Philippines: AI tool developed to access value of used bikes

The AI system is currently not available to the general public though.

According to media reports, the Department of Science & Technology of the Philippines has partnered with the Asian Institute of Management (AIM) to develop an AI tool which can assess the value of second-hand motorcycles.

The new AI tool is called the Automated Repossessed Motorcycle Assessment System (ARMAS). It requires users to enter key information about the motorcycle, including make, model, model year and date of sale.

Once the information is provided, the tool will require you to upload images of the motorcycle from various angles. The AI algorithm analyses if there are any damages or aftermarket accessories and if the bike is still in its original colour. In addition to this, the AI tool will also ask the motorcycle to be fired up to "listen" to its sound and detect any irregularities.

The AI system is currently not available to the general public though. The tool is limited to use internally by some banks and credit companies specialising in the procurement of repossessed vehicles.

Source: RideApart