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ArticleAutomotiveAI Inspection (automotive)

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Transforming the vehicle inspection experience with AI

It’s more difficult than ever before to conduct vehicle inspections. Dealerships, online used car dealers, fleet management companies and rental car companies are all finding it challenging to ensure they are done correctly and produce accurate results.

Some of the current paint points associated with vehicle inspections include the need to have a thorough understanding of the car’s condition, the time it takes to perform an in-depth inspection and ensuring an accurate condition report is prepared.

The use of AI addresses these pain points by providing expedited, consistent, and accurate analysis of damage. By utilizing AI, it is possible to create a scalable inspection process throughout the vehicle’s lifecycle to increase the visibility of its condition. It can also help boost efficiencies and vastly improve the vehicle inspection experience.

“We are going to see many more organizations move forward with AI,” said Jimmy Spears, Head of Automotive at Tractable.

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“AI can empower the three cornerstones of what is needed for a successful operation – speed, accuracy and service.”

LKQ Corporation, a leading alternative parts provider with more than $12bn in annual revenue, used Tractable’s AI Inspection tool for the bid-buying process with great success.

AI Inspection is capable of looking at 10,000 salvage vehicles for sale each day and assessing the condition of their parts. This enables LKQ to capture images and determine which cars have the least amount of damage and most usable panels to purchase for their inventory.

“Tractable’s technology is far beyond what others have on the market,” said Yogi Shivdasani, VP of North America Supply Chain, LKQ.

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“Anybody trying to break into this industry hasn’t even come close to what Tractable has been able to do.”

“It’s never been more important than now to assess vehicles in inventory,” said Spears. “While the adoption of AI is still in its early stages, it’s time for companies to begin charting a course for the future. AI can help get you to the front of the line by getting it right the first time.”

In the following white paper, information will be shared about AI and how it can be used to transform the vehicle inspection experience.

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