Bosch Points To IoT, AI, Electromobility Future
Bosch is combining the internet of things (IoT) with artificial intelligence (AI) and believes electromobility will allow it to develop new business opportunities on the back of the profound technological and ecological changes currently occurring.
In the field of video security, for example, video analysis based on neural networks opens up new possibilities. To this end, Bosch is integrating detectors both into new cameras and into an AI box that can be connected to installed devices. The first application is a traffic detector that will initially be able to detect and locate vehicles precisely in busy traffic situations, even under difficult lighting conditions. The more data that flows into the customer application, the more AI will be able to do, including accurate accident detection, the company says.
“Bosch came through the first year of the coronavirus pandemic well,” said Dr. Volkmar Denner, the chairman of the board of management of Robert Bosch GmbH, at the press conference to present the company’s 2020 annual report.
“We are one of the winners in the transition to electromobility, and we are significantly expanding our software business by tying in artificial intelligence.”
Bosch aims to leverage the competitive advantage it derives from its wealth of experience in combining connectivity (the internet of things, IoT) and artificial intelligence (AI) to generate future business and become a leading AIoT company. Bosch foresees that AI-enabled products will generate sales worth billions of euros over the next few years.
Sales of connectivity-enabled devices for the home are expected to double from 4 million last year to around 8 million units in 2021. In addition, Bosch wants to use AI to evaluate data relating to how its customers use its products, and in this way to provide software updates that create new functions and services for those customers.
“Connecting things leads to knowledge about how things are used,” Denner said. “This lets us continuously improve our products, keep them up to date, and provide our customers with more benefits.”