Disruptive Innovations in the Auto Industry
Technology within the auto industry is changing the way organizations operate. Anudar Hannibal, who is the Managing Director at Curve Eight, a division of 1886 Ventures, is working to discover, validate, and develop sustainable and innovative technology for this industry. Over her 25 year history working for Mercedez-Benz, she’s seen a significant amount of innovation come into the industry and revolutionize it.
The Importance of Digitization
All of today’s most important innovations rely on digitalization. The traditional players in the automotive market build cars. They are not software companies, and that means they don’t have the working components to implement digitalization as quickly. As a result, organizations need to have partnerships in order to remain competitive in this industry. These collaborations are critical to the changes being found in the automotive industry.
This disruption in the industry is likely to weed out many organizations. Those that are able to be flexible and collaborate with software and tech leaders are those that are going to maintain their position in the automotive field because it is too expensive and too time consuming to develop these solutions on their own. When organizations focus on their core competencies and partner with others in a collaborative fashion, bigger and better outcomes are possible.
Overcoming the Challenges
Technology is always going to have some level of pushback. Even the seatbelt was thought of as a bad investment when it was first launched decades ago. Organizations will likely experience some level of pushback as they move to incorporate new technology, and that is something that has to be considered as they move forward.
Organizations that work to fight against disruption are likely to be held back, but those who listen to consumers and learn about new technology are likely to be in a win-win situation instead.
There’s also the need to educate, especially when it comes to new technology in the hands of consumers. Consumers don’t know what they need and want because they have no experience with the new tools, just like they didn’t know they needed an iPhone until they were launched. For that reason, educating consumers is critical.
