Auto Industry Wrestles With Monetizing AI Investments
Auto Industry Wrestles With Monetizing AI Investments
Publish Date: 2026-06-24 00:15:00
Source Domain: www.forbes.com
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Companies are heavily investing in AI but, according to a PwC survey, over half (56%) have not yet seen revenue or cost benefits from a $40 billion investment.
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Automotive manufacturers and suppliers are running pilot programs for AI, but often these initiatives are fragmented across different company divisions, lacking a cohesive strategy.
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Industry experts like Ajay Chawla from OnTrac AI emphasize the need for an inclusive, company-wide AI strategy driven by top management to achieve better results.
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There is hesitation and confusion regarding how to incorporate AI effectively into business models, as some executives express a lack of understanding and fear of the technology.
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Experts suggest that realizing the benefits of AI requires patience and careful implementation, with some companies seeing improved success rates after thorough testing and continuous integration.
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Experts advise that human involvement in AI processes is crucial for successful incorporation, stressing the importance of human-AI collaboration rather than abandoning humans to the AI’s “set and forget” mode.
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Despite skepticism about AI’s immediate benefits, experts assert that there are early signs of tangible, positive impacts, urging optimism and due diligence in the process.
