Auto industry gets geared up for expected tech revolution

The global automotive industry is facing a technology revolution for the next step of development, according to a PricewaterhouseCoopers survey.

The international consulting firm's 17th Annual Global CEO Survey showed that about 79 percent of 87 interviewed automotive CEOs in 34 countries believed that technological advances would transform business in the next five years.

It also revealed that 57 percent of those automotive CEOs currently have a strategy in place or a program underway or completed to implement a change around technology investments.