Ravin AI has developed a proprietary, patented AI-based inspection system for Car rental companies. the company said that the system helps allocate damage more accurately, increasing the car rental company’s ability to collect damage by almost 30% and keep vehicles running.
according to the company, In 2021, the global car rental market was valued at $103.14 billion, and is projected to reach $141.17 billion by 2028 – a CAGR of 4.6% from 2021 to 2028.
Ravin AI: “The car rental industry’s transformation is being propelled by increasing tourism, a rise in the global population’s disposable income, and technology-enablement. Among these technological advancements, Artificial Intelligence (AI) has emerged as a revolutionary tool, especially in detecting hidden car damages and fraudulent claims. These pain points cost the industry hundreds of millions of dollars annually”.