McCormick said one of the most critical future advancements is related to blockchain.
“Blockchain is basically a mathematical structure for storing data,” explained McCormick. “Everything in blockchain is connected.”
For example, a collision repair shop could log all of the repair work and use blockchain to locate a part for the specific model of vehicle in one place, and the information would be accessible to other segments of the industry.
He used the example of a shop trying to locate a part for a 5-year-old vehicle. Using blockchain, “You could locate that part almost instantaneously,” he explained. “Anytime you can reduce the amount of time you are doing something, you become more efficient and effective; therefore, more profitable.”
Blockchain could also be used to ensure valid parts are being used on a vehicle.
McCormick highly recommends educating technicians on the use of this technology to ensure they are trained properly.
“It’s a tremendously new skillset and people who have this understanding are going to be in the highest demand,” he said.
For more information, email Scott McCormick at email@example.com.