In the race to perfect autonomous driving, Israel has proven to be a hotspot of innovation in areas like machine learning and cyber security – driven, in part, by its military expertise and surveillance tools.
Israel, which celebrated its 70th anniversary last year, is one of only a handful of countries that is younger than the car itself. Despite having a relatively small pool of human talent to call upon – there are more than 20 cities in the world with populations larger than Israel’s 9m – today it is punching far above its weight in the new automotive world, especially in the strategically critical areas of artificial intelligence, machine vision and cyber security.
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A squeeze on automotive suppliers, together with the adaptation of new technology, will lead some major players to play a bigger role in overall vehicle development cycles, especially in shaping customer user experiences
As OEMs and automotive parts suppliers see their margins decline, cost pressures are going to increase on logistics operations and service providers further down the supply chain
As OEMs look to reduce production costs and manage more complexity, automotive suppliers will face challenges. But with more EV models in the pipeline, many have the opportunity to grab a larger piece of the pie both for manufacturing and supply chain management.
Volvo Group said its venture capital arm has invested in Israeli automotive cybersecurity specialist Upstream Security. It also announced that it would form a dedicated new business arm for autonomous vehicles.
Faurecia has opened an office in Tel Aviv, where it hopes to accelerate its cyber security strategy.
More than two-thirds of all companies worldwide plan to spend at least 5% of their IT budgets on cyber security next year, according to a new poll. That’s up from 56% of companies polled a year ago.
