Artificial Intelligence and Its Business Implications in the Au-tomotive Industry

Abstract

Artificial intelligence (AI) in industrial settings is fundamentally altering how businesses operate, especially in the automobile industry. Using publicly accessible yearly reports from 2003 to 2023, this study analyzes the financial and economic effects of AI deployment on a subset of automobile companies: Mercedes-Benz, Audi, and Volkswagen. The objective is to verify if the use of AI technology affects important financial metrics like sales, year over year sales differences, return on equity (ROE), and profit after tax (EAT) in a statistically significant way. The Shapiro-Wilk test and the ANOVA or Kruskal-Wallis tests, depending on the distributional features, were used to determine if the data distribution was normal using IBM SPSS software. The findings indicate that, while the impacts differ depending on the organization and metric, AI integration is associated with statistically significant changes in financial variables. These results point to the potential benefits of AI for business performance in the automotive sector, but they also emphasize the necessity of customized implementation plans for all companies. This study outlines important areas where AI's further development could provide major strategic and operational advantages and ends with actionable suggestions for optimizing its usage.

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