New Study by Solera Reveals More Than Half of Small Fleets Are Prioritizing AI for Operations

Solera Holdings, LLC, the global leader in vehicle lifecycle management, today released new research of small fleet owners, operators, and drivers identifying current pain points and future opportunities in the industry.

To uncover insights on how small fleets are feeling about their industry and top opportunities moving forward, Solera conducted a survey of 300 small- and medium-sized fleet decision makers in July 2023. The findings show that smaller fleets are feeling the impacts of the current economic headwinds and personnel issues, but do see ways in which technology ? specifically AI ? can streamline operations and help bottom lines.

"While the fleet industry is facing uncertainty as a result of soaring costs and continued disruption, technology is continually emerging as a differentiator for those looking to stay ahead," said Mark Freitas, Vice President, Product Management, Solera. "Our survey shows that small and medium-sized fleet managers are interested in cutting-edge tech like AI and ML to optimize their operations and future-proof their businesses and allow them to compete at a larger scale."

With AI's influence growing in the trucking industry, 51% of small fleets said they were either considering plans to add AI or actively exploring ways to tap the technology's potential. An additional 8% reported they were already utilizing the technology. In the same survey, 40% of respondents noted they'd be interested in using AI to capture risks via video and streamline maintenance schedules while over one-third would like to use it to speed up driver workflows.

For fleets looking to incorporate AI capabilities into operations, tools like SmartDrive's Video Safety Program and Spireon's IntelliScan ProView (both Solera companies) can empower businesses to make data-driven decisions and streamline business processes. Especially as small to mid-sized fleets look to compete with larger businesses, closing the logistics technology gap can help these shippers improve operations, reduce costs, and manage their drivers.

Additional findings from the survey include:

• As the next generation enters the trucking industry, technology will continue to play a bigger role in the day-to-day operations of fleets. 47% of Gen Z respondents said they would explore ways business can incorporate AI. That's nearly double the average (28%).
• Transportation Management System (TMS) platforms and safety-based technologies topped SMBs lists for technology investment priorities for the coming year. Overall, 47% put each at the top of their lists, followed by maintenance at 43%.
• SMB fleet owners' biggest concerns revolve around the economy and their work forces. Almost two-thirds noted inflation as their top concern followed by the driver shortage and supply chain disruption at 48% and 29% respectively.

Full survey results can be found in the Competing with Fleet Giants eBook available for download here.

For SMBs looking to further explore tech solutions for their fleet, there's still time to register for the Solera | Sylectus User Conference taking place September 20-22 in Nashville. Solera representatives will be onsite to share more about the company's Fleet Solutions and how SMBs can integrate them into their current operations. Additionally, there will be several sessions specifically for SMBs, including:

• Harnessing Ambition and Drive to Fuel You and Your Team ? A Fireside Chat with NASCAR Hall of Famer, Jeff Gordon
• Rev Up Your Recruiting Strategy: Driver Hiring & Retention Tactics for a Modern Workforce (with The National Transportation Institute)
• Government Regulations: What Should They Take On & What Should They Stay Away From (with TCA)

View the full agenda and register to attend the Solera | Sylectus User Conference.

For fleet managers and decision makers attending ATA MCE 2023, join Solera's Mark Freitas and Roni Taylor for their session "Educational Session 11 - AI Behind the Wheel: The Road to Smarter and Safer Fleets" to learn how AI is empowering safer - and smarter - fleets. More information about their session is available here.

To learn more about how fleets can future-proof operations using technology, visit www.solera.com.

About Solera

As the leading global provider of integrated vehicle lifecycle and fleet management software-as-a-service, data, and services, Solera offers a "one-stop shop" solution for streamlining operations, data-driven analytics, and enhanced customer engagement. With its impressive roster of leading brands in the vehicle lifecycle ecosystem, Solera caters to over 300,000 global customers and partners in 100+ countries.

About the Survey

The Solera 2023 SMB Fleet Survey is based on a July 2023 survey conducted by Dynata on behalf of Solera of 300 US-based small- and medium-sized fleet owners, operators, and drivers. Dynata is the world's largest first-party data company, with a global reach of more than 62 million consumers and business professionals, fully permissioned with billions of verified data points. Dynata uses a variety of online sample sources and recruitment measures to invite its respondents and panelists for survey research participation.