Droom has launched its Artificial Intelligence Lab. At AI Lab, Droom will be leveraging technological interventions like Artificial Intelligence, Machine Learning, and Big Data to evolve and offer newer tools and solutions to enable the commerce for used automobiles. Droom also allocated INR 50 crores of its investment budget to facilitate innovations.
Droom’s integrated Platform with its ecosystem tools such as OBV (Orange Book Value), Eco, Credit and History are based on AI and advanced machine learning tools. Also, the platform has recently added Dashboard, a feature, which gives customers a 360 degree report of a vehicle simply by scanning or uploading a picture of its registered number plate or taking picture of a vehicle. At the AI Lab team is also working on several projects like Advance Alert System, which can alert customers when the car needs maintenance, based on the OBD data. Droom has also been improving its recommended engine system at the AI Lab for better references. To continually offer premium solutions, Droom has hired dozens of AI/ML experts and graduates from IITs, NIT, IIIT and NSIT.
Speaking on this occasion, Mr. Sandeep Aggarwal, Founder and CEO, Droom remarked, “Droom has now entered the fifth year of its operations and has been building an integrated platform witness the entire ecosystem tool of online automobile category. We are always committed to towards the best innovations we can bring to customers. We planned to continue operating in our investment and expansion and setting up our AI Lab is an integral part of the innovation. Technological advancements like AI, ML, and Big Data etc. are redefining next to every domain across the globe, and with Droom being one of the most innovative online automobile and e-commerce platforms. With the ease in management of large data within a less time that AI and data analytics bring about, we at Droom are leveraging these to create new products and revamp the existing ones, thereby catering to our customer-base better.”
Droom is the one of the largest hyperlocal market and the third largest e-commerce company in India in terms of GMV at present. Droom has also been catering to the entire digital ecosystem around the sale of both new as well as pre-owned automobiles. Upon setting up an AI Lab to work on creating and refining its solutions, efforts like these are further strengthening Droom’s position as one of the most innovative automotive and e-commerce organizations in India and across the globe.