AI in the transportation market is anticipated to grow at a CAGR of 12.1% during the forecast period (2024-2031). Using AI and Machine learning will help to reduce accidents and will be easier to use for logistics, accidents at night, which is a major concern globally can reduced by using AI which will help drivers. AI-powered trucks can anticipate truck health and traffic conditions, which help to keep the record of accomplishment and will reduce transportation time. After Tesla, Tata is and other manufacturers working on AI and ML, which is a big opportunity for commercial vehicles. AI is also used in Airplanes as a co-pilot and soon government is planning to use it in trains just like metro, which will improve the quality of travelling and technological advancements.
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New Opportunities for Transportation in AI segment
- Xpeng will invest 3.5 billion yuan ($486.36 million) in AI research; Xpeng plans to release around 30 new products or revised models within three years. Xpeng’s expansion plans contrast with rivals, which are racing to slash costs. Volkswagen in July would invest in Xpeng and will purchase some amount of stake in company.
- Companies like Manga international collaborated with Cartken to manufacture fleet autonomous delivery. General Motors collaborated with NASA to develop lunar rover and Robonaut 2.
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- Artificial intelligence and machine learning promise to unlock greater efficiency and improve decision-making in the freight transportation industry, but implementing AI functions is not easy, trucking executives said, transportation companies are collecting and storing data, which will use in future in AI formation and automation which will help to make better and complex AI tool executives said.
Market players such as Tesla, Volvo, Daimler, Scania, Paccar, Peloton, Valeo, Xevo, ZF, Zonar, Bosch, and many more are working on AI-driven cars which bring evolution in automation, AI and EVs will work hand to hand after Tesla, Waymo, Ford, Volkswagen Group and other giants are working for the same. In commercial vehicles Magna International, Motional, General Motors, ABB, Refraction AI, Starship Technologies, Kiwibot, Yandex are working for AI and EV automation, which opened opportunities for automobile companies and technological advancement.
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