Interviews
April 26, 2024
We interview our group AI expert John Prescott on Autorola’s plans to make AI more integral to future business processes
Autorola was an early adopter of AI when it started using the technology five years ago within the INDICATA business unit to further improve the accuracy of its pricing data.
INDICATA introduced AI technology over five years ago to resolve the challenge around identifying the correct model year and body type of the vehicle.
Vehicle Recognition
It does this by analysing key features on each vehicle image, such as headlights and fog lights that are unique to that specific make and model of vehicle. This accurately identifies the vehicle, therefore improving the quality of INDICATA data.
The group’s latest AI activation has been a successful collaboration with Autorola Germany where it was used in helping to automate the vehicle data extraction and validation process while ensuring the quality and accuracy of the information.
AI PDF extractor
This took the form of an AI PDF extractor which was able to locate, extract and process the required vehicle data needed to support the sale of vehicles on Autorola Germany’s auction platform.
The solution improved the speed and efficiency of the data validation process, as the human reviewers only had to check and confirm the information that AI PDF Extractor provided, rather than undertaking a manual search.
“There is no reason that in the future all our data-related processes will have some form of AI support behind them simply because it speeds up all elements of data extraction, analysis and reporting,” said John.
Automating data extraction
“The goal is to automate the data extraction and processing process as much as possible, with minimal human intervention, while maintaining the high standards of data quality and accuracy.
“That approach will benefit our customers and our internal teams both at our Odense HQ and within our subsidiary businesses.”
Vehicle descriptions are one key area where AI can add value. As more vehicle manufacturers have extended their model ranges so the levels of complexity have increased. That makes it more of a minefield when Autorola or its customers upload used vehicles onto the MarketPlace online platform. AI can help improve that data.
Improving imagery
Transparency of information when selling online is vital to achieving buyer trust and that includes imagery. Autorola can see AI playing a key part in improving imagery, including altering vehicle backgrounds.
“We are also seeing AI technology continuing to improve around filmed content which is another area which can support our business. AI object recognition is getting better and ultimately the aim is to provide the best quality data, whether we are helping customers buy or sell used vehicles.
“There is also a major benefit for our colleagues in using AI – many elements of data processing are repetitive and time consuming. AI takes away these more manual data processing tasks which helps improve job satisfaction – it also helps colleagues achieve more complex data workflow tasks more quickly and efficiently.
Speed and efficiency = cost benefits
“If complex tasks are completed more quickly and efficiently then there will always be a cost benefit which should not be overlooked.
“I like to think of AI as being the new industrial revolution for offices as there is a huge future potential in improving the workflows and processes of everything we do on a daily basis,” explained John.