Dashboard cameras have long been used to record vehicle routes and driver behavior. But recent advances in artificial intelligence (AI) have made these tools all the more effective in reducing fleet costs. Here are just some ways that AI dashcams are transforming the trucking industry, helping to improve safety while reducing costs.
What are AI dashcams?
An AI dashcam is a camera mounted to a vehicle’s dashboard. It usually features a single, forward-facing camera to analyze road conditions and record accidents. Sometimes a system may also include a cabin-facing camera to monitor driver behavior.
With AI, cameras can detect and predict high-risk events, and store data on the cloud to be reviewed later. These devices are designed to improve safety and performance while avoiding inefficient routing and accidents.
How do AI dashcams work?
AI dashcams rely on cloud storage to retain footage and driver data. AI can monitor road conditions or distracted driving behaviors, for example, and use the information to predict safety risks.
The most advanced AI systems can deliver real-time alerts to avoid accidents. By storing footage for later retrieval and review, they can also provide exonerating evidence in the event of a collision.
Why are fleets choosing AI dashcams?
AI dashcams are more than just a tool for workplace surveillance. They also promote driver safety and ensure operating efficiency. By monitoring and analyzing real-world road conditions, fleet managers can rely on them to optimize routes and reduce shipping costs.
In-vehicle monitoring systems also help from an insurance perspective. Using them may, for example, prevent insurance fraud, facilitate faster claims processing and reduce your premiums.
5 ways AI dashcams help improve fleet profitability
Commercial fleets are discovering that AI dashcams improve profitability in several distinct ways.
1. Driver retention
Dashcams can automatically analyze driving habits to identify risky behaviors, offering opportunities for correction and video-based coaching. In the face of a growing truck driver shortage, these training opportunities can help companies attract and retain quality drivers.
Drivers are drawn to companies that invest in employees, and are more satisfied by jobs where they can develop professionally.
2. Improved driver behavior
The footage from AI dashcams can provide more than just coaching opportunities. The presence of these cameras can improve driver behaviors, resulting in improved road safety and fewer accidents. In fact, researchers from the CDC have shown that in-vehicle monitoring systems can reduce accident-related costs by as much as 86%.
Better driving habits can also improve profitability by increasing driver productivity and reducing fuel consumption. And when trucks and equipment are operating optimally, companies spend less on maintenance.
3. Reduced insurance premiums
AI dashcams can also reduce your insurance premiums. For starters, they reduce the number of collisions, and provide exonerating evidence to decrease at-fault determinations. That helps you maintain a safe driving record, which in turn can lower your insurance premiums.
Depending on your insurance provider, installing state-of-the-art monitoring equipment may result in a discount.
4. Preventing false insurance claims
False insurance claims happen all the time. Fraud can occur through misstating or exaggerating facts — such as the severity of damage or injury — or even by staging an accident entirely.
A dashboard camera can eliminate these possibilities. By some estimates, the use of in-vehicle camera systems has reduced the amount spent on fraudulent insurance cases by $34 billion.
AI dashcams provide a documented record of the driver’s behavior and the accident itself. Modern cameras offer high-definition footage and light amplification features, which make it easy to monitor any road condition. Finally, cloud-based storage prevents footage from being altered or tampered with. As a result, commercial fleets can expect to save thousands that may otherwise be spent on legal bills.
5. Better optimized routes and fewer road incidents
Today’s advanced AI can identify obstacles that pose risks to trucks and commercial fleets. For instance, AI dashcams can monitor road conditions, weather patterns, traffic and other issues that can impact a driver’s safety and performance. The same technology can also help fleets plan better routes and provide alternative solutions in response to changing conditions. And with fewer roadway incidents, your trucking company can maintain a positive public reputation.
The next stage in trucking evolution
The trucking industry has always represented a union between people and machines, and AI dashcams are merely the next stage in that evolution. Managers of commercial fleets can leverage them to enhance their overall operations while improving driver safety.
At only a few hundred dollars, dashcams are one of the least expensive fleet upgrades available. However, the savings alone makes them a worthwhile investment. As noted, companies that use monitoring devices see an 86% reduction in accident-related costs, and optimal route planning only increases your organization’s speed and efficiency.
Some insurance providers may offer a modest discount for companies that use dashcams, though this depends on your provider. The real savings will occur through a reduction in roadway incidents after implementing a monitoring system.
Dashcam discounts are only selectively offered by insurance companies, but they can lower your premiums by 10% or more. However, dashcams drastically reduce the costs associated with accidents and insurance fraud, which will indirectly lower your insurance premiums by helping you maintain a safe driving record.
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