Blockchain and AI becoming favorites for Porsche

Do you remember Porsche? you know, one of the most notorious brands in the luxurious automobile industry? well, they have just come out with a statement that they will be looking at investments in the Blockchain and AI department. But what does that mean exactly? what will they be looking for?

Well, the press release showed that the plan was for 5 years and it had $176 million in mind, the investment will be given to companies whose main focus are artificial intelligence or blockchain. Therefore if you’re a CEO or a representative of a company of these two types, you know who to contact.

The press release also shows that no matter how much adapting and confirming the company will have to do, they have to catch up with the modern trends. This shows resilience with companies like Porsche, companies who are willing to step it up and see the future of business rather than stay within their comfort zone and operate conservatively. The German automobile industry is sure to follow with this decision made by Porsche.

Also adding to that, Porsche is also willing to invest in companies that are just getting their feet out of the door, for example if you are a company in the early stages of development or have already hit the market and are trying to grow, you will be the key focus for Porsche to invest in you, so make yourself visible and start the hustle. Of course, you can’t be any company, you need to be focused on improving the digital world for the consumers.

Companies are starting to recognize the importance and impact of blockchain en masse. They are starting to understand that fast-moving technologies like artificial intelligence are the key to the future and the key to the new generation of customers. Therefore if this automobile giant wants to be able to compete with the new players of the 21st century it needs to reinvent its business model to be a lot more technology based.

The inspiration to this investment was the cooperation that Porsche had with a German blockchain technology startup called XAIN, let’s hope that their cooperation and this investment will help the companies and the consumers both reap the benefits.

Konstantin Rabin

About the Author: Konstantin Rabin

Konstantin has been working in the financial services industry since 2011. He is over-viewing various updates in the technology, regulation, and market movements. He's passionate about games and has a cute cat named Dog.

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