WEBVTT 1 00:00:00.000 --> 00:00:02.583 (upbeat music) 2 00:00:06.120 --> 00:00:07.950 With Penske Transportation Solutions, 3 00:00:07.950 --> 00:00:10.740 we think about ourselves as masters of movement, 4 00:00:10.740 --> 00:00:12.840 so we help people move things from here to there, 5 00:00:12.840 --> 00:00:14.460 from point A to point B. 6 00:00:14.460 --> 00:00:16.410 We have a fleet of rental vehicles 7 00:00:16.410 --> 00:00:17.640 that people might recognize; 8 00:00:17.640 --> 00:00:19.140 they're the yellow trucks you see running up 9 00:00:19.140 --> 00:00:21.090 and down the road that households use 10 00:00:21.090 --> 00:00:24.240 to move their belongings; that's about 5% of what we do. 11 00:00:24.240 --> 00:00:27.750 The majority of what we do is supporting B2B businesses 12 00:00:27.750 --> 00:00:28.620 behind the scenes. 13 00:00:28.620 --> 00:00:30.990 So we offer truck rentals, and 14 00:00:30.990 --> 00:00:33.540 leasing and logistics solutions to fleets. 15 00:00:33.540 --> 00:00:36.810 And so because of that, we've developed this expertise 16 00:00:36.810 --> 00:00:40.830 and consider ourselves a fleet of fleets in the industry. 17 00:00:40.830 --> 00:00:43.200 One of the things that our customers struggle with, 18 00:00:43.200 --> 00:00:46.170 so, fleet managers, is that they have 19 00:00:46.170 --> 00:00:48.960 to rely on aggregated benchmarks. 20 00:00:48.960 --> 00:00:52.620 What the possibility of AI brings is the opportunity to put 21 00:00:52.620 --> 00:00:54.060 that data at their fingertips 22 00:00:54.060 --> 00:00:56.280 and really to help them see opportunity 23 00:00:56.280 --> 00:00:58.380 that they can't see on their own. 24 00:00:58.380 --> 00:01:00.690 We're super excited about Catalyst AI. 25 00:01:00.690 --> 00:01:05.250 It is a platform that helps fleets draw comparisons. 26 00:01:05.250 --> 00:01:07.950 We had an incredible internal team full 27 00:01:07.950 --> 00:01:11.040 of different subject matter experts that bring our expertise 28 00:01:11.040 --> 00:01:13.590 to bear, that are really close to how fleets operate 29 00:01:13.590 --> 00:01:16.110 day to day and what we know about them, 30 00:01:16.110 --> 00:01:17.760 as well as all the data that we have 31 00:01:17.760 --> 00:01:20.250 that comes off the vehicles in real time, 32 00:01:20.250 --> 00:01:23.310 as well as the data that we have housed within the business. 33 00:01:23.310 --> 00:01:25.140 And then we partnered with BCG as well 34 00:01:25.140 --> 00:01:28.560 to get some external expertise to complement that team, 35 00:01:28.560 --> 00:01:31.860 and it was absolutely a brilliant team in terms of 36 00:01:31.860 --> 00:01:33.180 how they worked together. 37 00:01:33.180 --> 00:01:36.360 We couldn't be prouder of the speed to market 38 00:01:36.360 --> 00:01:39.480 and the process by which that was done and accomplished. 39 00:01:39.480 --> 00:01:42.360 We invited our customers into the development process 40 00:01:42.360 --> 00:01:44.490 with us, and so we did some prototyping. 41 00:01:44.490 --> 00:01:47.700 Some of our largest, most significant customers, 42 00:01:47.700 --> 00:01:50.070 we showed them an example of what we were trying to do 43 00:01:50.070 --> 00:01:52.860 and some prototypes, and we got their feedback and input 44 00:01:52.860 --> 00:01:55.170 and we iterated and we went back and forth, 45 00:01:55.170 --> 00:01:59.100 and so that was a really important element of helping 46 00:01:59.100 --> 00:02:02.940 to mitigate risk in the process, get speed to market, 47 00:02:02.940 --> 00:02:06.570 but also work through those challenges quickly. 48 00:02:06.570 --> 00:02:09.240 This industry's going to continue to become more 49 00:02:09.240 --> 00:02:11.400 data-centric. It's going to continue to have a need 50 00:02:11.400 --> 00:02:13.860 for these solutions with AI. 51 00:02:13.860 --> 00:02:16.260 We're dealing with millions and millions, 52 00:02:16.260 --> 00:02:19.560 billions and billions of data points on a regular basis, 53 00:02:19.560 --> 00:02:22.650 and that's a lot for people to put to work and comprehend. 54 00:02:22.650 --> 00:02:25.710 So I think in this industry, we're just getting started 55 00:02:25.710 --> 00:02:27.210 with the possibilities. 56 00:02:27.210 --> 00:02:29.370 I do think we're going to have to get the people part right 57 00:02:29.370 --> 00:02:32.310 as well, because again, it's about the people 58 00:02:32.310 --> 00:02:35.523 plus the technology and the data as we look to the future.