ATLANTA — Combining powerful analytics with Cox Automotive’s data assets, RMS Automotive announced the launch of Optimization, an AI-powered product suite designed to provide clients with vehicle-specific insights that drive data-driven decisions and improve overall portfolio performance.
The AI approach enables these solutions to leverage large amounts of data to make scientific, prescriptive recommendations that are fast, automated, integrated with client systems, and dynamically updated as market conditions change, said Dr. Ben Flusberg, the company’s associate vice president of decision support.
“We are doing exciting work that is pushing the boundaries of the vehicle remarketing industry,” Flusberg said. “Clients are experiencing increased pressure on performance. To help them succeed, we blend artificial intelligence, technology and unmatched industry perspective and take their portfolio performance to the next level. While some players are talking about AI and machine learning, we are actually using it today to improve our clients’ business performance.”
The RMS Optimization product suite — Pricing, Location, and Reconditioning — provides clients with VIN-specific recommendations, including how to price vehicles most accurately, where to best distribute inventory across physical wholesale auctions, and how to optimally recondition vehicles prior to sale. Pricing and Location Optimization are available today and live with several clients, while Reconditioning Optimization is set to launch soon, all according to the announcement.