The used car retailer has partnered with AI technology company UVeye on systems that assess vehicles and produce condition reports for wholesale buyers of vehicles sold at auctions, according to a Tuesday (Jan. 24) press release.
CarMax invested in UVeye in 2021, is using the technology in several wholesale locations and operates it through a license from UVeye, the release said.
“CarMax’s purpose is to drive integrity by being honest and transparent in every interaction,” CarMax Vice President of Merchandising Operations Dave Unice said in the release. “Our partnership with UVeye allows us to further this mission by providing dealers with highly detailed imagery on auction vehicles online.”
The UVeye technology scans the vehicle’s body, tires and undercarriage to produce a vehicle condition report that includes high-resolution photos while also detecting missing parts, damage, leaks and other issues, according to the release.
When a vehicle is driven through the system, the technology scans it within seconds, the release said.
The UVeye vehicle inspection technology is used by not only used car sellers but also automotive repair shops, fleet operations and dealerships’ sales departments.
As PYMNTS reported in July, repair shops use the AI-powered reports to give consumers confidence that a recommended repair is needed, and dealerships use it to show the car owners flaws that they may not have known about.
AI is being deployed across industries to solve problems and deliver benefits.
Recent news includes OpenAI’s use of the technology to produce chatbots with humanlike conversation capabilities, Perfect and Valmont partnering to use AI to give customers a detailed skin analysis and personalized beauty routine, and Google Cloud, Deloitte and Kroger deploying the technology to improve the grocery retailer’s shelf-stocking and inventory.
In the case of the UVeye inspection systems, AI and high-definition cameras work together to produce vehicle condition reports in real time and with consistent and accurate results, according to the press release.
“UVeye is on a mission to standardize automatic inspections in the automotive industry, and this marks a significant step for us,” UVeye CEO Amir Hever said in the release. “It is a true privilege to have CarMax on this journey with us both as an investor and as a strategic customer. We will continue to work together on providing the best customer experience possible.”