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Toyota Financial Services France, relies on Monk AI technology to launch its TFS Care end of contract vehicle inspection solution
Toyota Financial Services France (TFS) has partnered with Monk AI to launch TFS Care, a new vehicle inspection solution using AI technology to detect body damage by analyzing photos taken with a smartphone. The solution generates a complete report on the condition of the bodywork, indicating the location, type, size and repair cost of any damage, using TFS pricing matrices. The solution will be offered to customers nearing the end of their leasing contracts and will allow them to inspect their vehicles using the TFS Care web application.
Ship.Cars Partners with Monk AI to Introduce Artificial Intelligence to the Auto-Transportation Industry
Ship.Cars has partnered with Monk AI to deliver AI inspection reports using their ePOD app. The app allows drivers to extract vehicle damages and generate reports quickly. AI inspection helps streamline the pick-up and delivery processes for carriers and brings more transparency to the process. It enables Ship.Cars users to enjoy an enhanced experience from their mobile app. The AI Inspection app allows users to automate the process, generate damage reports quickly and detect new damages.
ACV Acquires Monk, a Leading AI-Powered Imaging and Vehicle Inspection Platform.
ACV (Nasdaq: ACVA), the leading digital automotive marketplace and data services partner for dealers and commercial partners, today announces the acquisition of Monk SAS, an international artificial intelligence solutions company that automates vehicle damage detection. The acquisition is ACV’s latest platform investment as the company continues to build and enhance its comprehensive portfolio of digital solutions aimed at empowering dealer and commercial partners.
How we trained VIN detection models with Mindee
As we strive for full transparency of a car history and composition, our car body analysis had to be augmented with the extra written intelligence that we can find in cars: VIN, dashboard mileage or tires specs.
The technology required to read characters from pictures is called OCR, standing for Optical Character Recognition. OCR algorithms are a specific range of algorithms dedicated to character reading. Being able to read VINs automatically was important for us but not our core business.
How can computer vision help recycle car parts ?
In the span of COP26, many environmental issues have been raised and recycling optimization stood out as one of the biggest challenge to achieve. Sorting domestic waste bins can already be quite messy, both for individuals and for sorting centers; so imagine what it is like when it comes to recycling cars, that bring together more than 30 000 different parts in many different materials.
How we trained VIN detection models with Mindee
As we strive for full transparency of a car history and composition, our car body analysis had to be augmented with the extra written intelligence that we can find in cars: VIN, dashboard mileage or tires specs.
The technology required to read characters from pictures is called OCR, standing for Optical Character Recognition. OCR algorithms are a specific range of algorithms dedicated to character reading. Being able to read VINs automatically was important for us but not our core business.
What makes France a natural world leader in AI?
Late 2020, Alexandre Yazdi, founder and CEO of Voodoo spoke at the Elysée Palace during the La French Tech Next40 event and stood to say that “it would be necessary to position the unicorn as an intermediate stage before something more ambitious, that is to say to create from France world giants of technology” adding besides that France has the necessary resources to achieve this goal.
Alexandre Yazdi is right when it comes to creating a tech giant. Indeed, companies purely focused on Artificial Intelligence have a significant advantage : by nature, AI is scalable everywhere and its market is global, wherever the company is based.
Lockdowns: automotive actors accelerate in e-commerce
Since the arrival of the Covid-19, the world has been turned upside down. Customer appointments take place behind a screen and consumption habits are changing, even when it comes to vehicles.
Recently at 8pm on a major French TV channel, we saw a dealer making vehicle visits via videoconference. What seemed unthinkable or ridiculous a few months ago is now the new standard. Local businesses, too, are finding ways to boost online sales. They implement Click & Collect solutions and adapt.
How can AI resolve one of the biggest pain points in the used car market ?
A study released this month projects that the global automotive AI market will experience exponential growth over the next decade, expanding from $2.5 billion today to roughly $75 billion by 2030. AI and especially computer vision are well known for disrupting the automotive industry by the development of self driving cars (it is estimated that 1 out of 10 cars will be self driving by 2030). Though, there is another market branch of the automotive industry that could be disrupted in its entirety by AI : the used car market.
How to choose an AI provider?
Artificial intelligence applications are numerous and constantly flourishing around the world. It can be complicated to assess different AI providers and select the right partner, here are a few hints to find a partner that will bring real added value to your business.
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Prima Solutions and Monk join forces to simplify and speed up the processing of auto claims
Prima Solutions, a cloud-based software provider for insurance and reinsurance professionals, and Monk, an artificial intelligence solution for visual inspections and automotive assessments, are partnering to help insurers speed up the processing of auto claims and offer the best possible user experience for their policyholders.
Autobiz muscle sa solution d'estimation VO avec la technologie de Monk
A la faveur d’un partenariat noué avec Monk, les outils d’Autobiz vont s’enrichir d’une nouvelle intelligence artificielle de reconnaissance des dégâts. Le spécialiste de la cotation de véhicules pourra ainsi fiabiliser les estimations des frais de remise en état.
Shift Technology et Monk combinent leurs technologies pour simplifier et accélérer le parcours des assurés
Shift et Monk s’associent pour proposer aux assureurs une solution d’IA intégrée. Ensemble, les technologies d’intelligence artificielle des deux assurtech françaises permettent à la fois d’automatiser les déclarations de sinistres et de fluidifier la gestion des dossiers.
A Spotlight On Porsche’s AI Collaboration Projects
In times where each of us carries around a device with a high-resolution camera and constant internet connectivity, MonkAI worked to find an adequate solution to this. The French software start-up develops computer vision algorithms to analyze any item’s condition based on visual aspects. You only need a smartphone camera.
Idea Expertises se rapproche de Monk pour lancer un outil intelligent
Le réseau français d’experts en automobile finalise une nouvelle solution mise au point avec les ingénieurs en intelligence artificielle de Monk. Elle tend à optimiser le travail de chiffrage des experts grâce à l’analyse des images.
Monk is part of France's deeptech startups to watch, according to investors
Discover Sifted’s article on why Monk is part of France’s deeptech startups that investors keep under their radars
Comment Monk aide Getaround à automatiser l'identification des dommages aux véhicules
Leur premier client est l’une des réussites de la French Tech : Drivy, racheté par la start-up américaine Getaround pour 300 millions de dollars en avril 2019 . La toute jeune pousse Monk, créée il y a moins d’un an, utilise le machine learning pour détecter les dommages causés aux véhicules.
Monk.ai among the Station F TOP30 2020, its a group featuring the most advanced startups of the campus
Companies from the 2020 TOP30 are part of 13 STATION F’s acceleration or incubation programs and collectively raised more than 60M€ with three of them that were acquired during the year.
Paris-based Monk raises €2.1 million to expand its AI-based car damage inspection system
French AI startup Monk, a unique system for car damage detection, has closed a €2.1 million seed round led by Iris Capital, alongside Plug and Play and key business angels including Patrick Sayer (former CEO of Eurazeo), Yannis Yahiaoui (founder of Adot), and Arthur Waller (founder of PriceMatch and Pennylane).
New Investment: Monk, Bringing Expertise To Vehicle Damage Detection
Tracking the condition of industrial products is expensive, time-consuming, and manual. Specifically for cars, identifying and classifying damages is a tedious, complex process, that requires high expertise. While being a complicated problem, the demand is huge. For cars alone: car-sharing and car rental platforms, insurance claims agents, car dealers and second-hand marketplaces, fleet managers…
