Automakers can balance strategic growth with preserving value in the digital transformation era by adopting a few strategies. Firstly, they can invest in new technologies like electric, connected, and autonomous vehicles to stay competitive. Secondly, they can assess the realities of their operations and make necessary adjustments to align with the digital transformation. Thirdly, they can explore new revenue streams such as in-car entertainment to capitalize on the growing demand. Lastly, they should ensure their strategies are adaptable to changing conditions to maintain their value.

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Electric and connected vehicles are expected to play a significant role in the future of the automotive industry. They are likely to become the new norm, replacing traditional gasoline-powered vehicles. This shift is driven by the need for sustainable and environmentally friendly transportation options. Connected vehicles, on the other hand, will enhance the driving experience by providing real-time information, entertainment, and safety features. They will also pave the way for autonomous vehicles, which are expected to become more commonplace by 2030. The demand for in-car entertainment like movies, TV, and online shopping is also expected to grow as these technologies advance.

The Digital Transformation presentation can help businesses adapt to changing conditions by providing a framework to develop a unique strategy. This strategy can help businesses stay relevant in an increasingly digitized world. It can guide businesses in assessing the realities of their operations and balancing strategic growth with preserving value. It can also help businesses anticipate future trends, such as the rise of electric, connected, and autonomous vehicles, and the growing demand for in-car entertainment.

The increasing digitization in the automotive industry could create several new revenue streams. One potential area is the development of in-car entertainment systems, as autonomous vehicles become more prevalent, the demand for in-car entertainment like movies, TV, and online shopping could grow significantly. Additionally, the data generated by connected cars could be monetized through targeted advertising or selling to third parties. Subscription services for software updates and premium digital features could also be a source of recurring revenue. Lastly, partnerships with other digital businesses such as ride-sharing or food delivery apps could open up new opportunities.

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Digital Transformation (Part 2)

How can you keep up with the time so your business stays relevant in an increasingly digitized world...

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