-LG CEO Presents Customer Experience Vision for Future Mobility at IAA MOBILITY 2023
As a smart life solutions company, LG introduces differentiated mobility
Experiences based on extensive knowledge of customers at a major mobility fair
MUNICH, Sept. 6, 2023 /PRNewswire/ -- LG Electronics (LG) today held its first press conference at IAA MOBILITY, one of the world's largest annual mobility industry events. Speaking on the main stage (Hall A1) of the Messe München exhibition center, LG CEO William Cho shared the company's perspective on the future of the mobility industry and presented his vision to drive major changes across the board. the mobility ecosystem, a goal referenced by LG's press conference theme: "Taking the good things in life on the road."
In July this year, LG announced its vision to become a "smart life solutions company" with the goal of connecting and extending the customer experience to all areas of people's lives. The company followed up with the introduction of ThinQ UP 2.0, a revolutionary innovation that transforms home appliances into ultra-connected lifestyle solutions. Today, the company presented its unique and inspiring vision for the future mobility customer experience.
With the auto industry rapidly shifting towards electrification and autonomous driving, LG has an incredible opportunity to create new customer value in the field of mobility. The car will soon be more than just a mode of transportation, and instead will be a space that offers expanded and differentiated customer experiences.
"LG spent close to 70 years in the consumer-facing business. Throughout this time, we have gained a rich understanding of global customers and their living spaces by endlessly discovering new insights and trends. This eventually turned into several innovations in the consumer electronics industry," said CEO William Cho. "With our extensive knowledge and experience in this area, we are excited to present our new vision for mobility."
The knowledge and experience behind LG's customer experience-driven products and services have led to the rapid growth of LG's Vehicle Components Solutions (VS) company. By continually investing in VS Company over the past decade, LG has successfully expanded its business into the automotive components and solutions market.
According to market research firm Strategy Analytics, LG is estimated to have accounted for the largest share of the global vehicle telematics market last year, at 23.3 percent. And, since 2021, the company has a double-digit share in the audio, video and navigation (AVN) segment. These results can be attributed to the recognition and trust that VS Company has earned from major auto manufacturers for its differentiated products and services.
Alpha-able: Future Mobility Experience Theme Focused on Customer Experience
LG recently conducted an experiment in which it created an environment designed to simulate the interior of a real autonomous vehicle. Their findings suggested that most people perceive the autonomous vehicle as an exclusive and private space that gives them complete freedom to do what they want, such as play, work and spend some time alone. In-depth surveys show that today's drivers have similar views about their vehicles and the time they spend in them: 72 percent agree that traveling by car is primarily a time to relax alone, and 43 percent believe that the vehicle cabin is a significant personal space.
Based on these customer insights, LG is redefining the car as a "personalized digital cave" and has developed three customer experience themes - Transformable, Explorable and Relaxable - to help you realize your vision of future mobility. Collectively, the themes are known as Alpha-able, the company's take on making everything possible.
Transformable experience: an environment that adjusts to the needs of users
LG believes that the space inside a vehicle should be able to physically transform to suit different situations or purposes; becoming a restaurant to dine in, an office to work in or even a movie theater on wheels. To deliver the Transformable experience, the space inside the vehicle will become more flexible, offering unique experiences that meet and exceed passenger expectations. This concept will be brought to life through LG's innovative display solutions, including transparent, flexible and rollable displays in a variety of form factors, and through its unrivaled home appliance technologies.
Explorable experience: reinventing the space inside the vehicle with content
LG believes that the car of the future should be able to understand the unique context of each journey, taking into account trip destination, trip duration and other variables to drive a smarter journey, complete with personalized content recommendations and more. LG is confident that the combination of advanced artificial intelligence (AI) and Extended Reality (XR) technology will help you unlock explorable experiences sooner rather than later.
The company's sophisticated AI will take the mobility experience to new heights, enabling in-vehicle interactive voice assistants that take travel time and destination into account when recommending content to passengers, providing relevant options that can be enjoyed within the estimated travel time. What's more, with augmented reality (AR) technology and windshields incorporating LG's transparent OLED display, passengers can transport themselves from their current location to a completely different city, or completely transform the look of the vehicle's interior.
Relaxable experience: presenting more comfort
Finally, the Relaxable experience will take advantage of LG's advanced technology and connected services to help customers relax and enjoy "time to themselves." They can enjoy a beautiful virtual garden and fresh air in a busy city, a hot massage in your seat while listening to relaxing music, or an AI coaching session to help unwind the day. These relaxing mobility experiences are made possible by LG's extensive knowledge in home appliances, displays, digital health and other customer-related business areas.
The three experience themes that make up 'Alpha-able' are the cornerstones of LG's future customer mobility experience. To differentiate LG from its competitors, the experiences aligned under each theme will be delivered through the company's innovative customer-focused technologies, services and content.
"We strongly believe that future mobility should be focused on the mission of delivering another level of customer experience. LG, with innovative mobility solutions, is more than committed to this important mission," CEO Cho concluded. "As we strive to unlock the future of mobility, we invite all industry leaders to join us on this exciting and important journey."
The video of the press conference can be viewed on the LG Global YouTube channel (www.youtube.com/GlobalLG).
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