Last month ARS participated in the Automotive Intelligence Summit a first-year event presented by Cherokee Media; the publishers of Auto Remarketing and the presenters of Used Car Week.
We were excited to participate in the conversations surrounding the practical uses of the huge amount of data currently being collected from the automotive marketplace by operations, enterprises, and users of every type.
A conference that we attended for its focus on Data Intelligence and Predictive Analytics gave way to a much larger discussion about vehicle consumers, user behavior and the future of car buying and usage.
IBM presented a pretty compelling narrative about the ‘Disruptive Forces’ shaping the auto industry. The breadth of the list is interesting. It was also clearly apparent that for the future for the first time in the last 20 years the biggest influencer into the marketplace isn’t the manufacturer or oil prices its consumer connectivity. Other disruptive forces at work (to name a few):
- Artificial Intelligence
- Cloud Computing
- Cyber Security
- Internet of Things (IOT)
Automakers, Dealers, Insurers, and Repairers are taking transformative steps to prepare for a fast-moving future.
The conversation on autonomous vehicles was very interesting and the near future presents some interesting changes.
One of my favorite presentations was an economic overview by Mike Wall of IHS Markit he carefully arranged the inside and outside forces at work on the automotive marketplace. I especially appreciate the way he handled the uncertainty about tariffs and potential policy mistakes in the market that may be due for a correction.
The crowd was a cross-section of executives, data scientists, and analysts. The insights presented by this group were focused and well delivered.