Digital transformation in automobile manufacturing- impact on business development strategy, challenges and prospects

Abstract

In recent years, digital transformation has become a key driver of change and innovation in many industries, including automobile manufacturing. Digital technologies are transforming every aspect of competitiveness and the automotive value chain, from the development of electric and autonomous vehicles to the implementation of advanced analytics and robotics. This transformation is not just affecting the way cars are designed, built, and sold, but it is also changing the way companies approach business development and strategy formation. The digital transformation of the automotive industry has brought about significant changes in the way business is conducted, leading to increased efficiency, productivity, and revenue. However, there are also challenges that arise from this transformation, such as cybersecurity risks and the need for new skill sets. In today’s world, where the automotive industry continues to grow rapidly, it is important to understand the impact of digital transformation and the Internet of Things (IoT) on business development strategies and the economy. These issues are considered in this article. The authors analyzed the impact of digital transformation and the Internet of Things on the auto- motive industry, as well as explored potential solutions to the problems that arise in connection with this transformation.