Trends
The adoption of technology across the transport and fleet industry has risen considerably in recent years. As businesses strive to optimize efficiency, safety, compliance and performance (especially in the current climate) the use of tech in fleet management presents a real opportunity for innovation and growth in 2023 and beyond.
- Artificial Intelligence (AI) in transport
AI-powered tech is all about the intelligence gained; AI can instantly analyze and interpret data to provide insights and the ability to make more informed decisions. Transport businesses work with huge amounts of data each day, so it is critical to have an AI-powered solution that not only collects data but interprets it, to add greater value and understanding.
An AI and machine-learning-based platform allows businesses to streamline processes, predict trends, and gain real-time insights. This, in turn, helps to identify inefficiencies to boost productivity and improve driver behavior, for the safety of all road users.
According to McKinsey& Co. (“The potential value of AI – and how governments could look to capture it”, July 2022), by 2030 it’s expected that AI could add a whopping $13 trillion to global economic output.
- Growing uptake of smart cameras across fleets
AI-enabled smart dashcams are fast being adopted by forward-thinking organizations because they provide visibility far beyond just video and audio. In fact, Berg Insight [The Video Telematics Market (berginsight.com)] forecasts a CAGR of 16.8% for video telematics, from almost 3.9 million units at the end of 2021, to 8.4 million by 2026 across Europe and North America.
They’re indispensable for helping to reduce road incidents and insurance premiums, prevent fraudulent claims and identify ways to improve driver behavior. Built-in sensors show what’s happening inside and around the vehicle in real-time. From distracted driving to dangerous following distances, fleet managers can use the data to encourage drivers to improve safety and performance. AI-enabled tech also learns from its environment, meaning it gets more accurate with time.
- A driver safety focus
Safety is a growing concern for drivers and fleet managers, and for good reason. According to the World Health Organization, approximately 1.3 million people lose their lives to road traffic accidents globally. Something the United Nations General Assembly takes seriously, with its work towards a target to halve the global number of deaths and injuries from road traffic crashes by 2030.
So, what can fleet managers do to support this goal? Put driver safety right at the top of the agenda.
The benefits of fleet technology in addressing safety concerns are becoming more common place. Real-time data produced by telematics means that fleet managers can create individualized training and coaching programs for drivers in need, as well as reward positive behavior. In turn, improving driver retention which is vital against the backdrop of continued driver shortages.