Fiat Chrysler to aid in the development of world-leading autonomous driving platform
Fiat has joined forces with BMW Group, Intel, and Mobileye to aid the supergroup in developing a world-leading autonomous driving platform.
A memorandum of understanding has been signed with the intention of Fiat Chrysler Automobiles (FCA) being the first automaker to join the trio in its quest. The aim is that the businesses will leverage each others’ strengths and resources, increase development efficiency of the platform, and reduce time to market. Fiat Chrysler will bring engineering and technical resources as well as its long-established expertise to the team, plus its reputation and significant sales volumes.
FCA’s Chief Executive Officer, Sergio Marchionne, said: "In order to advance autonomous driving technology, it is vital to form partnerships among automakers, technology providers and suppliers. Joining this cooperation will enable FCA to directly benefit from the synergies and economies of scale that are possible when companies come together with a common vision and objective."
- RELATED STORIES:
- BMW, Intel and Mobileye to make fully driverless cars by 2021
- Deutsche Telekom and BMW launch in-car high speed internet across Europe
- Read the latest issue of Business Review Europe
BMW, Intel, and Mobileye came together for this project in 2016, collaborating to bring solutions for highly automated driving and fully-automated driving, aiming to make this a reality by 2021. The three have been working on a scalable infrastructure ever since that can be applied by most – if not all – automakers in the world.
A shorter-term plan was to deploy 40 autonomous test vehicles by the end of 2017, and this idea is on track to succeed.
"The two factors that remain key to the success of the cooperation are uncompromising excellence in development, and the scalability of our autonomous driving platform," said Harald Krüger, Chairman of the Board of Management of BMW AG. "With FCA as our new partner, we reinforce our path to successfully create the most relevant state-of-the-art, cross-OEM Level 3-5 solution on a global scale."
"The future of transportation relies on auto and tech industry leaders working together to develop a scalable architecture that automakers around the globe can adopt and customize," said Brian Krzanich, Intel CEO. "We're thrilled to welcome FCA's contribution, bringing us a step closer to delivering the world's safest autonomous vehicles."
"We welcome FCA's contributions and use of the cooperation's platform, which has made substantial progress over the last year and is rapidly entering the testing and execution phase," stated Professor Amnon Shashua, Chief Executive Officer and Chief Technology Officer of Mobileye, an Intel Company. "The combination of vision-intense perception and mapping, differentiated sensor fusion, and driving policy solutions offers the highest levels of safety and versatility, in a cost-efficient package that will scale across all geographies and road settings."
Mambu and the UAE’s digital banking journey
Miljan Stamenkovic enjoys the dynamic and constantly evolving world of fintech banking. In his current role as General Manager for MENA for Mambu, Stamenkovic sees opportunity in abundance.
“When I joined Mambu with my team in 2019, we came with the fintech, entrepreneurial mindset and DNA to build and grow Mambu’s business in the MENA (Middle East and North Africa) region. Before 2019, the region used to remind me of a desert, at least in terms of cloud service providers and cloud adoption. But this past year has been a wave of progress.” In November 2020, Mambu opened a new office in Abu Dhabi Global Market, as the region has quickly become a key market for Mambu.
He explains, “There are data protection laws. There are cybersecurity regulations and most importantly, a variety of major tier one cloud service providers that are available. But what particularly excites me here at Mambu is the opportunity to rethink business models together with our clients and really bring them to life. This is where I saw a great fit with Mambu and its composable philosophy.”
Creating a neobank and challenger bank ecosystem has been his ultimate goal. “In my opinion, this actually creates a unique opportunity to partner with some of the best fintechs in the region and build the region’s first and true challenger and neobanks.”
Stamenkovic credits Mambu’s partnership with Banque Saudi Fransi (BSF) for the success that has driven the bank forward in the region. “When I think about all the challenger and neobanks that have grown massively over the past decade,there is one common denominator for all these new initiatives. I would say they really operate like a tech company rather than a bank. - BSF is leading this approach in Saudi Arabia.”
He continues, “This brings a competitive advantage for tech companies. These platforms are each managed individually but can be swapped in and out. And when put together, they actually form the backbone of a company's technology capability. This is why tech companies and banks like BSF actually can get products to the market a hundred times faster than their more incumbent peers.”
The implementation, he stresses, is an evolving process, where each component is trialled and checked and swapped in and out according to its effectiveness. But it’s down to the dynamism of the team on the project to initiate these changes. “As critical as technology is to digital transformation, the DNA of people working on these initiatives is the key to success. At BSF they have a true startup and entrepreneurial mentality.”
He explains that Mambu is helping BSF deliver an entire new banking experience while providing soft core banking services hosted, in this case in Saudi Arabia. “Mambu sits at the heart of BSF's new challenger bank and its technology stack. So, this actually enables BSF to take an entirely cloud native approach, having Mambu at the centre of its ‘Digital Engine’.”
Stamenkovic points out, “Mambu enables banking like a modern tech company. Banks used to be built to last, but today they need to be built to change. And that's what we're enabling here.”