All roads lead to convenience
Cognitive arbitration is the latest AI capability generating a lot of buzz within the mobility space. Rob Zeuthen, manager at Mellon, a BNY Mellon Investment management company, weighs in on what investors could expect to come out of this new technology.
Advancements in technology have made the world increasingly interconnected, thanks in part to third-party devices and services, otherwise known as virtual assistants. These assistants make it easy to complete everyday tasks, increasing personal and household productivity. As competing responsibilities increase, more people are turning to these assistants and utilising them in their homes, vehicles and on their phones. However, the latest challenge is determining what assistant has the ability to complete which task. Enter cognitive arbitration – a new AI capability connecting multiple assistants, potentially allowing for seamless completion of various tasks. With consumer demand for simpler solutions increasing, the competitive landscape for cognitive arbitration in autos is already heating up. Rob Zeuthen, Mellon’s senior portfolio manager says: “Society is busier than ever and consumers are demanding simpler, more efficient solutions to their problems. This technology could be the next step in completely transforming the transport system and we see tremendous opportunity in this area.”
Cognitive arbitration in cars will allow consumers to use voice technology to control internal vehicle functions, as well as third-party connected applications. There are two elements to this functionality, embedded and connected. Embedded capabilities will allow consumers to use speech to control elements within the vehicle such as AC, windows and wipers. Connected capabilities will give people the ability to control external factors, such as locating the nearest restaurant or asking a home-based virtual assistant to place an order. One tech company already has deals in place with two large auto manufacturers to implement cognitive arbitration capabilities that will come standard in select models. That said, early stage functionality will be limited as it will not control functions within the vehicle and will only work with certain operating systems, Zeuthen says.
While cognitive arbitration is just beginning to penetrate the market, the trend is expected to increase significantly over the next few years. Some projections estimate the global connected car market will grow more than 250% by 2025.¹ “Today, on-the-go is the new norm. People have more competing responsibilities but with the same time constraints. Cognitive arbitration, in conjunction with autonomous vehicles, could revolutionize the way people carry out day-to-day tasks,” says Zeuthen. “Combine that with air mobility and we could find ourselves in a real-life Back to the Future scenario. But that’s for another day,” he concludes.
¹ PR Newswire: Global Connected Car Market Size is Expected to Reach US$225,158.0 million by 2025, 12 November 2019