(upbeat music)
-: With Penske Transportation Solutions,
we think about ourselves as masters of movement,
so we help people move things from here to there,
from point A to point B.
We have a fleet of rental vehicles
that people might recognize;
they're the yellow trucks you see running up
and down the road that households use
to move their belongings; that's about 5% of what we do.
The majority of what we do is supporting B2B businesses
behind the scenes.
So we offer truck rentals, and
leasing and logistics solutions to fleets.
And so because of that, we've developed this expertise
and consider ourselves a fleet of fleets in the industry.
One of the things that our customers struggle with,
so, fleet managers, is that they have
to rely on aggregated benchmarks.
What the possibility of AI brings is the opportunity to put
that data at their fingertips
and really to help them see opportunity
that they can't see on their own.
We're super excited about Catalyst AI.
It is a platform that helps fleets draw comparisons.
We had an incredible internal team full
of different subject matter experts that bring our expertise
to bear, that are really close to how fleets operate
day to day and what we know about them,
as well as all the data that we have
that comes off the vehicles in real time,
as well as the data that we have housed within the business.
And then we partnered with BCG as well
to get some external expertise to complement that team,
and it was absolutely a brilliant team in terms of
how they worked together.
We couldn't be prouder of the speed to market
and the process by which that was done and accomplished.
We invited our customers into the development process
with us, and so we did some prototyping.
Some of our largest, most significant customers,
we showed them an example of what we were trying to do
and some prototypes, and we got their feedback and input
and we iterated and we went back and forth,
and so that was a really important element of helping
to mitigate risk in the process, get speed to market,
but also work through those challenges quickly.
This industry's going to continue to become more
data-centric. It's going to continue to have a need
for these solutions with AI.
We're dealing with millions and millions,
billions and billions of data points on a regular basis,
and that's a lot for people to put to work and comprehend.
So I think in this industry, we're just getting started
with the possibilities.
I do think we're going to have to get the people part right
as well, because again, it's about the people
plus the technology and the data as we look to the future.