ChatGPT will Transform the Automotive Value Chain with Significant Impact in Retail Sales and In-Vehicle Experience Avenues in the Next Decade
ChatGPT has established itself as a versatile tool with potential use cases in various business functions across industries. Potential use cases across the automotive value chain are numerous. This report looks at various scenarios in which ChatGPT can be used for the key elements of the automotive value chain including supply chain, manufacturing, retail, and in-vehicle experience.
ChatGPT is trained on a massive data set, which makes it an application with wide knowledge. It can also learn new things and update its knowledge repository. This gives ChatGPT the ability to answer questions pertaining to a wide range of subjects. This capability, combined with domain-specific information, will enable ChatGPT to quickly undertake incisive analysis to derive meaningful insights.
Fed with production-related knowledge, this large language model can analyze the ongoing production data to identify anomalies and help identify bottlenecks and other issues in the production process. It can analyze historical data and current trends to forecast demand for specific components. It can also help the design team by analyzing market trends and customer feedback to suggest more user-centric designs. In automotive retail, it can transform the customer purchase journey, where a chatbot powered by ChatGPT can attend to customers 24/7, answer their queries, and guide them through the vehicle selection and purchase process. Within the vehicle, ChatGPT can usher in an era of an AI companion that can engage with the driver and occupants in natural language conversations.
Research Scope
The research scope of this study includes discussion of:
- Possible use cases of ChatGPT in the automotive value chain
- Evolving use cases and analysis of their impact on the automotive value chain of the future
- The automotive value chain, its subsegments, and the potential applications in those subsegments
- The potential integration of ChatGPT in existing automotive products and solutions
- The challenges associated with ChatGPT at the workplace and use cases that highlight the concerns around this technology
- Growth opportunities and key takeaways that derive from the analysis
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Fullpath
- Mercedes Benz
- Meta
- Stellantis (DS Automobiles)
