The automotive industry is currently undergoing a significant transformation, with more than half of its leaders recognizing the growing significance of artificial intelligence (AI) in the development of electric vehicle (EV) batteries. A recent study commissioned by Monolith, a leading AI software provider, reveals that senior decision-makers are under pressure to reduce physical testing, with the use of Engineering AI (EngAI) expected to result in significant time and cost savings in the development process.
The study, which surveyed 165 senior decision-makers in automotive engineering in North America and major European automotive markets, provides insights into the industry’s increasing reliance on AI to maintain competitiveness in the race to produce industry-leading vehicles. With the demand for EVs on the rise and economic pressures mounting, automotive leaders are seeking innovative solutions to reduce costs and development time, and EngAI is expected to play a crucial role in achieving these objectives.
One of the key findings of the study is that almost two-thirds of automotive leaders anticipate the potential impact of AI to be extremely or very significant, with over half indicating that EngAI is essential to remain competitive in EV battery development. These findings underscore the growing recognition of the value of AI in accelerating innovation and addressing the urgent challenges faced by the industry.
Dr. Richard Ahlfeld, CEO and Founder of Monolith, underscores the importance of AI in this highly competitive industry, stating that “Engineering AI can learn to solve problems much faster than any human.” With the need to shorten development cycles and reduce costs, automotive engineering leaders are increasingly turning to AI to gain a competitive edge in the market.
Although the study reveals the industry’s growing emphasis on the importance of AI, many senior decision-makers have expressed concerns about the potential implications of the technology on their businesses’ staff count. However, over half of the respondents have recognized AI as critical in ensuring their competitiveness in EV battery development, reflecting a growing acceptance of AI technology in the automotive sector.
The emergence of AI in engineering has led to increased attention on this technology among industry leaders. The study highlights that automotive engineering leaders emphasize the need to reduce the time and effort spent on EV battery validation while also aiming to reduce dependency on physical tests. Recognizing the limitations of current virtual validation tools, these leaders are seeking intelligent solutions to achieve compliance with safety and quality standards.
In light of these findings, the study’s respondents have high expectations for the impact of EngAI on development cycles, anticipating significant time and cost savings in various aspects of EV battery testing. From cell characterization testing to charging optimization testing, AI is expected to transform the product development process and enable engineering teams to deliver higher-quality products in a fraction of the time.
Monolith, the software provider behind the study, is at the forefront of democratizing AI for engineering with its bespoke SaaS platform. By leveraging AI to analyze and learn from valuable testing datasets, the platform empowers engineering teams to make accurate predictions and reduce the need for time-intensive prototype testing programs. With its innovative AI-powered functionalities, Monolith is paving the way for accelerated development of revolutionary new products in the automotive industry and beyond.
As the automotive industry continues to embrace AI technology, it is evident that the role of EngAI in EV battery development will be crucial in driving innovation, reducing costs, and shortening development cycles. With the potential to revolutionize the way products are developed, AI is poised to reshape the future of the automotive industry and accelerate the creation of next-generation vehicles.