Ravin uses computer vision and deep learning to inspect vehicles using most camera types, under most physical conditions, removing the hassle and cost in renting, insuring or buying vehicles.
A ride in a rented car was once nothing more than a means to an end, a necessity for tourists, business travelers or for those whose cars were temporarily out of commission. But in today’s digitally driven world, the ride has become an experience — one that car rental companies are constantly striving to improve. Big data has emerged as the cornerstone of this transformation, driving efficiency, profitability, and growth in a sector critical to global transportation. With an estimated valuation of $92.92 billion in 2020, and a fleet running into the millions worldwide, the car rental industry enables mobility for a vast array of customers. Yet, the sector is ripe for disruption. The integration of big data, coupled with the application of artificial intelligence (AI) and machine learning (ML), can unleash a wave of innovation that stands to revolutionize the car rental experience.
September 20, 2023 First it was Japan, then Korea—and now it’s China that is contending for the crown as the world centre for auto manufacturing. That crown, of course, once belonged to the US, particularly Detroit. But it’s been decades since America has been seen as the world leader in auto manufacturing. Over the past decade or so the auto industry has been reinventing itself, with electric vehicles (EVs), autonomous driving, and advanced onboard AI systems turning cars into computers on wheels. And that reinvention provides a potential opportunity for the US to return to its former leadership role, setting trends and advancing the technology that will power the vehicles of tomorrow.
When someone buys a car, registers a car or sells a used car to someone else, at least three people are involved: the buyer, the seller – and the inspector. Those individuals are crucial for all car transactions, whether to ensure that the vehicle is roadworthy, to fulfill government mandates for safety inspections or to just give buyers confidence that they’re paying a fair price. Increasingly, inspections are being performed by remote systems, where instead of physically scouring over individual vehicles, inspectors remotely analyze images and data about vehicles to determine if they are roadworthy, if they have sustained damage in an accident, if they are worth the listed price or if they have some hidden engine issues. And as technology improves – with advanced sensors and imaging systems uploading data and images over near-zero latency communication systems, coupled with next-generation AI and data analysis – the trends that have already made individual, in-person inspections a shrinking industry will continue.
The global automotive industry has made a significant effort to reduce its carbon footprint, especially as regulation ramps up in regions like the UK, where the country plans to transition to zero emission vehicles by 2035. Increasingly, carbon reduction efforts in the automotive industry are extending beyond simply reducing emissions from driving. This focus on sustainability is now contributing to a growing interest among insurance companies, auto resellers and large fleet managers in repairing vehicles in a less carbon-intensive manner, including fixing rather than replacing parts. Those businesses carrying out repairs are also increasingly concerned about reducing emissions, and are shifting to repairing parts whenever possible, especially since the PAS2060 certification (which verifies that businesses are carbon neutral), became available to automotive repair shops in the United Kingdom.
Ravin AI, an Israel and U.K.-based startup developing AI to autonomously inspect vehicles for damage has expanded to South Africa.
Ravin AI, a leader in AI-powered visual inspection across the fleet, rental, used car and insurance industries, announced Thursday its launch into the South African market and its strategic partnership with Alder Grove Automotive, one of the country’s fastest-growing fleet management companies.
New technology is making it possible for used-car dealers and auction companies to move their businesses online and still make a profit.
Ravin AI and IAG to work together to explore deployment of Ravin's AI-powered visual inspection solutions across a range of IAG's insurance brands to streamline the condition assessment, maintenance and repair of vehicles and commercial motor fleets.
More than 40,000 new vehicles enter the port each year, and Ravin will verify the physical integrity of each vehicle
Gauge selects Ravin AI as a partner and will be using Ravin's technology to speed up and increase consistency with car inspections. Learn more by visiting www.ravin.ai.
Polls show consumers prefer to shop for vehicles online.
Ravin AI, leader in AI-enabled vehicle inspection tools, today announced it was named one of TIME’s Best Inventions of 2022. Ravin AI was chosen in the AI category and is one of 200 innovations selected in 27 different categories.
AI-based data analysis, along with advanced images produced by computer vision systems, can thus help insurers build a better relationship with customers and provide more accurate results for everyone involved. Advanced technologies can help build a trusting relationship with customers by helping them offer coverage and set premiums that customers can afford or evaluate payments after incidents. With advanced technology, insurers can protect their interests while making their customers happier – a win-win for both sides
The book value of a used vehicle is only a starting point; to establish a potential retail price, one needs to assess the actual physical condition.
Ravin uses AI to remove any guesswork. The app works with CCTV and smartphone cameras to detect even the slightest vehicle damage and generates a complete vehicle condition report, including damage severity and repair estimates.
Hertz pilot Ravin's AI visual inspection technology to improve efficiency and customer satisfaction
Inspecting a vehicle shouldn't be a lengthy process. Ravin's technology utilizes #artificialintelligence while automating the process. Check out Eliron Ekstein's interview with just-auto.com, the automotive industry news & information site.
Ravin AI has developed an application that allows anyone to perform an inspection of the vehicle's physical condition using their smartphone. "The solution is suitable for garages, trade-ins, auctions and rental companies. In fact, for anyone who transfers a car from hand to hand".
Such a blast chatting with Rami Shani from Galatz, a leading Israeli radio station. Our CTO, Roman Sandler and Product Manager, Omer Perry, chatted about technology, car inspections, and what makes Ravin unique. Check out the podcast here.
Like Tom Cruise in the original Top Gun, many drivers have a “need for speed." Nearly 90% of drivers admit to occasionally speeding! Are you one of those? What if all vehicles are controlled by a central server with internal speed controls? Would car congestion simmer down? Check out Roman Sandler, Ravin's CTO, thoughts with Automotive News Europe below.
Advanced data analysis and machine learning will allow OEMs to parse through real-world data about how vehicles behave under specific driving circumstances, writes Ron Soreanu
AI can help insurance companies assess damage through one's smartphone. Simple and easy as 1-2-3. Product Manager, Omer Perry chatted in Hebrew with Adif communications about Ravin's technology, how to automate a time-consuming process, while expediting the claim side.
“We are delighted to welcome Ravin to the PartnerConnect ecosystem as our newest Solution partner,” said Becky Mattick, vice president, Global Solution Alliances, Guidewire.
When completed, Ravin’s Ready for Guidewire integration will enable Guidewire users to access its vehicle inspection tool from within ClaimCenter, expediting and enhancing the vehicle inspection process.
We are excited to announce a new partnership with Guidewire Software, the largest property and casualty insurance carrier in the U.S. and worldwide.
In order for Israeli technology to get out there, it needs to be tested and perfected and the best place to do that is in Israel itself.Eliron Ekstein shares his thoughts and a few tips with the Jerusalem Post:
Used cars often come with a hidden catch: an accident not properly disclosed, or a transmission that is near the end of its life. Electric vehicles (#EV) are no different but, for them, the hidden catch often comes in the form of the health of a vehicle’s battery.
Ravin AI is an automated vehicle inspection tool that uses advanced computer vision and deep learning to track any car damage while generating a 360° condition report. The app is accessible from stationary hardware, such as CCTV cameras or from a smartphone.
AI tools can make recommendations on services needed or expected problems and repairs.
The initial partnership launched over two years ago, and until now, has seen Buggy using the Ravin Inspect™ app to scan its fleets, automating the check-in and check-out processes. The extended partnership now gives Buggy the ability to conduct more scans and inspections in less time, enabling the company to continue to scale - supporting operations in Mexico and additional cities in the US, while also offering its drivers insurance plans.
“As demand for mobility rises, RAVIN offers our drivers expedited inspections and improved vehicle maintenance and insurance coverage” Amit, SVP Commercial
The role of #AI is expanding: it is no longer about receiving images and analysing them, but also supporting the user in capturing the right ones up front.
Most folks don't know what they are looking at or how to perform a car-self inspection. This is where artificial intelligence and Ravin AI come in. “We see a need to inspect vehicles by non-professionals aka 'ordinary people' like you and me,” said Eliron Ekstein during his Forbes interview. "Traditionally, one would bring a car to a local dealership, bodyshop, or auto action and have a specialist take a look at it. With Ravin's virtual guidance, companies can instantly understand the condition of a car, saving on time and money".
Ravin’s patented technology leverages stationary cameras using deep learning AI algorithms to enhance vehicle report accuracy and improve transparency between car users, service providers, and businesses
This will be the first time in Israel that a company will be able to provide its customers with a technology that can assess car damage directly from their mobile phones without any human participation
Ride-sharing has not “killed'” private car ownership, as some had supposed. Studies show the majority of Americans still want to own and drive their own vehicles, and car retailing indeed remains the largest consumer category in the U.S. economy.
Investors will be looking for signs that startups have what it takes to weather the storm; the more startups can demonstrate that they have those capabilities, the more likely they will be to pass investment litmus tests.
#Risingprices for new #cars are impacting the pocketbooks of not just those in the market for a vehicle but affecting almost every aspect involving cars.
Ravin's Inspect Trade tool utilizes computer vision and deep-learning artificial intelligence, as well as dozens of exterior and interior photos of vehicles and other unique vehicle data for 360-degree visibility.
One of the oldest debates in history—privacy versus security—is undergoing a postmodern update—with privacy advocates accusing Tesla of enabling the invasion of privacy via its built-in camera-based security system.
The EcoMotion 2022 conference displayed a variety of technologies that prove the awesome potential of AI in the future of automotive technology.
When it comes to climate change and greenhouse gas emissions (GHGs), the United States is moving backward, according to a report released earlier this year by the Rhodium Group, an independent research organization.
Jim O’Brien, general manager, Americas at RAVIN.AI, discusses how AI can be used as a tool to increase transparency in used car sales
Ravin.ai specialises in vehicle inspection with the use of AI and computer vision, tools which allow insurers to assess the specific damage of a car and write policies with more accuracy.
Ravin AI, which uses artificial intelligence to inspect vehicle fleets for damage to the vehicle's shell and to receive a quick, efficient and accurate assessment report without human contact, is recruiting employees for offices in the bustling center of Haifa's downtown
As innovation is reaching new heights with connected and autonomous vehicles, the auto insurance industry is also experiencing its own evolution
As we move further along in 2022, the rental car industry is finally gaining momentum following a downturn brought on by a combination of the pandemic and the ongoing vehicle shortage.
Establishing a truly user-centric culture in a tech company—especially among the development team—takes more than empty platitudes. Below, 15 members of Forbes Technology Council share practical ways to build a user-centric culture in a tech company.
A number of used-car auction houses are dismissing the concerns of some about artificial intelligence to embrace the technology that helps hone the vehicle imaging and inspection process.
Ravin.ai is excited to announce a new partnership with Sapiens, a leading global provider of software solutions for the insurance industry. Sapiens will offer their customers access to automate vehicle claims through Ravin’s damage detection software.
The AI-enabled app gives car dealers the ability to remotely inspect and assess consumer trade-ins, vehicles at auction, and other inventory.
The AI-enabled app gives car dealers the ability to remotely inspect and assess consumer trade-ins, vehicles at auction, and other inventory
By using artificial intelligence to reduce the number of wasted, non-revenue-producing miles put on vehicles, fleet managers can cut carbon emissions, as well.
Looking at tech stock performance since the beginning of 2022 can give you quite the chill. Are we back in 2001, or is this a minor correction that the industry experiences every five years?
It’s no secret that AI is changing industries and businesses of all types. Medicine, education, retail, manufacturing, automotive, and many others are impacted by advances in machine intelligence, also known as machine learning, neural network technology, natural language processing, or simply AI.
12 members of Forbes Technology Council share new or upcoming environmentally focused technologies and practices that could have a truly positive impact, and why.
In many companies, an in-house IT team develops the various tech tools used by the staff to complete and manage their work. Additionally, companies that build B2B tech products often opt to “eat their own dog food” and use the same tools that they sell or license for operations themselves. In either case, dev teams often find that their own team members can be their toughest clients.
The commercial progress and success of AI has indeed been slower than many expected - but that “delay” can actually work in favor of business.
Jiim O'Brien explores the outlook for the retail sector in the wake of the changing automotive landscape.
With the recent widespread shift to digital-based work and transactions, many companies are working toward digital transformation. Whether it be updating legacy tech, adopting new tools in-house or making the move to the cloud, such transformations can prove to be complicated and costly if they’re not carefully planned.
Digital payment technology has made it possible for anyone with a smart device to conduct transactions easily and securely, both in person and online. Both companies and consumers are embracing digital payments as a fast, reliable and contactless way to exchange money, but there are still innovations and improvements to be made.
Commuting is the worst. Rent is too high. Choosing a lesser-known city for your HQ solves both issues — and more.
Ravin AI co-founder and CEO Eliron Ekstein is back on the Auto Remarketing Podcast to talk about the investment appetite in the inspections space, the importance of inspections technology in the wholesale car market and the role of artificial intelligence.
Let’s face it: car inspections suck. They take too much time and can be very subjective. If we want to make the process more efficient, then AI-assisted vehicle inspections are the way of the future. Chad Burmeister sits down for an interview with the CEO of Ravin.AI, Eliron Ekstein.
“Ravin AI has developed the most powerful and progressive computer vision, deep learning, and self-inspection solutions on the market.״
KAR Global, a leading operator of digital marketplaces for wholesale used vehicles, announces a strategic investment and North American commercial partnership with Ravin AI.
Ravin AI is bringing trust and transparency to the automotive industry by applying computer vision and machine learning to help make vehicle inspections faster, more efficient and more consistent.
RAVIN.AI lands Fraser McCombs-led investment, announces GM for Americas
Ravin.AI is an automotive company that uses deep learning AI technology and computer vision to autonomously inspect vehicles for damage.
Ravin is using AI to help automate the process of vehicle inspections and reduce headaches for car rental agencies, car dealers, insurers and all of these companies’ customers.
Avis is working with Ravin, a startup that specializes in automated vehicle inspections for fleet operators and insurance companies.
Our recent interview with Eliron Ekstein, Co-Founder and CEO of Ravin.
Ravin.AI Raises $4M Every five seconds, somewhere in the world, a car is damaged, causing over $100 billion in annual losses.
RAVIN provides greater transparency to rental car companies, fleet owners and user car sales networks.
These were the biggest European tech startup news stories this week. UK-Israeli startup Ravin raised $4m to apply AI to vehicle inspections.
London AI startup Ravin.AI has just closed a $4 million funding round supported by investment from global energy giant Shell.
The technology can detect more damage than humans can, Ravin says, while significantly reducing inspection costs.
Ravin AI’s technology uses computer vision and deep learning to create a real-time image of vehicles in order to detect and analyze car damage.
Ravin.ai, an Israel and U.K.-based startup developing AI to autonomously inspect vehicles for damage, has closed a $4 million seed round. The investment was led by Pico Venture Partners, with participation from Shell Ventures and “automotive entrepreneur” Adam Draizin. It marks Shell Ventures’ first Israel investment.