CerebrumX has received a strategic investment from BlackBerry to scale its offering of products based on connected vehicle data.
The firm’s artificial intelligence (AI)-based Augmented Deep Learning Platform (ADLP) captures connected vehicle data about vehicle and driver performance, delivers it to automakers and helps them develop products and services, CerebrumX said in a Friday (April 7) press release.
“CerebrumX has an ambitious vision, together with our partners, customers and stakeholders, to deliver intelligent real-time data insights at scale, and we are excited to have BlackBerry onboard as an investor, who share the same long-term commitment to the global connected vehicle data industry,” CerebrumX CEO Sandip Ranjhan said in the release.
PYMNTS research has found that as the number of connected vehicles on the road continues to grow, developers are producing tools that serve a variety of use cases for consumers, commercial drivers and fleet managers alike.
Among commercial fleets, for example, a survey found that about four in 10 connected fleet operators said they got a return on investment (ROI) within six months and nine in 10 said they got their ROI within 12 months, as reported in “Reshaping Global Business With Connected Vehicles,” a PYMNTS and American Express collaboration.
During just the first few weeks of 2023, a slew of partnerships and announcements showed the value companies see in connected cars.
Payments firms, software providers, dealers and automakers see value in enabling vehicles to connect with all facets of everyday commerce and social interaction.
With the new funding and an integration with BlackBerry’s cloud-connected automotive AI platform, IVY, CerebrumX will expand its capabilities in collecting data, performing data processing and helping inform new use cases, according to the press release.
Among the potential use cases, the company’s connected vehicle data and insights can be used by fleets to monitor their operations in real time, by insurance providers to offer plans based on driver behavior, and by smart mobility solution providers to optimize their services, the release said.
Vito Giallorenzo, general manager of IVY and head of corporate development at BlackBerry, said in the release that the CerebrumX platform can enable data-driven decisions by sifting through millions of connected vehicles.
“By integrating with BlackBerry IVY, we’ll be able to take that offering to the next level and enable CerebrumX to perform intensive amounts of data processing at the vehicle edge to deliver real-time insights to automakers and other ecosystem providers, something which would otherwise involve cumbersome and costly cloud computing resources,” Giallorenzo said in the release.
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