CarMax partners with AI company UVeye for vehicle inspection systems; AI provides detailed reports in real-time.
CarMax, a used car retailer, has recently partnered with AI technology company UVeye to roll out AI-powered vehicle inspection systems across its wholesale business. The systems will assess vehicles and produce condition reports for buyers of vehicles sold at auctions. The technology scans the vehicle’s body, tires and undercarriage to produce a detailed report that includes high-resolution photos and detects missing parts, damage, leaks and other issues. The report is produced within seconds when the vehicle is driven through the system.
AI is being used across many industries to solve problems and deliver benefits. In this case, AI and high-definition cameras work together to produce vehicle condition reports in real time and with consistent and accurate results. This marks a significant step for both CarMax and UVeye in providing the best customer experience possible.
Outside of the automotive industry, AI is also being used to produce chatbots with humanlike conversation capabilities, give customers a detailed skin analysis and personalized beauty routine, and improve the stocking and inventory of grocery retailers. AI is proving to be a powerful tool in many industries, and its use will likely continue to expand as more companies discover the potential of the technology.
The PYMNTS study, “New Payments Options: Why Consumers Are Trying Digital Wallets”, found that 52% of US consumers tried out a new payment method in 2022. Many of these consumers chose to give digital wallets a try for the first time. This demonstrates that consumers are open to trying out new payment methods, and companies can capitalize on this by introducing innovative products that make payments easier and more secure.
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