The leading marketplace for pre-owned vehicles and equipment, Shriram Automall India, has announced its partnership with Yardi School of Artificial Intelligence, IIT Delhi to enhance its in-house developed pre-owned vehicle valuation platform ThePriceX.
The platform assists in predicting the value of any pre-owned vehicle from any source and geography in real-time.
Under this partnership, the IIT-Delhi team heaed by professors Prof Mausam and Prof Sayan Ranu will provide the expertise to improve the accuracy of ThePriceX tool through statistical modelling, machine learning and other complex artificial intelligence algorithms, while SAMIL will provide its decade long expertise on pricing and valuation data of pre-owned vehicles and equipment, an official statement from the company stated.
Sameer Malhotra, Director and CEO, SAMIL, said, “ThePriceX is one-of-its kind valuation tool that will help a slew of clients with their problem of fuzzy valuation of vehicles and equipment within seconds.”
The platform is aimed at solving a major problem of vague and distorted value of vehicles and equipment which overshadows the pre-owned marketplace in the country. It is claimed to be being used by all the leading banks, insurance companies, NBFC’s as well as OEM’s.