IIT Delhi, Shriram Automall collaborate to enhance ThePriceX platform

Under this exclusive agreement, a team from the Indian Institute of technology-Delhi will provide expertise to improve the accuracy of ThePriceX.

Indian Institute of Technology (IIT) Delhi's Yardi School of Artificial Intelligence collaborated with Pre-owned vehicles and equipment marketplace Shriram Automall India Ltd on May 10, 2022. A pact has been signed between the two to enhance its in-house developed pre-owned vehicle valuation platform ThePriceX.

IIT-D to provide expertise to improve the accuracy of ThePriceX

Under this exclusive agreement, a team from the Indian Institute of technology-Delhi will provide expertise to improve the accuracy of ThePriceX. An official statement released by the company states that the technique helps in assisting in predicting the value of pre-owned vehicles from any source and geography, real-time, through statistical modelling, machine learning and other complex artificial intelligence algorithms.

It further added that the institute will get assistance with the decade-long expertise of Shriram Automall India Ltd (SAMIL) on pricing and valuation data of pre-owned vehicles and equipment. Calling Shriram Automall India Ltd (SAMIL) collaboration ‘a strategic tie-up’ with IIT Delhi, SAMIL Director and CEO Sameer Malhotra said that its technology team would work together on the enrichment of the already advanced pre-owned vehicle price prediction tool ThePriceX. The talent pool of IIT-D will brainstorm and enhance the technology involved in the process of price prediction.

Leading banks, insurance companies, NBFCs as well as OEMs are popularly using the advanced price prediction engine, ThePriceX, the company informed. Users get data-driven results on the basis of lakhs of successfully transacted vehicles over the past 11 years.

IIT-Delhi hoists 108 feet flag on campus

Meanwhile, IIT- Delhi recently hoisted a 108 feet tall national flag on its campus on Saturday, May 7. Chief Guest Naveen Jindal, Founder, Flag Foundation of India and Chairman, Jindal Steel and Power Limited (JSPL) hoisted the monumental flag in the presence of the Institute's senior functionaries, employees. Students of Kendriya Vidyalaya were also present during the ceremony.

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