Shriram Automall Ties -Up With School Of Artificial Intelligence At Iit Delhi For Further Enhancing Its Pricex The Online Pre-Owned Vehicle Price Prediction Platform For Pre_Owned Vehicles
India's Leading Marketplace for Pre-owned Vehicles and Equipment, signed an agreement with Yardi School of Artificial Intelligence, IIT Delhi to enhance their in-house developed pre-owned vehicle valuation platform ThePriceX, which assists in predicting value of any pre-owned vehicle from any source and geography, real-time.
Through this exclusive agreement, IIT-Delhi team headed by professors Prof. Mausam and Prof. Sayan Ranu will provide the expertise to improve the accuracy of ThePriceX tool through statistical modelling, machine learning and other complex artificial intelligence algorithms and while SAMIL will provide its decade long expertise on pricing and valuation data of pre-owned vehicles and equipments.
ThePriceX is an advanced price prediction engine. It is aimed at solving a major problem of vague and distorted value of vehicles and equipment which overshadows the pre-owned marketplace in the country. It is already being used by all the leading banks, insurance companies, NBFC's as well as OEM's. ThePriceX is a scientific & insightful approach towards price discovery. Users get the data driven results on basis of lakhs of successfully transacted vehicles over the past 11 years.
The buyers can know the right value of the vehicle in just 3 simple steps. The sellers are able to use the tool to know the right value of vehicle and save them from getting the loss. Even the used vehicle dealer can acquire used cars at a right price and save themselves from paying a huge margin to middleman. ThePriceX is also beneficial for new vehicle dealers as they can get the right exchange value for the used vehicles to ensure a smooth and hassle free transactions. With this the Original Equipment Manufacturers (of Cars, Trucks, Construction equipment, Tractors, Bus, two and three wheelers etc.), Insurance Companies, repo Companies, Ride & Taxi Hailing, Banks and NBFC's will also be benefitted.
Sharing his views over the tie-up, Mr. Sameer Malhotra, Director and CEO, (SAMIL) said: "We are glad to announce SAMIL's strategic tie-up with IIT Delhi where the best brains of India and SAMIL's technology team will work together on enrichment of already advanced pre-owned vehicle price prediction tool, ThePriceX. ThePriceX is one-of-its kind valuation tool that will help a slew of clients with their problem of fuzzy valuation of vehicles and equipment within seconds. SAMIL has been a frontrunner in providing technological solutions in the pre-owned vehicle and equipment space and we are confident on sustaining that image."