Le Lézard
Classified in: Transportation
Subject: SVY

U.S. Auto CEOs More Bullish on AI, Emerging Technology Investments Compared to Global Counterparts: KPMG Survey


DETROIT, July 27, 2017 /PRNewswire/ -- With an intense battle for a leadership position in the autonomous vehicle market, U.S. automotive CEOs are stepping up investment in innovation, artificial intelligence (AI) and emerging technologies compared to their global peers, according to a study released by KPMG LLP, the U.S. audit, tax, and advisory firm. 

Follow the conversation on @KPMGUS_News using the hashtag: #CEOoutlook

The KPMG U.S. CEO Outlook 2017 report features results from an in-depth survey of 34 U.S. automotive CEOs and 62 global automotive CEOs.

"Our study found higher levels of optimism and confidence by U.S. auto CEOs moving forward in their willingness to invest in emerging technology and innovation compared to their global counterparts," said Gary Silberg, Automotive Sector Leader at KPMG LLP. Silberg says that CEOs recognize that this is a critical juncture, one where they will make choices on whether to remain pure automakers or to become mobility service providers, or both. 

"Given the rapid pace of innovation and it's inherit complexities it's really hard to be a CEO knowing that the investment decisions made today or not made will have profound implications on the future of their company. Moreover, breakthroughs in AI, especially in deep learning, are having an unprecedented impact on the advancement of autonomous vehicles and how customers are interacting with cars."

The KPMG study also found U.S. auto CEOs are less concerned about increasing market share than their global peers, 33 percent vs. 55 percent.        

Technology Implementation Concerns Persist
While CEOs conveyed a clear sense of prioritizing investment in cognitive and artificial technology, concerns over readiness to adopt these technologies persist. In fact, nearly 40 percent of both U.S. and global automotive CEOs agreed with the statement that their organization is not ready to adopt advanced AI technology.  Additionally, 56 percent of U.S. automotive CEOs and 48 percent globally expressed concerns that their organizations do not currently have the sensory capabilities and innovative processes to respond to this rapid disruption.

"In this age of autonomy and mobility, traditional automakers find themselves competing with new entrants, from technology giants to startups," said Tom Mayor, National Strategy Leader for Industrial Manufacturing at KPMG LLP. "For auto companies to thrive in this new environment, they must solve what KPMG calls the "clockspeed dilemma" - the need to balance traditional 5-7 year auto product cycles with the new, consumer electronics type cycle.  In order to do that, they need new processes, capabilities and talent."  

For more information, please visit: http://www.kpmg.com/US/CEOoutlook.

About KPMG LLP
KPMG is one of the world's leading professional services firms, providing innovative business solutions and audit, tax, and advisory services to many of the world's largest and most prestigious organizations.

KPMG is widely recognized for being a great place to work and build a career. Our people share a sense of purpose in the work we do, and a strong commitment to community service, inclusion and diversity, and eradicating childhood illiteracy.

KPMG LLP is the independent U.S. member firm of KPMG International Cooperative ("KPMG International"). KPMG International's independent member firms have 189,000 professionals, including more than 9,000 partners, in 152 countries. Learn more at www.kpmg.com/us.

 

Contact: 

Manuel Goncalves


KPMG LLP


201-307-7735


[email protected]


Twitter: @mdgoncalves 

 

SOURCE KPMG LLP


These press releases may also interest you

at 03:22
A news report from iChongqing: In 2014, Chinese President Xi Jinping and Germany's then Vice Chancellor and Minister of Economics and Energy, Sigmar Gabriel, witnessed the arrival of the YUXINOU (Chongqing-Xinjiang-Europe) train in Duisburg, Germany....

at 02:00
- Hoping Guests Will Experience New Value of Traveling in Japan - Sumitomo Fudosan Villa Fontaine Co., Ltd., a Sumitomo Realty Group, has begun offering guestrooms featuring Japan Airlines, a major Japanese carrier, Hatsune Miku, LINE FRIENDS, and...

28 mar 2024
On Tuesday March 26, 2024, DeLorean Motor Company, represented by intellectual property and entertainment attorney, Roger N. Behle, Jr. of Foley Bezek Behle & Curtis, filed documents in California federal court announcing the settlement of DeLorean...

28 mar 2024
The Greater Toronto Airports Authority ("GTAA") today reported its financial and operating results for 2023.  Passenger activity significantly increased by 9.2 million, or 25.8 per cent, from 35.6 million to 44.8 million in 2023, when compared to...

28 mar 2024
Quhuo Limited ("Quhuo," the "Company," "we" or "our"), a leading gig economy platform focusing on life services in China, today announced that it will report unaudited financial results for the second half and full year 2023 before the open of the...

28 mar 2024
Magna International Inc. today announced that its 2023 Annual Report, including Management's Discussion and Analysis and Audited Consolidated Financial Statements, Annual Information Form (AIF) and Form 40-F, are now available on the company's...



News published on and distributed by: