LKQ North America Partners with Tractable to Accelerate Auto Parts Recycling and Distribution with Artificial Intelligence
NEW YORK, June 29, 2021 /PRNewswire/ -- LKQ North America, the leading provider of alternative vehicle parts, is now using Tractable's Artificial Intelligence ("AI") to accelerate and optimize the recycling of the salvage vehicles the Company procures across their North America segment.
The AI uses computer vision, a technology that allows algorithms to reason based on images, to assess the specific damage on each vehicle and determine which parts can be recycled and reused. Tractable's AI has been trained on millions of historical examples and performs on par with human intelligence, increasing the level of consistency and accuracy.
Yogi Shivdasani, Vice President of North America Supply Chain at LKQ, said: "We are excited to be the first recycled parts provider to apply AI to the effective and efficient procurement of salvage vehicles. Tractable's AI has enhanced our expertise with identifying high quality parts on salvage vehicles and to make sure those parts can be recycled and reused. Tractable further assists LKQ in delivering the right parts, to the right place, and at the right time."
Alex Dalyac, Tractable co-founder and CEO, said: "Through this collaboration with LKQ North America, our technology is improving the value of parts recycling for the entire North American auto repair ecosystem. By finding reusable parts at scale and ensuring they are distributed more quickly, our technology is already having a positive impact on both the auto industry and the environment."
About Tractable:
Tractable develops artificial intelligence systems for accident and disaster recovery. Tractable's AI solutions process over $2 billion per year in vehicle repairs and purchases, and have been deployed by over 20 of the world's top insurers across Europe, North America, and Asia, helping millions of households recover from accidents faster.
About LKQ:
LKQ Corporation (www.lkqcorp.com) is a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles. LKQ has operations in North America, Europe and Taiwan. LKQ offers its customers a broad range of OE recycled and aftermarket parts, replacement systems, components, equipment, and services to repair and accessorize automobiles, trucks, and recreational and performance vehicles.
SOURCE Tractable
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