Ford, Rocket Mortgage leaders say they've reached inflection point in respective industries
Ford, Rocket Mortgage leaders talk tech changes in industry
Industries all over American have reached "a pivotal point" in history, the chief technology officer of Rocket Mortgage said Wednesday during a Q&A with other industry leaders in Detroit. Ford's chief operating officer at its electric vehicle company agreed.
DETROIT (FOX 2) - The phrase of the day at a Q&A between some of Michigan's top technology leaders discussing some of the ground-shaking advancements percolating in society was "disruption."
Ford and Rocket Mortgage, two of the major players in Detroit and leaders of their respective industries, are interested in keeping up with new inventions of the day. But they're equally concerned about being left behind if they don't adapt to the changes that technology brings.
"I do believe we’re at a pivotal point in our history," said Josh Zook, chief technology officer at Rocket Mortgage.
Zook said the best evidence of that is the convergence of mainstream internet functions and artificial intelligence.
"That is changing things quite drastically on what it's able to provide and one of the areas it's helping right now is helping humans making better decisions with the vast amount of information that’s out there," he said.
Zook was joined by Marin Gjaja, the chief operating officer of Ford Model E, as well as Arlene Harris, a wireless telecommunications expert.
For the Detroit automaker, Gjaja said Ford has dipped its toes into newer technology in an effort to integrate them with their own electric vehicle models. Failing to do so would mean the company would be left behind.
"It's a one-way door. Once consumers start using EVs, and they adjust their behavior, they don't go back," he said Wednesday.
The Detroit three automakers are all working on making the industry-wide shift toward battery-powered cars and trucks. The theme hovered over labor contract negotiations with the United Auto Workers Union, which serves as an indication of the significance of the moment for the industry.
The dramatic shift in consumer behavior, Gjaja argued, posed a "colossal strategic threat" to their work - especially as other companies try to move in on their coverage.
"That's not just Tesla, it's BYD, it's Li Auto, it's Geely, it's all of the companies in China that are building tremendous scale and are ahead of us," he said.
Regulatory changes are expected to follow the momentum in the U.S. in hopes of keeping up with other countries also trying to keep up.