One fine day, traffic jams will be gone. So will accidents and parking problems. Sounds Utopian? Thanks to Artificial Intelligence, it's closer than you think. The concept of AI has been around since the 1950's, but only recently has "Intelligent" computing graduated from science fiction to science fact.
If today's computers can learn as well as calculate, its thanks to three innovations: massive computing power, large amounts of available data and hugely improved algorithms. Ai could be used for many things, but one outcome is surer than most: it will transform the automotive industry. Why? Because it is the necessary ingredient, the required foundation for Autonomous Driving. Without AI no AD.
The fact that Autonomous Driving is already so important to consumers shows the way. 65% would switch brands for better AD functionality, that figure goes up to 90% among young and/or urban consumers.
A company to watch in this space - www.movision.com - Based in Waterloo, Canada (I shared an office with this company as CEO of Uniserve). With the rise of IoT and technological advances in all aspects of modern life, citizens expect their daily interactions with city infrastructure to work in the same efficient and seamless multi media, multi device manner as all other areas of modern life. Citizens are starting to insist on less traffic, on-demand city services, and accessibility for all.
Whether you fear it or embrace it, the Ai. revolution is coming to an Industry near you—and it promises to have an enormous impact on the world economy. PwC estimates that artificial intelligence could add $15.7 trillion to global GDP by 2030. That’s a gargantuan opportunity. To identify which private companies are set to make the most of it, research firm CB Insights recently released its 2018 “A.I. 100,” a list of the most promising A.I. startups globally. China’s Bytedance leads in funding with $3.1 billion, but 76 of the 100 startups are U.S.-based.
Nicholas Jeffery is a Smart City Consultant with Impressario.