{"id":10340,"date":"2024-03-26T17:38:07","date_gmt":"2024-03-26T17:38:07","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/03\/26\/daimler-india-commercial-vehicles-pilots-project-to-use-ai-for-demand-forecasting\/"},"modified":"2024-03-26T17:38:07","modified_gmt":"2024-03-26T17:38:07","slug":"daimler-india-commercial-vehicles-pilots-project-to-use-ai-for-demand-forecasting","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/03\/26\/daimler-india-commercial-vehicles-pilots-project-to-use-ai-for-demand-forecasting\/","title":{"rendered":"Daimler India Commercial Vehicles pilots project to use AI for demand forecasting"},"content":{"rendered":"
\"Daimler<\/div>


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Commercial vehicle player Daimler India Commercial Vehicles<\/a> (DICV) on Tuesday said that it has launched a pilot called Project Vruddhi<\/a> which is using Artificial Intelligence<\/a> (AI) for demand forecasting. Managing Director and CEO, Satyakam Arya<\/a> underscored the disruptive and transformative role that AI is expected to play on operations going forward while addressing the media at the company’s facility in Oragadam, which is on the outskirts of Chennai. <\/p>\n

“The commercial vehicle industry is a very complex business,” he explained. “We have BSIII to BSVI parts and different generations of vehicles that we have rolled out in 10 years. Forecasting demand for parts for those vehicles is absolutely essential. AI is helping to do that.”<\/p>\n

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Arya said Project Vruddhi is helping the truck and bus maker be a lot more precise with demand forecasting. However, he said the use cases also included things like improving customer interface, translation services and writing content. While the opportunity was large, he said that the bigger dimension would be how companies can upskill and reskill their workforce.<\/p>\n

“The risks are that some of the jobs will be gone but new jobs will also be created,” he said. “Every company or every business needs a lot more data scientists but you don’t find them in the market. So how do you create those skills while some of the other skills become redundant.”<\/p>\n

DICV, which is the wholly-owned subsidiary of Daimler Truck AG, on Tuesday said that in CY2023 it achieved “record sales and revenue performance.” The company\u2019s CY2023 domestic truck and bus sales grew by 39% and revenue grew by 21% over 2022. DICV\u2019s bus volumes doubled in CY2023, growing 107% over 2022. Its cumulative sales (including domestic and exports) from January to December 2023 grew by 13% and its parts business grew by more than 21% over CY2022.<\/p>\n

\u201cOur best-ever sales and financial growth, since inception, was spearheaded by excellent demand for our tipper and tractor trailer product lines which grew 53% and 79% respectively compared to CY2022,” Arya said. “A slew of strategic initiatives that we undertook in 2023 also helped us take informed decisions on costs, tackle headwinds effectively and sharpen our focus on key areas of our business.”<\/p>\n

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In January 2023, DICV transitioned its entire BharatBenz<\/a> truck and bus portfolio to comply with OBD-II regulations, with a sharper focus on reducing the total cost of ownership, increasing the productivity of its trucks, effectively resulting in longer service intervals, the company claimed.Arya said he expects the market to remain flat in 2024 with total industry volumes of 350,000 in the 9 to 55 tonne range and foresees the sales in the first half of 2024 to remain a bit soft, however, he said the second half will see a strong growth momentum post-election.<\/p>\n

“In the best-case, the market may remain flat and the pessimistic scenario may be minus 5% for trucks, however, the bus market will grow by over 35-40%,” he said.<\/p>\n<\/div>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Commercial vehicle player Daimler India Commercial Vehicles (DICV) on Tuesday said that it has launched a pilot called Project Vruddhi which is using Artificial Intelligence (AI) for demand forecasting. Managing Director and CEO, Satyakam Arya underscored the disruptive and transformative role that AI is expected to play on operations going forward while addressing the media […]<\/p>\n","protected":false},"author":2,"featured_media":10341,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/img.etimg.com\/photo\/88591548.cms","fifu_image_alt":"","footnotes":""},"categories":[607],"tags":[890,15418,3540,15421,15417,189,15423,273,15422,7011,15419,15420,4179],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/10340"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=10340"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/10340\/revisions"}],"predecessor-version":[{"id":10342,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/10340\/revisions\/10342"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/10341"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=10340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=10340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=10340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}