In a bid to stay relevant and competitive in the face of high-tech electric vehicles, truck tracking software company ERoad has made a strategic move to adopt artificial intelligence (AI) technology. ERoad has partnered with Microsoft to leverage its machine learning algorithms to optimize the temperature control inside chilled truck trailers that transport perishable goods like food and medicine.
One key feature of ERoad’s AI technology is its ability to predict when vehicle maintenance is required. By analyzing various data points, the AI system can accurately identify potential issues before they occur, preventing costly breakdowns. ERoad’s co-chief executive, Mark Heine, highlighted the importance of this technology, stating that it can help prevent significant losses as some trailers can carry up to $100,000 worth of goods.
ERoad initially gained recognition as a pioneer in road user charge devices, developing the first recording device approved by the New Zealand Transport Agency / Waka Kotahi. Over time, the company evolved and expanded its software suite, enabling companies to track drivers, manage vehicle performance and safety, and handle road user charges and tolls.
Despite recent challenges, including a failed takeover offer, a $50 million equity raise, and the departure and return of its founder, ERoad sees AI as a massive opportunity for the transport industry and their company. However, Heine emphasized that implementing AI technology should have a clear economic rationale and tangible benefits for customers. Otherwise, it can become costly and inefficient.
Alongside the adoption of AI, ERoad has also been able to increase its prices, with a recent 6% hike in New Zealand. According to Heine, customers have accepted the price increase, which is the first in the company’s 10 to 11 years of operation. He also noted that ERoad is benefiting from a growing number of corporate fleets transitioning to electric vehicles, as these vehicles will be subject to fuel road user charges starting April 1. He appreciates the government’s efforts in implementing a more equitable road charging model for the country.
Although electric vehicles such as those manufactured by Tesla are equipped with advanced software that automates charging, tolling, and vehicle management, ERoad believes it can remain relevant by leveraging AI technology. By continuously innovating and focusing on meeting the evolving needs of its customers, ERoad aims to stay at the forefront of the truck tracking software industry.
Frequently Asked Questions
What is ERoad?
ERoad is a truck tracking software company that provides solutions for fleet management, driver tracking, and road user charges.
How does ERoad use AI?
ERoad uses AI technology, powered by Microsoft’s machine learning algorithms, to optimize the temperature inside refrigerated truck trailers and predict vehicle maintenance requirements.
What are the benefits of ERoad’s AI technology?
ERoad’s AI technology ensures the safe transport of perishable goods by maintaining optimal temperatures in truck trailers. It also helps prevent costly breakdowns by predicting maintenance requirements before they occur.
Has ERoad increased its prices?
Yes, ERoad recently implemented a 6% price increase in New Zealand, which is the first price hike the company has made in its 10 to 11-year history.
How is ERoad preparing for the rise of electric vehicles?
ERoad is aware of the increasing adoption of electric vehicles and believes that its AI technology and focus on continuous innovation will help the company remain relevant and competitive in the evolving transport industry.
Source: [NZ Herald](https://www.nzherald.co.nz/business/truck-tracking-software-firm-eroad-opts-for-ai-as-it-goes-up-against-tesla/XCEZZPK4HVCQ6ZG6YNRAHNUILU/)
FAQs
What is ERoad?
ERoad is a truck tracking software company that provides solutions for fleet management, driver tracking, and road user charges.
How does ERoad use AI?
ERoad uses AI technology, powered by Microsoft’s machine learning algorithms, to optimize the temperature inside refrigerated truck trailers and predict vehicle maintenance requirements.
What are the benefits of ERoad’s AI technology?
ERoad’s AI technology ensures the safe transport of perishable goods by maintaining optimal temperatures in truck trailers. It also helps prevent costly breakdowns by predicting maintenance requirements before they occur.
Has ERoad increased its prices?
Yes, ERoad recently implemented a 6% price increase in New Zealand, which is the first price hike the company has made in its 10 to 11-year history.
How is ERoad preparing for the rise of electric vehicles?
ERoad is aware of the increasing adoption of electric vehicles and believes that its AI technology and focus on continuous innovation will help the company remain relevant and competitive in the evolving transport industry.
Definitions:
Artificial Intelligence (AI): Refers to the simulation of human intelligence in machines that are programmed to think and learn like humans through algorithms and data analysis.
Machine Learning: Refers to a subset of AI that allows machines to learn and improve from experience without being explicitly programmed. It involves training a model using large amounts of data.
Perishable Goods: Refers to items or goods that have a limited shelf life, such as food and medicine, and need to be transported under specific temperature conditions to prevent spoilage or degradation.
Road User Charges: Refers to charges or fees imposed on owners or operators of certain vehicles for their use of public roads. These charges contribute to the maintenance and development of road infrastructure.
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