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Penske Truck Leasing Introduces Catalyst AI for Fleet Management

April 19, 2024, 07:18 AM
Filed Under: Technology

Penske Truck Leasing unveiled Catalyst AI; an industry first AI platform set to revolutionize fleet management that delivers real-time insight into fleet performance. Catalyst AI marks a pivotal shift away from traditional industry benchmarks, empowering fleet managers with actionable intelligence to optimize fleet performance using dynamic comparative data.

The Catalyst AI platform compares a fleet’s performance to similar fleets across Penske’s live database of hundreds of thousands of vehicles in real-time. This platform enables leaders to benchmark their fleets using apples-to-apples comparisons, unlock fuel efficiency opportunities, optimize utilization, and business performance using targeted insights.

New industry research found 77 percent of transportation professionals tend to rely on historical, annual forecasting and industry benchmark reports to inform their fleet planning and procurement decisions. For fleet managers, this process is often manual, time consuming and relies on data that may not holistically compare to their specific fleets.

“Catalyst AI was born from our vision to harness the power of AI to meet the needs of today’s fleet managers,” said Ann Walsh, senior vice president of digital and customer data at Penske. “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.”

Penske Truck Leasing is ushering in a new era in fleet management by enabling fleet managers to evaluate fleet performance. At the heart of Catalyst AI lies its patent-pending algorithm that identifies the most-similar fleets by evaluating key dimensions of fleet operations and composition. This process creates a unique "fleet DNA," enabling highly customized operational KPI benchmarks tailored to each fleet's specific performance needs.

“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,” said Sherry Sanger, executive vice president of strategy and marketing for Penske. “This cutting-edge technology enables businesses to unlock new efficiencies, reduce costs, and ultimately, sets a new standard for fleet performance.”

Catalyst AI represents a game-changer in fleet management. In an industry first, fleet managers will have access to actionable insights and intelligence to unlock the full potential of their fleets. To test drive the power of Catalyst AI’s fleet benchmarking technology.

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