CerebrumX Labs Inc. (CerebrumX), an AI-driven automotive data management company, announced Dec. 14 results of a recent industry survey designed to take the pulse of fleet business leaders who have begun to utilize Artificial Intelligence (AI) connected vehicle technologies, and what type of results and/or cost savings they have identified for their operations.

CerebrumX presented an online survey to more than 2,000 fleet professionals during the last two weeks of November.

The survey found that 61.5% of respondents are currently leveraging connected vehicle data. It also found that 38.5% are also leveraging a telematics service provider (TSP).

However, 32.7% say they are not receiving optimal ROI from their TSP. Of these individuals, 22.1% said they have challenges in making their data actionable for their organization, and another 21.2% said they have challenges in collecting data from different vehicle models and OEMs.

Lastly, 37.3% said they haven’t been collecting data from OEMs because they haven’t found the right data platform provider.

Embedded AI Showing Progress

According to the study:

• 69% said they believe embedded AI can be a solution to these issues.

• 48% said they would like to be using their data to better understand usage trends.

• 42% said they want to build broader mobility strategies.

• 33% said they want to gain better insights for vehicle maintenance.

In terms of leveraging connected vehicle data to reduce costs, the majority of respondents (37.5%) said they are seeing a reduction in insurance costs by 5% - 10%, and more than a third are seeing a reduction in maintenance costs also by 5%-10%.

Many respondents also said their connected vehicle data is creating the most results for cost reductions in road usage fees (44%), as well as overall fleet management operations (41%).

Fleets Still Need Help & Connectivity 

Roughly half of respondents said they need a better way to standardize data from disparate systems or OEMs (49%) to improve the process of leveraging their connected vehicle data. Another 36.5% said they need better connectivity technology and also improve on the time it takes to access and process data.

Just over half (51%) said gaining better insights would allow them to help supply chain processes for new vehicles, while 46.2% said it would help better maintain vehicles.

“In an era where information is key, unlocking the full potential of today’s fleets requires a deep understanding of the insights derived from connected vehicles,” said Sandip Ranjhan, CEO of CerebrumX in a recent news release. “Connected vehicle data isn't just about technology; it's about unlocking efficiency, enhancing safety, and ultimately driving business success.”