approaching the shift towards autonomous vehicles in a phased manner to allow other relevant sectors to transform parallel with the technology. According to the Society of Automotive Engineers, the level of automation starts from Level 0, representing zero automation and ends at Level 5, which will require no driver’s assistance or intervention. 2020 will see the industry edging closer towards completely driverless cars that will perform all the driving functions without needing any help from the driver. Electric cars There is a growing demand for environmentally sustainable vehicles, and the auto industry seems to be catering to the consumer’s needs. Leading companies have started working at improving the technology, and many of them have already introduced electric and hybrid models at affordable prices. The growth of EVs is driven significantly by the improvements in lithium-ion batteries in terms of cost reduction and capacity enhancement over the past few years. As the capacity of batteries increases further, and the features on cars improve, we will see a rise in the sale of fully electric vehicles. Car monitoring and maintenance Every car needs maintenance from time to time, but many drivers often overlook monitoring their vehicle’s health. Thanks to the advancements in sensor technology, cars have become equipped with health tracking and monitoring tools. A large number of monitory apps and tools are now available to car owners to help them better maintain their vehicles. Remote monitoring and maintenance will rid the driver from shopping at the local mechanic shop every time the check engine light is turned on. With the always on-connectivity and remote access, car owners will be able to reach manufacturers for tech and safety updates without even visiting a repair location. Such tools can also be tailored to help drivers in emergencies such as accidents where they will automatically call for help and share their location with the hospital, manufacturer, driver’s friends, and family, or the relevant authority. Changing consumer demands Customers are heading towards digital channels as their primary information source. A study shows that the internet has become a major