Ki Mobility’s myTVS will launch a synthetic intelligence (AI)-led diagnostics platform later this week which is able to cater to the aftermarket section that may assist clients monitor their automotive’s well being and assist technicians at service centres with a number of features together with figuring out the place the scratches and dents are by merely taking an image of the automotive to quoting how a lot it might value a buyer to get their automotive mounted.“The linked diagnostics platform has been branded ‘Drivenostics’. It gives clients the selection to diagnose their automobiles and is on the market throughout 1,000 shops, permitting for a stay well being file of the car,” Ki Mobility’s managing director G Srinivasa Raghavan advised ET. “We name the service mannequin the uberisation of service for a contemporary, on-demand method to car restore.”
Whereas the product is presently free for purchasers, quickly the corporate will look to monetise it. The addressable marketplace for the service is estimated to be 10-12 million autos for starters, with a selected deal with these autos which can be 4-meters and above in size.
“The plan is to ultimately present this knowledge to 3rd events like insurance coverage businesses as nicely,” mentioned Raghavan. “We work with round 23 insurance coverage firms. Very quickly we might be launching myTVS particular insurance coverage in collaboration with an insurance coverage accomplice and the diagnostics platform would be the built-in product for that.”
He mentioned all of the suggestions, together with methods to deliver down the price of restore, enhance asset high quality and even the resale worth of the automotive, are invaluable for insurance coverage firms as they will cut back the price of possession of the car.
Seeing the worth that the answer can present, the corporate can be piloting initiatives within the UK and Turkey to take the AI-led diagnostics platform to a thriving business car market.
“We’re doing pilots presently within the UK and Turkey for business car fleets particularly,” Raghavan mentioned. “We see a major alternative for this if the pilot is profitable within the European area as it’s a huge business car market. We might be observing how issues progress until March and probably scale it up subsequent 12 months.”
He mentioned if the pilot is profitable, it might open up an avenue of alternative like IT outsourcing did for aftermarket car administration.
