Bosch sees AI, Internet of Things boosting service revenue

LAS VEGAS — German auto supplier Robert Bosch sees artificial intelligence and connected products working in tandem to boost the revenue it generates from services in the future, the company’s chief digital officer said at CES.

“We want to use connectivity and data collected over the [Internet of Things] combined with artificial intelligence … to continuously improve our products and services,” said Tanja Rückert, Bosch chief digital officer, according to prepared remarks made available to Automotive News.

The world’s largest auto supplier said combining AI with connected products will allow it to develop new business models across its portfolio, from the automotive sector to household appliances. Connecting products to the IoT will allow Bosch to use artificial intelligence to deliver software updates that it says will help it to “offer better products and solutions.”

Bosch has invested heavily in its software and mobility businesses in recent years. The company said in a news release that it invests nearly $3.4 billion per year into its mobility business.

Bosch is restructuring its mobility business as it doubles down on AI and connected products. The company in December said it would pool the development and sales of its vehicle software, middleware, cloud service and development tools under its subsidiary, ETAS GmbH, starting in mid-2022.

“This means that we’ll be able to provide solutions to manufacturers and other suppliers more quickly, securely and efficiently in the future,” Rückert said in prepared remarks.

Bosch was scheduled to hold a virtual press conference during CES on Tuesday. It was originally set to hold it in person but chose to go virtual in response to rising COVID-19 case rates from the omicron coronavirus variant.

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