he technology-centric future of the car industry is accelerating at a fast speed. Tesla, the new player in this competitive industry, brought threats among traditional carmakers. Decade-old business models no longer work in the new wave of market preference, which is, technology-oriented engagement. To stay relevant in the game, traditional carmakers must embrace technology through partnering with tech providers and online revenue streams. On the downside, tech-embedded cars are prone to cyber-threats mostly those connected fleets. The only way to earn success in this new business model, tech cars must be secured from digital hackers.
The Digital Evolution of Security Car Industry
Dumb vehicles are no longer in the loop of trends ever since new car models were loaded with more technology. This led to the transformation of the automobile sector’s services offered and software. Given the rapid increase in demand, CIOs are investing more in the automotive industry in contrast to other Internet of Things (IoT) related technologies. Companies are aggressively altering their operations aligned with the digital-first practices.
The industry transformation drove traditional carmakers to provide mobility services that are more effective in today’s market landscape. Traditionally, vehicles can sit by the window display for years waiting for someone to purchase and then instantly lose their value upon driving it away from the store. Mobility services, on the other hand, can garner profits all throughout the life cycle of the vehicle. In other words, monetising car data by offering targeted services according to the car’s age and specific driving behaviour.
Moreover, mobility services include additional security, CCTV service, driver’s condition monitoring, emergency call service, and other niche-specific services promoted by targeted advertising. Thus, OEMs feel the need to partner with expert tech providers to keep up with the new players in the car industry.
The Urgent Need For Action
As aggressive as their cars, the automotive new players are pushing traditional car players to leverage their tactics on par with the in-depth vehicle integration of Tesla, for example. Old players can see the rampant decrease in the demand for dumb vehicles since the convergence of digital ecosystems embedded in the new tech vehicles. Such instances pushed old carmakers to invest in technology-oriented practices and concepts.
The Aftermarket Fleets
It’s not only luxury cars that benefit from the tech-oriented trend of the automobile. Taxi services and car rentals are making use of automobile technology to systematised their operations while bringing even more security to their clients. Telematics is used to enhance communication, avoid accidents, better route-planning, optimise supply chain logistics, and keep their assets safe and in good condition.
Through this technology, liabilities and overhead expenses will be significantly reduced while improving services and efficient operations. Additionally, customer service will be more agile and responsive. However, data-driven connections can encounter cyber-risks that should be addressed and avoided as soon as possible.
Data-Driven Car Security Threats
- Fleet-wide hacking
- Individual vehicle cyber-attacks
- Data centre attacks
- Communication protocol attack on the vehicle
- Theft of vehicle’s intellectual property
- Identity fraud
Upstream is a cyber-threat solution for tech-oriented cars. It is one way to move forward in this revolutionary stage of automobiles. While the traditional data-driven security platforms are not as advanced as automotive aware systems, automotive telematics ensures auto-data security while on the road. Its features were designed to spot unusual activities and algorithms to identify fraud, policy violation, or cyber attack. It can even give insights into the driver’s condition and his/her ability to drive at the moment.
The Four Key Security and Analytics
- Protocol Security – detects threats in vehicle-server communication channels.
- Transactional Analysis – detects communication patterns between vehicle-server and mobile applications used.
- Contextual Security – detects anomalies in the current condition of the vehicle.
- Behavioral Security – detects the driver’s fleet behaviour and auto conditions.
Change is inevitable in this age of digitalisation. All of the IoT (Internet of Things) will witness a consistent change in their respective industry. Tech-oriented operations will become the status quo normal in the near future. Hence, traditional carmakers and other industries stuck in their traditional ways must thrive to adapt to the new waves of culture.