IIT Delhi, Shriram Automall to enhance pre-owned vehicle valuation platform

NEW DELHI: Pre-owned vehicles and equipment marketplace Shriram Automall India Ltd on Tuesday said it has inked a pact with Indian Institute of Technology (IIT) Delhi's Yardi School of Artificial Intelligence to enhance its in-house developed pre-owned vehicle valuation platform ThePriceX.

Through this exclusive agreement, the IIT-Delhi team will provide expertise to improve the accuracy of ThePriceX, which assists in predicting the value of pre-owned vehicles from any source and geography, real-time, through statistical modelling, machine learning and other complex artificial intelligence algorithms, the company said in a statement.

Shriram Automall India Ltd (SAMIL) will provide its decade-long expertise on pricing and valuation data of pre-owned vehicles and equipment, it added. SAMIL Director and CEO Sameer Malhotra said through the strategic tie-up with IIT Delhi, its technology team will work together on the enrichment of the already advanced pre-owned vehicle price prediction tool ThePriceX.

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SAMIL said ThePriceX, an advanced price prediction engine, is already being used by leading banks, insurance companies, NBFCs as well as OEMs. Users get data-driven results on the basis of lakhs of successfully transacted vehicles over the past 11 years.

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