Ravin AI Granted Patent for Vehicle “Damage-Finder” System
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
Ravin AI, leader in developing AI-enabled vehicle inspection tools, announced a European patent for its Vehicle Damage-Finder Stationary Modeling System. The technology leverages stationary cameras to capture a car’s image and provide a comprehensive vehicle damage report by cross referencing a vehicle with its computed model. This enables the inspection of individual parts of a moving vehicle and increases report accuracy without limiting image taking angles, ultimately leading to improved fleet management, transparent car rental and repair shop experiences, faster and more reliable insurance claims, and fairer used car prices. The patent includes Great Britain, Germany, Italy, France, Spain, and is the first-of-its-kind in the field of AI-powered visual inspection.
AI and ML News: Why SMBs Shouldn’t Be Afraid of Artificial Intelligence (AI)
Rather than relying on an OEM database or blueprint of a vehicle, Ravin’s damage finder uses an algorithmic modeling system, which is able to compute a vehicle model, recognize what and where certain parts are, and identify anything that is “foreign” to a car (dirt, stickers, damage, etc.) by cross-referencing the car model with the actual vehicle. Comparing the vehicle to its own model eliminates the need to train the AI to identify millions of images. This allows for detailed inspection of a vehicle’s parts, improving both sensitivity and accuracy.
The newly patented technology has already been successfully deployed in numerous locations, including London Heathrow Airport, in partnership with Avis.
Top Artificial Intelligence Insights: Determining the Potential of Your AI Algorithm Starts with Measurement
“This patent is a significant vote of confidence in our technology as a game changer in vehicle damage assessment,” said Eliron Ekstein, CEO and Co-founder of Ravin AI. “Not only do our algorithms save time by improving analysis efficiency, they also do not interfere with fleet management operations. Our unique technology is already creating a more coherent and trustworthy system of vehicle appraisal for consumers and businesses across the continent, helping fleet managers, insurance firms and car rental agencies streamline their operations and improve customer experience.”
Ravin AI is an international provider of automated artificial intelligence solutions for vehicle inspections serving diverse fleet, insurance, and remarketing customers around the world. Unlike other marketplace solutions, Ravin does not require its customers to purchase or install dedicated hardware but rather uses mobile and CCTV cameras. Ravin AI was founded in 2018 by Eliron Ekstein and Roman Sandler, and has raised $25M to date from various investors.
Read More About AI News : AI Innovation Supports Rural and Remote Internet Connectivity
[To share your insights with us, please write to firstname.lastname@example.org]