Canadian Firm Develops New Vehicle Data Capture Service
Artificial Intelligence slated to drive latest Cox Automotive software product
With connectivity being the buzzword in vehicle tracking technology, more and more players are jumping onto that seat of the digital data retrieval bandwagon. On Thursday, Canadian automotive technology company Cox Automotive announced a new service designed to speed up and boost the accuracy of vehicle inspections.
Scheduled to launch in September, the plans call for what Cox calls a new vehicle data capture service that can be adaptable to other digital suites on the market with an artificial intelligence application called PAVE, supplied by Toronto-based digital firm Discovery Loft. Today, Cox Automotive Canada released plans for a new vehicle data capture service that will support evolving digital solutions suite of products including Dealer.com websites and MUVIT, a new dealer-to-dealer digital auction platform. The vehicle data capture service will be powered by PAVE, an artificial intelligence driven inspections application in partnership with Discovery Loft.
“Cox Automotive Canada continues to be at the forefront of innovation, bringing improvements to the Canadian automotive marketplace by delivering insightful industry-leading advancements and technology that drive benefit for our partners,” said Stephanie Turner, Director, Product and Corporate Strategy, Cox Automotive Canada. “In partnership with industry innovators Discovery Loft, this new AI-enabled offering continues the digital-first evolution of the Cox ecosystem and enables real-time benefit.”
“Cox is a great partner and has many use cases that will benefit from PAVE’s integration,” added Brian Steinhauser of Discovery Loft.
One of the service’s primary uses include allowing original equipment manufacturers, dealers and car rental companies to take advantage of detailed information captures to provide accurate readings of the status of any vehicles in their fleets, using their vehicle management software. Those who buy into the application will have the added benefit of security in terms of owning all the data captured by Cox’s service.
Car rental companies have the added benefit of being able to use the technology every time a vehicle in its fleet changes hands. Between each booking, a more thorough and speedier inspection using Cox’s PAVE-driven platform will cut down on waiting times involving any vehicle in the fleet.
According to Discover Loft, its PAVE technology could save up to $2 billion annually in inspection and maintenance costs and up to 80 million hours of labor across North America.
While Cox did not announce plans to expand the service outside Canada, it did cite the used car market as a primary target market. The service is also designed to integrate with the dealer.com website and car auction company Mannheim’s MUVIT technology to assess the condition of second-hand vehicles.