Pennsylvania-based Penske Truck Leasing, a truck leasing and fleet maintenance company, recently launched Catalyst AI, an artificial intelligence platform that delivers real-time insight into fleet performance.
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.
A total of 77 percent of transportation professional rely on historical, annual forecasting and industry benchmark reports to inform their fleet planning and procurement decisions, according to industry research. The often manual process is time consuming and relies on data that may not compare to their specific fleets.
“With innovation at our core, Penske is committed to developing solutions that drive efficiency and performance for our customers. Catalyst AI addresses the critical need for comparative, real-time insights in fleet management,” Sherry Sanger, Penske executive vice president of strategy and marketing, said. “This cutting-edge technology enables businesses to unlock new efficiencies, reduce costs, and ultimately, sets a new standard for fleet performance.”
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.