OPENLANE Launches Audio Boost AI for Faster, Easier Vehicle Evaluations
Rhea-AI Summary
OPENLANE (NYSE: KAR), a leading digital marketplace for wholesale used vehicles, has launched Audio Boost AI, an innovative feature that enhances vehicle evaluation capabilities on its US marketplace. The AI-powered tool analyzes engine audio recordings to identify potential issues, comparing them against a database of over 1.2 million engine recordings.
The system integrates directly into vehicle condition reports, providing color-coded alerts and benchmark comparisons with normal engine sounds for over 95% of vehicles where issues are detected. This technology complements OPENLANE's existing innovations, including Visual Boost AI and Code Boost IQ launched in 2024, creating one of the industry's most comprehensive vehicle condition reporting systems.
Positive
- First-to-market with AI-powered engine audio analysis technology
- Leverages extensive proprietary database of 1.2 million engine recordings
- Coverage for 95% of vehicles with detected issues
- Integration with existing AI tools (Visual Boost AI and Code Boost IQ) enhances overall vehicle assessment capabilities
Negative
- None.
News Market Reaction
On the day this news was published, KAR declined 0.59%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-Powered Tool Pinpoints Engine Sound Anomalies to Boost Dealer Confidence
"Understanding engine health is one of the most persistent industry pain points for dealers, and Audio Boost AI is a gamechanger offering unparalleled transparency and confidence," said Justin Zane, SVP and President, US Marketplace and Services at OPENLANE. "Our exclusive audio insights empower dealers to identify issues faster and make more informed decisions with less guesswork. With greater confidence in every bid, Audio Boost AI helps dealers more quickly fill their lots with the right vehicles — so they can spend more time retailing and less time wholesaling."
The tool augments the experience and expertise of OPENLANE's seasoned inspectors with an AI model trained on OPENLANE's proprietary database spanning more than 1.2 million engine recordings. If an inspector flags a potential issue, Audio Boost AI compares the recording against its ever-growing database and visually highlights anomalies within the recording, making it fast and easy for dealers to hone in where it matters most when making bidding and buying decisions. To further enhance consistency and trust, colored alert banners indicating whether a potential issue has been detected (green if no issues, yellow if issue reported) are affixed at the top of the Engine Analysis section of the condition report. Sample recordings are also provided for over
"With the addition of Audio Boost AI to their arsenal, dealers now have unprecedented clarity and visibility into what's going on with a vehicle cosmetically, diagnostically and under the hood," said Zane. "There's no shortage of data in the modern world; what dealers want and need are better, more actionable insights that help them sift through the chaff and make sense of it all. We're proud to be the first and only marketplace to offer this unique and powerful solution to dealers. Wherever you are — on the lot, at home or on vacation — OPENLANE makes it easier than ever for our customers to quickly and accurately assess vehicle condition and valuation."
Audio Boost AI is the newest innovation reinforcing OPENLANE's commitment to leveraging the latest, most cutting-edge technologies to help make wholesale easier and improve outcomes for both buyers and sellers. It builds on the success of Visual Boost AI and Code Boost IQ, both launched in 2024, to create one of the most powerful vehicle condition reports in the industry — packaging smart insights in a crisp, easy-to-understand format dealers can quickly navigate and digest.
For more information about Audio Boost AI and OPENLANE's other innovations transforming wholesale, watch the video and visit openlane.com.
OPENLANE Contacts: | |
Media Inquiries: | Analyst Inquiries: |
Laurie Dippold | Itunu Orelaru |
(317) 468-3900 | (317) 249-4559 |
laurie.dippold@openlane.com | investor_relations@openlane.com |
About OPENLANE
OPENLANE, Inc. (NYSE: KAR) makes wholesale easy by connecting the leading automotive manufacturers, dealers, rental companies, fleet operators, captive finance and lending institutions as buyers and sellers to create the most advanced digital marketplace for used vehicles. Our innovative products and services deliver a fast, fair and transparent experience that helps customers make smarter decisions and achieve better outcomes. Headquartered in
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SOURCE OPENLANE, Inc.
FAQ
What is OPENLANE's Audio Boost AI and how does it work?
How does Audio Boost AI benefit car dealers on the OPENLANE marketplace?
What other AI features does OPENLANE (NYSE: KAR) offer alongside Audio Boost AI?
How many engine recordings are in OPENLANE's AI database?
What percentage of vehicles with detected issues have sample recordings available?
