Important Industry Trend to Watch

According to a recently published global survey, machine learning (like autonomous driving) and telematics will more than likely overtake the industry as a leader of innovation in years to come. 81% of respondents are already using (or plan to use) these technologies. Are you one of them? Here’s what you need to know.

What is autonomous driving?

Auto-steering and self-guided equipment has already been making waves across the industry at an international level. Machinery can now be operated safely without having to physically touch or be present with the technology itself. And although the self-driving car movement is mired in legislative issues, autonomous driving of machinery is often conducted on private land which doesn’t require the same precautions and regulations needed for more crowded, public locales.  

What is telematics?

Telematics allows the computers inside equipment to transfer their collected data to a place where that it can then be stored and viewed via the internet or cloud. Telematics has already revolutionized the automobile industry, creating conditions for safer roads and more accurate underwriting for insurance. So far, this technology seems to have excellent potential for improving our industry too.  

How autonomous driving and telematics are shaping our industry

  • Autonomous driving. Although there are serious concerns regarding cybersecurity and software malfunctions, for the most part autonomous driving equipment is solving major issues for customers (like labor shortages) that otherwise had no viable resolution on the horizon.
  • Improving vendor collaboration. Telematics gives dealers a way to measure ROI for their customers so they can better align with their own goals. Maximizing the information they have about their business is a major win for clients.
  • Save your employees time. Cut labor costs by integrating these technologies into your business as a whole. Essential tasks (like record keeping) that were once entered manually can now be automated.
  • Prevent lost assets. Non-powered equipment can be tagged and traced with the help of apps.
  • Manage teams wisely. Data like operator experience, weather notifications, and change in project supervision can all be read, analyzed, and assessed by AI to give you educated advice on project restructuring or delays where needed.

And these are just a handful of examples of what autonomous driving and telematics can do! As this technology continues to improve and evolve, look for new ways in which it can help your business.

Even if you’re not interested in adding this trending technology to your business quite yet, it is important to at least have a reliable software in place. ASPEN’s Business Management Solution offers forward-thinking dealers and managers advanced tools for better business practices you can implement today.