Murali Varmaraja, Oracle Automotive Industry Solution Lead

As the digital revolution accelerates, macro technology trends like “connected…autonomous …shared…and electric” are enabling new experiences. These will disrupt and be a catalyst for significant change that will transform the automotive industry. The case for this transformation is based on changing customer expectations. The question to auto makers is “Are you ready?”

Before You Know It

Think about these stats. 2020 is less than two years away!  Companies are extending their range of products and services with new platforms and ecosystems where digital, AI and data will be crucial.

• By 2020, there will be 20.4 billion IoT devices.
• 70% of value for a product will come from digital sources.
• AI will generate $2.9 trillion in business value.
• There is going to be 5,200 gigabytes of data for every person on earth.
• Autonomous driving cars will produce 1-4 terabytes of data per car per day.
• By 2030, the automotive data industry will be worth half a trillion dollars.

To deal with these changes, a modern car embeds more than 100 Million lines of code and a Vehicle has essentially become a data center on wheels.   Automobiles will provide new customer services enabled by connectivity and data.. Passengers will be able to procure a luxury vehicle as a service, multimode mobility services, pay as you drive (PAYD) and pay how you drive (PHYD) and mileage-based auto insurance.    

To win, companies should start by focusing on the irresistible customer experiences they want to provide, and work backwards towards the technology.   Oracle can help.

Oracle CX for Automotive Connected Innovations

The world of mobility impacts every human being on the planet. The transformations going on enabled by digital technologies are opening doors to new ways of consuming mobility and related services that simply didn’t exist even a few years ago. These transformations are also opening new monetization opportunities that didn’t exist before – opportunities that soon may exceed revenue from sales of core automobiles. We are excited to be agents helping the industry successfully adopt and manage these disruptions. Oracle is enabling OEMs and dealers to provide richer digital-enabled experiences to increase the lifetime value of their customers.

1. Deep Customer/Vehicle Insight with IoT and Driver DNA: Acquire and leverage actionable data and create unique living profiles of prospects, owners, occupants, customer driving habits and vehicles that leverage all in-house data - including IoT and other connected vehicle data. Augment this with the industry’s most comprehensive and highest quality external data that’s based on customer intent and behaviors to secure an individualized ‘segment-of-one’ profile of buyers and users.
2. AI-Powered Personalized Customer and Dealer Digital  Experiences: Leverage deep customer and vehicle insights to orchestrate AI-powered omnichannel innovative digital/AR/VR engagements that help you connect with your customers in unique ways.  Provide value at the right moment across marketing, sales, service, finance, loyalty, warranty, supply chain, and dealer operations to deliver hyper-personalized engagements, offers and services.
3. Vehicle-as-a-Services offers: Create innovative bundles and offers to provide flexible consumption for vehicles, insurance, maintenance services, monitoring, partner offers, and vehicle lifecycle management services. Automate subscription billings and payments processing.

To read more about the Oracle Automotive Industry Viewpoints – Click here

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