10-1 Discussion: Reflection Discussion Topic
shemahmark
fianalpowerpoint.pptx
Southern New Hampshire University
December 10,2021
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Internet of things (IoT) Innovation in Automotive
There is a lot of discussion about how the Internet of Things and greater connectivity may impact the present automotive supply chain.
Adopting automotive-specific technologies and services has the potential to boost the industry's long-term viability.
However, the introduction of IoT services may be seen as a disruptive and incremental innovation, changing the market's fundamentals altogether.
Potential risks for discontinuous innovation
Complying with the Law vs Breaking the Law
Consumers and regulators alike expect businesses to identify, manage, and minimize privacy and data security issues associated with cloud computing.
Compliance and risk mitigation procedures must go beyond just complying with regulations, such as the GDPR in Europe and the HIPAA in US healthcare.
This means that you have to be on top of new legislation like GDPR and HIPAA. Consumers want a corperation that is honest and open as to were there data is going to and who sees it and whom hands its in
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Potential benefits for discontinuous innovation
When used for important judgment and decision-making, machine learning remains an intriguing disruptive technology because it eliminates human biases.
This can only be done with a perfectly impartial dataset and model.
Potential risk for incremental innovation Reduce the danger.
Even in a quickly changing market, the failure rate of innovative products is significant.
Developing new technology or doing R&D initiatives, such as those mentioned above, may be risky for many firms.
Well-established systems may increase success rates, but training and commitment are still needed.
Managers are often preoccupied with finding the right balance between risk and market share.
Making minor, consistent progress without jeopardizing the company's budget or long-term viability is attainable with an incremental approach.
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Potential benefit of incremental innovation
Increase product diversification.
When it comes to radical innovation, it's more difficult to get people on board since the concepts, goods, or services are so foreign to them.
People desire new things, but they don't want to learn new things as much as they want new things
To make the transition to new ideas more gradual, businesses should concentrate their efforts and R&D expenditure on incremental innovation.
There is a greater willingness among customers to try out fresh versions of well-known items.
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My competitors' current products and services
Automobiles with Self-Driving Technology (AV)
It is hoped that autonomous vehicles, sometimes known as self-driving cars, would one day eliminate the need for human drivers entirely.
It is hoped that fleets of autonomous vehicles would make last-mile delivery more efficient, minimize downtime, and improve public transit safety in general.
As an example, cutting down on collisions caused by tired or careless drivers would be a good start.
To recognize impediments in their path, AVs are equipped with AI-enhanced computer vision and other sophisticated identification technologies..
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Connectivity
Today's automobiles are equipped with a unique digital identity that makes them stand out from the rest of the fleet.
Data may be easily tracked for a wide range of applications including fleet management and driver safety in addition to insurance.
The exchange of vehicle data benefits the individual client as well as the mobility ecosystem as a whole.
Mobility that is available to everyone
The advent of linked automobiles has given rise to new business models that emphasize shared mobility as an alternative to conventional car ownership.
MaaS is enabled, and unused cars are discouraged.
Such solutions address the needs of a community or a company without the addition of additional cars, therefore lowering fleet waiting times and emissions from gasoline or diesel vehicles.
The company’s capability to pursue the innovation
Automakers and purchasers all around the globe have new options now that IoT has entered the market.
By being used at both industrial and commercial levels, Internet of Things (IoT) in the automotive sector has developed into an important hotspot for a broad variety of multifunctional applications
The internet has had a hug impact on the automobile business, all around the world .
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A partial gap analysis
Other disruptive technologies, including the Internet of Things, are reshaping the whole automobile business.
The development of linked and autonomous vehicles has resulted from advancements in this sector.
Since its introduction, automotive inspection and maintenance have seen significant improvements, as well as the introduction of additional entertainment options.
Large quantities of important data are generated on manufacturing floors, and this data may be utilized for a variety of reasons. However, firms must first collect this data before using it.
Input/output Machine The manufacturing business is about to be disrupted by a technology known as communication.
This technology enables networked devices to share information directly with one another.
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Discontinuous innovation
Large volumes of important data are generated on manufacturing floors, and this data may be put to many different uses.
Between a machine and another In the manufacturing business, communication means using networked equipment to send and receive information directly
technology is expected to upend the status quo. As an example, sensors can keep track of equipment on the production floor instead of relying on workers to do so.
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Conclusion
As a result of the Internet of Things (IoT), product development has undergone radical transformation.
IoT data enables manufacturers to personalize items to particular consumers rather than making educated guesses about what a customer wants.
This extends the production process far beyond the factory floor and into the homes of consumers. A product's sensors may provide data back to the maker, letting them know what features are being utilized, when, where, and in what manner.
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References
Alamalhodaei, A. (2021). TechCrunch is paVolkswagen’s new business strategy puts software and autonomous driving front and center. Techcrunch.com. Retrieved 13 December 2021, from https://techcrunch.com/2021/07/13/volkswagens-new-business-strategy-puts-software-and-autonomous-driving-front-and-center/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAANTbawhLiawVXehHUDJD-K1XjZpc4jDUWb_hbBvMwZN4Mmketp_DbzaSQZHZVLbhpYDIhMwoqZWxNnNUA619se_e5mzWzIqSfLFpliYBGkOxkgA-8MabXhVRvWLXnWtH06g8uUzOtQ-63kaUQk2efZoWQSuDVE3kXTOVuzHD55cc.
Bunch, J. (2018). 3 Ways to make your Organizational Structure more adaptive. Linkedin.com. Retrieved 13 December 2021, from https://www.linkedin.com/pulse/3-ways-make-your-organizational-structure-more-adaptive-john-bunch.
Carleton, S. (2019). What is Incremental Innovation?. Northeastern University Graduate Programs. Retrieved 13 December 2021, from https://www.northeastern.edu/graduate/blog/what-is-incremental-innovation/.
Technavio. (2019). Top 10 Connected Car Companies 2019 | Global Connected Car Market. Technavio. Retrieved 13 December 2021, from https://blog.technavio.com/blog/top-10-connected-car-companies-leading-global-connected-car-market
