Big data has revolutionized nearly every industry around. From more obvious applications in media and advertising, where it is used to predict trends and examine audiences, to more subtle ones, such as healthcare or energy management, in which large quantities of information are applied in exploration of the biggest challenges we face nowadays. Automotive industry isn't an exception when it comes to big data, its analytics and IoT. They are used in many steps of a car manufacturing and marketing process. Yet, doubtlessly, the most nifty thing automotive companies can do with their vast data is invest into manufacturing, testing or use of autonomous vehicles.
According to one of the first large reports on the automotive AI companies by MarketsandMarkets, this industry's worth was expected to reach USD 10 Billion by 2025. More recent statistics have been showing even higher numbers. For example, researchers at Global Markets Insights (2019) predict an increase from USD 1 Billion in 2019 to USD 12 Billion by 2026. With pretty much all major IT companies and big manufacturers confident in the inevitable success of such vehicles, it seems a safe bet. As the famous computer scientists Qi Lu said in his interview to Wired: “In autonomous systems, the car is the first major commercial application that is going to land.” Automated cars are a futuristic sci-fi technology worth developing and investing into. And our teams at Label Your Data are here to help.
A Look Under the Hood
So how does it all work? When driving, we use many of our senses and complex processes, sometimes without even realizing it. We use sight to notice switches of the traffic light, employ spatial understanding to position the car on the road and keep it in a correct lane. We use sound to understand how close other cars are and memory to recall a road sign. When building an autonomous vehicle, developers want AI to understand all of these processes too, besides to be able to process, train and learn from its mistakes.