At home, on the road, at work, in the hospital, or even in orbit: Bosch is improving the everyday lives of people from all walks of life with smart and connected solutions. At the same time, the company is tapping into new areas of business through software, services, and licenses.
“We are systematically digitalizing our core business to increase the benefits for our customers. Going forward, we aim turn the sale of every digital product into services-based revenue as well,” says Tanja Rückert, the Bosch Group’s chief digital officer, at CES in Las Vegas. To achieve this goal, Bosch is focusing on the connection of IoT with AI – in other words, it is linking the internet of things (IoT) with artificial intelligence (AI).
This creates a virtuous circle in which connected products deliver information that, in turn, is processed by means of AI and incorporated into software updates for these products. At the core of this approach is the benefit for customers, since it allows users to be an integral part of the development process and enables solutions to be tailored precisely to their needs. Furthermore, neither development nor value creation ends with the sale of the products. “We see the combination of AI and IoT as holding the key to leveraging the most user benefit from both of these technologies,” Rückert says. “Besides enabling us to develop new business models, this approach helps us offer better products and solutions that deliver real added value for individuals and society as a whole.”
