Industry in Turmoil
Automakers have been keeping a steady pace of technology innovation and manufacturing excellence for over a century. Since the breakthrough of the highly efficient assembly line, auto manufacturers were in the forefront of engineering innovation, designing and building cars that were successively better, safer and cleaner. For many decades, the industry has been at the center of the US economic development, and, to many, an industrial and social icon.
But over the past decade or so, the iconic and seemingly stable industry has been in turmoil. It has been undergoing massive changes caused by the cumulative effect of rapid technology innovation, disruptive business models, aggressive new competitors, and an emerging supply chain ecosystem whose full impact is not fully comprehended yet.
One of the most profound changes the auto industry is grappling with is the emergence of connected and autonomous cars. Most industry visionaries and practitioners portray a bold vision of a future in which cars, occupants, and cloud-based information and control systems communicate and exchange information in the omnipresent Internet of Things cloud. Cars are becoming part of the Internet, or, in today’s parlance, they are yet additional, if unconventional, “things” in the Internet of Things (IoT). Read More