The BMW Group is an example of a company that has embarked on a digital transformation journey, moving to a digitized cloud architecture through SAP S/4HANA for their iFactory in Oxford, UK. This has simplified and united the process of making complex changes to the IT systems of their plants in areas such as parts logistics, finance, and meeting customs requirements. The future of the automotive industry will belong to those who put digital transformation at the center of their business strategies.
Key takeaways:
- The automotive industry is experiencing rapid changes, with GenAI improving everything from design and forecasting to manufacturing and production, making the customer experience more personal.
- Consumer buying habits are changing, with more people shopping for vehicles online and electric vehicle demand surging.
- The global market for generative AI in the auto industry is projected to exceed $2 billion by 2032, prompting automotive companies to transform digitally.
- The BMW Group's digital transformation journey, in partnership with SAP, exemplifies the potential of moving to a cloud architecture and leveraging generative AI for automation and efficiency.