Reading-based Penske Truck Leasing recently launched Catalyst AI, an artificial intelligence platform that delivers real-time insight into fleet performance.
“Catalyst AI was born from our vision to harness the power of AI to meet the needs of today’s fleet managers,” Ann Walsh, Penske senior vice president of digital and customer data, said. “By integrating over 57 billion data points with AI, our patent-pending algorithm and industry expertise enables fleet managers to better optimize their operations using leading-edge technology.”
The platform compares in real-time a fleet’s performance to similar fleets in Penske’s database of vehicles, and enables fleet managers to benchmark their fleets, unlock fuel efficiency opportunities, optimize utilization, and business performance using targeted insights.
The majority of transportation professionals, 77 percent according to industry research, rely on historical, annual forecasting and industry benchmark reports to inform their fleet planning and procurement decisions. The often manual process is time consuming and relies on data that may not compare to their specific fleets.
Catalyst AI uses a patent-pending algorithm that identifies the most-similar fleets by evaluating key dimensions of fleet operations and composition.
Penske operates and maintains more than 442,000 vehicles and serves customers from more than 980 maintenance facilities and more than 2,600 truck rental locations throughout North America.