Bad for engines, but good for braking: the automotive industry has long held a complicated relationship with friction. But what shouldn’t be complicated is how the industry approaches the “frictionless economy,” that long-predicted and quickly arriving world where most transactions are electronic, automated, and effortless.
Movimento CTO Mahbubul Alam, writing for CIO Review, argues that the automotive industry has been slow to embrace the idea of a frictionless economy but is finally moving toward digitization. Advances in OTA data transmission and reflashing make once-difficult and costly procedures almost automatic—and that is just the tip of the iceberg. If the idea of a frictionless economy is embraced, the automotive industry can move from playing catch up to once again leading the way. Says Alam:
“The industry’s customers of the future are comprised of digital natives who fully embrace new concepts like car sharing and ride sharing. For such customers, value is not driven by physical assets but by digital services that may or may not tie back to physical assets.”