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Visit The Boston Consulting Group to read the article.
“Automotive manufacturers face multiple road blocks. Research and development, testing, and other engineering practices are becoming more complicated at the same time as tech-savvy competitors are entering the field, regulation is increasing, and autonomous-vehicle technology is moving from drawing boards to highways. One of the most promising options for dealing with these changes is digitizing engineering methods, using everything from virtualization to AI. But OEMs cannot simply hit the gas on such efforts for fear of being left behind. They can increase their success rate by identifying where new technologies would have the most impact on cost and productivity. Legacy automakers’ years of experience give them an advantage over younger rivals. By integrating digitization into already hard-earned mechanical and manufacturing process know-how, they could ultimately lap the competition.”