UK-based vehicle rental service provider Nexus Rental has launched new AI technology designed to automate pricing and quotes.
The company, which operates a fleet of 22,000 vehicles, has partnered with business decision intelligence platform Peak AI for the rollout.
The technology uses advanced AI models to input real-time data and automate the retailer’s Request for Quotation (RFQ) process, with the goal of providing optimised pricing to maximise bid returns.
The new technology is designed to enable faster quote creation and better rates, with the goal of maximising margin for manufacturers.
Nexus Rental said the implementation has already yielded positive results with the retailer now focusing on boosting its internal data science and engineering capabilities, which depend on a single basic model for assigning rentals.
Peter Ennis, chief technology officer at Nexus Rental said that the speed at which the AI tool delivers value “far outpaces building an in-house team”.
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For further information on Motorola Solutions’ retail security products, including body cameras, click here.
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