Jasper, a global Internet of Things (IoT) platform leader, hosted a panel of industry leaders from AT&T, ChargePoint, GM and LoJack for a discussion on IoT’s role in the acceleration of Connected Car innovation across the ecosystem. The group, which gathered yesterday in downtown San Francisco, shared insights on the state of the Connected Car industry and how IoT is enabling companies across industries to create an ecosystem of high value, revenue generating services around the connected vehicle.
“Over a decade ago, the auto industry was one of the first to recognize that a manufacturer’s relationship with their customer doesn’t have to end with a product sale. Introducing safety and security services enabled them to stay connected with customers long after they drove off the dealer’s lot,” said Macario Namie, Jasper’s Vice President of Strategy. “Since then, with the widespread growth of IoT, Connected Car business models have undergone a significant transformation. The car has become a hub that enables the delivery of a host of new, dynamic services – from in-vehicle Wi-Fi to the location of electric vehicle charging stations to stolen vehicle recovery – throughout the car’s lifetime. Last night’s panel pulled back the curtain on the scope and scale of these initiatives as well as how players from multiple industries are collaborating to make the promise of the Connected Car a reality for customers worldwide.”
The discussion, moderated by Namie, included a distinguished group of panelists:
- AT&T – Win Williams, Vice President, Internet of Things (IoT) Solutions
- ChargePoint – Ajay Agrawal, CTO
- GM – Steve Schwinke, Director, Advanced Development and Concepts, Global Connected Customer Experience
- LoJack – Emad Isaac, Senior Vice President and CTO
Panelists shared the lessons they learned from successfully deploying IoT services that fulfill customer needs and enhance the driving experience. As leading innovators in the Connected Car ecosystem, they examined critical hurdles facing the industry, such as identifying the killer app to drive mass consumer adoption of connected vehicles, and offered predictions on the trajectory of Connected Car innovation.
Primary takeaways from the conversation included:
- The Internet of Things isn’t about things, it’s about service. “The Connected Car industry is a perfect example of how, with IoT, products become a means to a much bigger end,” Namie said. “By embedding connectivity into vehicles, companies can deliver an array of new services and experiences that enable them to provide greater value to the driver while introducing new revenue streams.” Agrawal likened the profound impact of the Connected Car to that of the smartphone, radically shaping the next generation of consumer mobility and interaction. “Software is transforming the car in the same way it changed the phone; turning what was once a static experience into a personalized, smart and responsive one,” he said.
- Consumer adoption of connected vehicles won’t be achieved by one “killer app.” Rather, the key lies in leveraging platforms to create a “frictionless” driving experience, according to Williams. Other areas that must be addressed as consumer adoption of the Connected Car increases include a layered approach to security, longer device and sensor battery life and lower connectivity costs. “There is no one killer app; it’s the aggregation of everything. It’s not one thing; it’s all,” Williams said. “That’s what makes it exciting. There’s a little bit of something for everybody.”
- Security will be a key issue as connectivity generates increasing amounts of data – and companies need to move from reactive to preventative approaches. “As long as there’s a lock, there’s going to be a lock pick. A security perimeter is not good enough anymore,” Isaac said. “It’s more about knowing when you’re going to be hacked and reacting to it, and then moving from the reactive to the proactive state.”
- The industry will see strong growth in the next five years, as most new vehicles will be connected in some way. Increased access to vehicle data will generate insights into the ways drivers interact with their vehicle, allowing Connected Car companies to tailor features accordingly for an enhanced customer experience. “It’s all about personalization. When you get a new car, you want to make it your own. People’s love affairs with their cars harken back to the fifties and sixties when they spent time tuning up and customizing their vehicles,” Schwinke said. “Now with connectivity and IoT, you can give your vehicle digital tune-ups, personalize it at will and make it your own.”