How Is AI Technology Transforming the Electric Vehicle Industry?
Artificial intelligence and electric vehicles are both modern technologies experiencing rapid popularity increases in recent years. Considering they’ve been revolutionary alone, there’s no telling how transformative they could be together. Here’s a look at how AI inspires electric vehicle trends.
AI’s Popularity in the Electric Vehicle Industry
Although artificial intelligence is a recent addition to the electric vehicle industry, it has already become massively popular. In 2020, the global automotive sector spent over $12.2 billion on AI. As the technology advances, more businesses look to invest.
AI’s entrance has kickstarted research and development at longstanding industry powerhouses and motivated startups to bring fresh ideas to the electric vehicle sector. Already, businesses are finding ways to use it in everything from charging optimization to battery health monitoring.
Why Is AI Use Transformative?
Unlike other similar technologies, AI can act independently and form data-driven conclusions without human support. Thanks to this capability, custom strategies replace traditional off-the-shelf solutions. An algorithm can produce personalized, real-time results to help drivers and manufacturers.
Whether drivers want a custom commute or manufacturers spread across the country need a standardized management tool, AI fits the bill. These electric vehicle trends will modernize traditional industry standards to make a significant, lasting impact on the electric vehicle sector.
AI’s Role in Electric Vehicle Trends
AI is changing the industry in all aspects, from supply chains to charging stations. Here are some of the top electric vehicle trends.
1. Increase Driver Safety
Electric vehicles (EVs) are becoming increasingly popular. According to one survey, around 45% of people contemplate getting one. Most EV companies estimate their adoption rate will skyrocket by 2030. As their number increases, minimizing the number of car accidents becomes crucial for keeping demand resilient.
If an electric vehicle’s battery pack fails while someone is driving, a crash is almost guaranteed. Fortunately, AI can manage thermal and voltage bounds to prevent overheating and outages. This technology’s power to improve driver safety is one of the top electric vehicle trends.
Additionally, AI can monitor the driver’s behavior and make recommendations to reduce the chances of collisions. For example, it can suggest they pull over or turn on traction control if they swerve on icy roads.
2. Strengthen Supply Chains
Electric manufacturers and suppliers need high-demand — sometimes rare — materials to build vehicles. Fortunately, they can use AI to reduce overhead costs and optimize the supply chain. For example, algorithms could monitor global demand and shipping delays to overcome the worldwide semiconductor shortage, helping increase production rates.
3. Increase Energy Efficiency
Over time, batteries deteriorate and lose energy capacity. Although manufacturers developed recycling processes to minimize the cost of material sourcing and production, they want a permanent solution. AI-driven battery monitoring is precisely what they are searching for.
An algorithm can make driving and charging recommendations to increase energy efficiency. For example, it can tell drivers how to avoid a traffic jam or when to refill their batteries. Since the suggestions are custom instead of generic, the effect will be more noticeable. Electric vehicle batteries last longer, saving manufacturers and customers money.
4. Enable Personalization
Using data, AI can personalize drivers’ experiences. For example, it can remotely start at the same time daily or adjust the heat to align with the weather. Alternatively, it could adapt to their driving behavior to improve energy efficiency. Since consumers are increasingly comfortable with AI, it could become a profitable selling point. Also, it could increase electric vehicle adoption.
5. Improve Environmental Impact
Coupled with sensors, AI can track emissions to improve the electric vehicle industry’s compliance — and potentially lead to technological improvements. When manufacturers have enough historical data, they can improve their research and development process to make their products more environmentally friendly.
6. Predict Battery Maintenance
Out of all the latest electric vehicle trends, predictive maintenance is one of the best. AI can monitor battery pack usage, temperature and capacity. Once it factors in charging frequency and mileage, it can determine a battery’s current health and project its lifespan. Drivers can use this information to know when they’ll need a replacement. Additionally, manufacturers can use the data to improve research and development.
Since AI can narrow potential electric issues, drivers and businesses pay less for diagnosis and repair. Plus, the vehicle itself achieves better performance. While many suppliers don’t have robust battery replacement practices, algorithm-powered predictive maintenance can help them develop some.
7. Improve Charging Stations
Businesses can use AI to decide where to place charging stations. Instead of making choices based on demand, an algorithm can consider hidden patterns and unique variables to optimize placement. As a result, charger owners raise profitability and drivers experience more convenience.
Additionally, AI can optimize charger use by analyzing outlet availability, arrival times and a vehicle’s energy efficiency. One study found algorithm-driven charging suggestions could lessen battery deterioration costs by 80% and improve wait times by 60% on average. Consequently, charging stations get higher customer volumes and drivers pay less.
Will AI Have a Lasting Impact on the Industry?
AI will permanently change how the electric vehicle industry operates. Aside from its typical applications like autonomous driving or fleet management, it can transform how people manufacture, drive, charge and repair these cars. This technology has already become a staple in other sectors, so it is not a stretch to assume widespread adoption will happen in this one.
If manufacturers, suppliers, drivers and charging station owners use AI collectively, vehicle standards could radically change. For example, businesses could use algorithms’ historical data analysis during research and development to establish new battery protocols. Also, they could create new charger recommendations based on the same information.
AI’s data collection capabilities alone can improve battery recycling, emission reduction and part manufacturing. If electric vehicle’s adoption rate and market value increase as a result, the industry could see massive, prolonged gains.
Electric Vehicle Trends Can Revolutionize the Industry
Although industry-wide AI adoption is still a few years out, this technology is already driving electric vehicle trends and transforming traditional standards. Since continued algorithm use only leads to better data collection and performance improvements, there will likely be many more innovations soon.