Dec 02, 2016
Five key strategies for managing the automotive innovation ecosystem
Evolve and adapt quickly—or perish. That’s a resounding message in most industries today, and auto manufacturing is no exception.
Shifting demographics, new consumer demands, and breathtaking technological breakthroughs are forcing the auto industry to transform in order to meet the rapid pace of change. Meanwhile, increasing competitive pressure from nontraditional and diverse market entrants, ranging from video game creators, defense industry suppliers, existing tech giants, or small tech start-ups, continues to disrupt business-as-usual.
Tapping into these new customers will be hugely profitable for those automotive companies that embrace the opportunity. To lead the way, however, they must quickly and effectively partner with tech players in new ways to develop and scale this newfound autonomy/mobility.