Artificial intelligence technology is changing the future of many industries. Global companies spent over $328 billion on AI last year. This figure is expected to grow as more companies recognize the potential and decide to increase the resources they dedicate to machine learning and predictive analytics tools. The automotive industry is among those investing in AI the most. The industry is going to increase expenditures on AI technology for the foreseeable future.

Why it matters: You cannot talk about technology today without tripping over artificial intelligence (AI). Literally every conversation, in every corner of tech, the topic pops up. We agree that AI is useful, and important, but we also think it worth periodically taking some time to decode what everyone is talking about. Editor's Note: Guest author Jonathan Goldberg is the founder of D2D Advisory, a multi-functional consulting firm. Jonathan has developed growth strategies and alliances for companies in the mobile, networking, gaming, and software industries.

Machine learning is taking the automotive industry to a new level by improving user experience and leveraging the power of big data. Most manufacturing operations in automotive industries are still largely dependent on experience-based human decisions. The emergence of Big Data, in conjunction with machine learning in automotive companies, has paved a way that is helping bring operational and business transformations, thereby leading to an increased level of accuracy in decision-making and improved performance. The automotive industry continues to face a dynamic set of challenges. Shifting market conditions, increased competition, globalization, cost pressure and volatility are leading to a change in the market landscape. Self driving cars and changing usage models have heightened customer expectations.

As humans, we have given our best into critical thinking to improve our lives, bringing us into the age of information and communication technology. We have also devised means and ways to prolong and save human lives from unforeseen circumstances and cut back on response time to emergencies. This perhaps is why life expectancy has improved for people, especially in developed nations. In recent times, we are using technology to improve our healthcare and general wellbeing. So, this is to let you get a glimpse of some high-techs we [humans] have developed, already in the works, or need to establish that can save more lives and further improve our general wellbeing.

Paris, March 26, 2019 – A new study from the Capgemini Research Institute has found that just 10% of major automotive companies are implementing artificial intelligence[1] (AI) projects at scale, with many falling short of an opportunity that could increase operating profit by up to 16%. The research also shows that fewer automotive companies are implementing AI than was the case in 2017, despite the cost, quality and productivity advantages, many report it delivering. The "Accelerating Automotive's AI Transformation: How driving AI enterprise-wide can turbo-charge organizational value" study surveyed 500 executives from large automotive companies in eight countries, building on comparable study from 2017, to establish recent trends in AI investment and deployment. Scaling of AI has seen a slow growth: Since 2017, the number of automotive companies that have successfully scaled AI implementation has increased only marginally (from 7% to 10%). However, more significant was the increase in companies not using AI at all (from 26% to 39%).

Hyundai, the South Korea based automotive company, unveiled its latest innovation this week at the Consumer Electronics Show -- a car with legs. The vehicle, dubbed Elevate, can walk and climb in addition to drive, and is geared toward aiding emergency responders in tough-to-reach areas after a natural disaster. "The legs have five-degrees of freedom. So, these legs can walk in mammalian mode and reptilian, and that really makes it omnidirectional," David Byron, manager of design and innovation at Sundberg Ferar, a company working with Hyundai on the project, told Fox News."It can go anywhere, it can drive like a regular car but when it gets to a situation where a normal wheeled vehicle reached its limit, this can standup -- crawl over various terrain." Although the concept sounds intriguing, John Suh, vice president and founding director of Hyundai CRADLE -- the company's corporate venturing innovation business -- stressed there is no timetable for actual production.

The government has unveiled a new £30 million fund to help get driverless cars on the road. Chancellor Philip Hammond vowed to bring fully-autonomous vehicles to the UK by 2021 in his autumn budget last year. The latest multi-million round of funding is designed to speed-up the roll-out of autonomous vehicles by supporting technology and automotive companies developing driverless systems. Companies will have to bid for the funding, Business Minister Richard Harrington announced today. Of the £30 million total, the government has set aside £5 million to be awarded specifically to projects building cars that can park themselves.

What opportunities does AI open up for mobility, and how can OEMs capture them in the short and long run? For more than two years now, the automotive industry has been talking about four disruptive and mutually reinforcing major trends--autonomous driving, connectivity, electrification, and shared mobility. These trends are expected to fuel growth within the market for mobility, change the rules of the mobility sector, and lead to a shift from traditional to disruptive technologies and innovative business models. Artificial intelligence (AI) is a key technology for all four of the trends. Autonomous driving, for example, relies on AI because it is the only technology that enables the reliable, real-time recognition of objects around the vehicle.

How can companies identify--and source--the technologies that will be critical for crafting a strategy to keep up in the shifting automotive landscape? The automotive industry is in the early phases of what is expected to be rapid and fundamental change. Technology is the key to further penetration of all these trends, as well as the developing business models that allow companies to capitalize on them. The industry players--traditional automotive companies and new entrants alike--that identify and secure those technological resources will be best positioned to benefit in the new mobility landscape. Thus, industry players need to think about sourcing underlying technologies rather than acquiring single products or services.

The age of Knight Rider is upon us. As the Internet of Things (IoT) revs up the automotive industry, connected cars are becoming "devices on wheels" with in-vehicle systems connected to the Internet. At the same time, car manufacturers and software companies are redoubling their efforts to bring automated cars into widespread use. For example, Volvo announced a partnership with Microsoft to develop driverless cars for the consumer market. IoT not only will bring in new vehicle technologies, but also will completely revolutionize the car industry.