Penske Truck Leasing unveiled Catalyst AI, an artificial intelligence platform for fleet management that delivers real-time insights into fleet performance.
The Catalyst AI platform compares a fleet’s performance to similar fleets across Penske’s live database of thousands of vehicles in real-time. The platform enables fleet managers to benchmark their fleets using like-to-like comparisons to support fuel efficiency, utilization optimization and business performance.
According to Penske, 77% of transportation professionals tend to rely on historical, annual forecasting and industry benchmark reports to inform their fleet planning and procurement decisions.
“Catalyst AI was born from our vision to harness the power of AI to meet the needs of today’s fleet managers,” Ann Walsh, senior vice president of digital and customer data at Penske, said. “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.”
At the heart of Catalyst AI lies Penske’s patent-pending algorithm that identifies the most similar fleets by evaluating key dimensions of fleet operations and composition. This process is meant to create a “fleet DNA” that enables 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,” Sherry Sanger, executive vice president of strategy and marketing for Penske, said. “This cutting-edge technology enables businesses to unlock new efficiencies, reduce costs and, ultimately, sets a new standard for fleet performance.”
