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Navigating the Tech Frontier for Strategic Investments in Global Transportation

By: Mruna Asoori, Global Head of Technology, Data & AI, Brink’s In | Thursday, 3 October 2024

Mruna is a seasoned technology executive with extensive experience across manufacturing, finance, healthcare, and aerospace. She excels in driving digital transformations, aligning technology with business strategies, and fostering collaboration. A mentor to emerging leaders, she specializes in Agile methodologies, cloud migration, and business process improvements.

In a recent conversation with The Global Woman Leader Magazine, Mruna shared her views on the evolving role of technology in the transportation industry over the next five years, highlighting key trends shaping the market. She emphasized the importance of prioritizing technology investments, assessing which technologies to pursue, and balancing standardization with local customization across diverse regulatory environments.

Given the rapid advancements in autonomous and electric vehicles, how do you see the role of technology evolving in the transportation industry over the next five years? What are the key trends shaping the market right now?

In the next five years, we're going to see some major changes in transportation. Autonomous and electric vehicles are going to be a big deal. For example, we're already starting to see autonomous taxis and delivery vehicles being tested in cities around the world. Electric vehicles are also becoming more popular, with several new models being released every year.

AI and Machine Learning will make driving safer and more efficient. For example, AI-powered systems can be used to detect and avoid potential hazards, and machine learning algorithms can be used to optimize traffic flow. Electric vehicles will become more popular as battery technology improves and charging stations become more common. For example, several major automakers are investing heavily in electric vehicle technology, and the number of charging stations is increasing rapidly.

5G and IoT will also be game-changers. They'll provide the real-time connectivity we need for smarter traffic management and better vehicle performance. For example, 5G networks will enable real-time communication between vehicles and infrastructure, allowing for more efficient traffic management. IoT sensors can be used to collect data on traffic conditions, vehicle performance, and road infrastructure, which can be used to optimize traffic flow and identify potential problems.

I also expect Mobility-as-a-Service (MaaS) to grow, making it easier for people to get around. MaaS platforms can be used to book rides, rent bikes or scooters, and even use public transportation, all through a single app.

In a landscape where technology is advancing so quickly, how should large transportation enterprises prioritize their technology investments to ensure they remain competitive? What framework do you use to assess which technologies are worth pursuing?

When it comes to investing in technology, large transportation enterprises need to focus on solutions that align with their overall goals and meet customer needs. I believe that scalable and cost-efficient technologies like AI, IoT, electric mobility, and advanced analytics can really give companies a competitive edge.

When evaluating potential investments, companies should consider factors like potential return on investment (ROI), the maturity of the technology, market trends, and how well it aligns with their business objectives. I'm also a big fan of running pilot programs to test new technologies before fully committing.

It's important to stay mindful of the regulatory landscape and cybersecurity risks. Engaging stakeholders across the organization is key to ensuring that new technology drives real value. At the end of the day, it's about finding the right balance between innovation and operational stability while focusing on efficiency, sustainability, and improving the customer experience.

As companies look to expand globally, what are the critical technological considerations for scaling operations across diverse regulatory environments? How do you balance standardization with local customization?

So, when you're expanding your business to other countries, there are a few things you need to keep in mind. First, make sure you're following all the different regulations, especially when it comes to data privacy. For example, in the European Union, you need to comply with the General Data Protection Regulation (GDPR), which has strict rules about how you collect and use customer data.

Cybersecurity is also super important, no matter where you're operating. You need to have strong security measures in place to protect your data from hackers. This includes things like firewalls, encryption, and regular security audits.

Your tech infrastructure needs to be able to grow with your business, whether that means using cloud services or building data centers around the world. Cloud services can be a good option for scaling quickly, but you need to make sure that your data is secure and compliant with local laws.

To balance a consistent global approach with meeting local needs, you need flexible systems. Using modular platforms, APIs, and localized services can help you run smoothly on a global scale while still being able to adapt to different laws, cultures, and business practices. For example, you might use a modular platform that allows you to customize your software for different regions, or you might use APIs to integrate with local payment processors.

The goal is to keep your operations efficient while making sure you're doing everything the right way in each country. This can be a challenge, but it's definitely possible with the right planning and execution.

Modernizing legacy systems can be daunting for large enterprises. What strategies have you found effective for managing the risks associated with upgrading technology while maintaining business continuity?

Modernizing legacy systems is like walking a tightrope between innovation and keeping your business running smoothly. I've found that a phased migration approach works really well. This means updating your systems piece by piece to minimize disruption. It's like upgrading your car's engine in stages instead of all at once.

You should prioritize high-risk areas and critical business functions first. For example, if your accounting system is outdated and prone to errors, that's a good place to start. A hybrid approach, where you integrate new technologies with your existing systems using APIs, can make the transition easier. Think of it like adding a new app to your smartphone.

Keeping everyone in the loop is crucial. Be open and honest with your team and stakeholders about what's happening. This builds trust and helps address any concerns.

Finally, a disaster recovery plan is essential. It's like having an insurance policy for your systems. If something goes wrong, you'll be prepared to get things back up and running quickly.

When developing scalable technology solutions, what are the common pitfalls to avoid, and what best practices should leaders follow to ensure that their solutions can grow with the business?

When we were building scalable technology solutions, we learned a few things the hard way. Over-engineering, not planning for the future, and ignoring security can really slow you down.

Instead, focus on building flexible systems that can grow with your business. Think of it like building a house with extra rooms for when your family grows. A modular, API-driven architecture is like having a toolkit that makes it easy to add new features. Cloud-based or hybrid solutions are great for scaling across different locations.

Security is super important. It's like putting a lock on your front door. You need to protect your system from hackers from the very beginning. And don't forget to keep an eye on how your system is performing. You might need to automate things to handle a bigger workload. By following these tips, you can make sure your technology keeps up with your business and doesn't slow you down.

With increasing customer expectations for personalized and seamless experiences, how should technology leaders approach the development of customer-centric solutions in the transportation sector? What role does data play in this process?

As leaders in transportation technology, we need to focus on creating solutions that customers love. This means making things easy and personalized, like using apps to get real-time updates and using AI to predict what customers want. For example, having a mobile app that allows users to track their rides in real-time, receive personalized recommendations, and even book rides directly from their phones. Using AI to analyze customer data and predict popular routes, allows to optimize services and reduce wait times.

Data is crucial here. It helps us understand what customers like and don't like, so we can offer better services and optimize routes. For instance, by analyzing customer feedback and ride data, we can identify areas where we could improve our pickup times and reduce cancellations. Using IoT and predictive analytics can also make things more efficient. For example, sensors on vehicles to track their location and condition, allows us to optimize routes and identify potential maintenance issues before they become problems.

Security is a big deal too. We need to protect customer data to keep their trust. Implementing robust security measures, including encryption and data anonymization, to protect customer information. By using advanced analytics, we can continuously improve the customer experience. For example, data analytics to identify trends in customer behavior and preferences, allows us to tailor our services to meet their specific needs.