Generative AI + Automotive
The potential of Generative AI in the automotive sector is vividly depicted in this illustration from the IAA Mobility 2023 presentation.
Exploring the Power of Generative AI in Automotive - Conference - Main Stage - IAA MOBILITY 2023 (https://www.youtube.com/watch?v=f1Emp-SjDvk)
According to a report from Precedence Research, the market for Generative AI in the automotive sector is expected to grow from $312.48 million in 2022 to $2.7 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 24.03%.
A sizable chunk of the growth in the automotive sector growth will stem from the "process" elements within the automotive value chain – enhancements in supply chain, logistics, and inventory management, along with innovations in automotive design.
However, significant opportunities will present in Autonomous Driving.
For instance, Generative AI, particularly the use of Neural Radiance Fields (NeRFs) in conjunction with Structure From Motion (SfM) algorithms, is currently being utilized to create autonomous simulation environments from a few pictures or videos. Generative AI can also enhance aspects such as spatial awareness, decision-making, and control capabilities.
I find this application of Generative AI in the automotive industry fascinating due to its potential.
As an enthusiast who enjoys automobiles, it aligns with my deep passion for cars and cutting-edge technology, particularly autonomous vehicles. Moreover, it presents significant business opportunities in what is likely to be a growing market.
The intersection of these three pillars—personal interest, technological innovation, and market potential—is not only exciting but also truly compelling to me. These factors are part of the motivation behind AugustMille.
AugustMille is currently engaged in several projects in this area, notably using NeRFs and other algorithms to address real-world practical issues. More information will be provided as the work progresses.
Are you in the auto industry, inundated by claims that AI + ML + 8K + 5G will "revolutionize" your field?
Are you more interested in truly delighting your customers than in the technology used to do so?
Reach out at hello@augustmille.com