CENEX 2024: five key takeaways for transport SMEs exploring AI 

Innovate UK had a significant presence CENEX 2024, promoting over 24 programmes, innovation organisations and Catapults. Across five stands, the UK’s innovation agency showcased the breadth of support available and impact it is having on the sector.

One of the programmes featured was BridgeAI which offers funding and support opportunities to help innovators assess and implement trusted Artificial Intelligence (AI) solutions. The team spent time with delegates from the transport sector exploring how adopting AI can enhance business productivity and drive sector growth.

The team’s key takeaways

1. Transport sector challenges are not unique
   We identified challenges in adopting AI, including trust, ethics, and data interoperability. These issues span key sectors supported by BridgeAI, reinforcing the importance of a cross-sector collaborative approach to address them effectively.
2. Unequal adoption across the sector
   The approach to AI adoption within the transport sector is varied. While some areas, especially automotive Original Equipment Manufacturers (OEMs), have integrated AI into core technologies, significant portions of the transport sector have yet to fully explore its potential. This uneven uptake underscores the need for tailored support and guidance to ensure AI’s benefits are realised across the board.

   Wayve’s record-breaking investment success, focused on AI-driven transport solutions, demonstrates that UK-based companies can attract high-value funding, provided they leverage AI in groundbreaking ways. However, global competition and fewer local opportunities may still pose challenges for smaller start-ups.

3. Global investment opportunities and barriers
   While large automotive OEMs operate on a global scale, offering access to substantial investment opportunities, smaller innovative companies like Wayve demonstrated it is possible, and have paved the way for SMEs in the UK.
4. Innovative spirit
   Attendees at CENEX demonstrated a strong desire to rapidly innovate with digital technologies, one of many being deployed across the sector to address climate change challenges. This innovative mindset is a powerful driver of AI adoption, yet the journey requires support from collaborative ecosystems like BridgeAI to sustain momentum.
5. AI across the supply chain
   The variety of opportunities to adopt AI goes way beyond the autonomous vehicles and connected communications. Polaron, who exhibited on the Innovate UK stand, showed how AI can be used to rapidly process micrographs resulting in more effective materials for battery development. This highlights the expansive possibilities for AI adoption across the entire transport supply chain, not just in high-profile areas like autonomous driving.

Moving forward with BridgeAI

CENEX proved to be an insightful event, reinforcing the critical role BridgeAI and its partners can play in delivering tailored support and guidance to ensure AI’s benefits are realised and driving AI adoption in the transport sector. Understanding the ‘why’ and ‘how’ of AI implementation is a crucial first step.

A collaborative, cross-sector approach, particularly in terms of data sharing, is essential for leveraging AI. By breaking down silos, we can collectively address productivity challenges and generate those expansive opportunities across the industry.

Stay connected for updates as BridgeAI continues to support this complex journey. For more insights on how AI can benefit your business, join the BridgeAI community: Sign up for the BridgeAI newsletter to stay informed about the latest opportunities and events.