AI Video Dash Cameras: How To Maximize ROI on Your Fleet Investment

Optimizing safety is a top priority for fleet-driven businesses, and a tremendous responsibility for fleet and safety managers. It takes full visibility – on and off the road – to keep drivers safe, ensure compliance with company safety policies and regulatory requirements, reduce accidents and violations (and their associated legal and insurance cost implications), and protect the business and brand reputation. 

Fortunately, new artificial intelligence (AI) technology can help fleet-driven businesses achieve all of these goals. Today, host John Carione outlines the importance of AI video dash cameras to an effective fleet safety program, and shares how to maximize the return on your investment (ROI) in these next-generation dash cameras. 

You can download a short eBook that captures all of this information at: info.intellishift.com/maximize 

Transcript

Hello, I’m John Carione, host of the ConnectedOps Visionaries podcast. Today I’ve got one of our shorter “connected insight” episodes for you. These special episodes deliver actionable insights and best practices that you can immediately put to work in your business.

We get a lot of questions from fleet operations and fleet safety managers about whether it pays to put AI video dash cameras in their vehicles. That’s what I want to talk about today, because whether you’re new to dash cameras or considering an upgrade from standard cameras to an AI solution, there are things you need to know in order to get the best return on your investment.

And let’s face it, AI video cameras are an investment. There’s the cost of the equipment, then you’ve got to make your vehicles available for installation, plus you’ve got to train your drivers to adopt and correctly use this new technology. But the upfront investment can be a fraction of the payback. That’s because these cameras offer a host of benefits that reduce your costs, while protecting your drivers and your brand.

First, with AI dash cams in your vehicles, you’ll reduce accidents, violations and their associated costs

In fact, a Journal of Safety Research study found that trucks with dual-facing cameras saw a 60% reduction in accidents. That’s right. A 60% reduction in accidents – and an 86% reduction in accident-related costs. 

And when you combine that with the FMCSA findings that distraction, fatigue, lane departure, and improper following distance are all top causes of driver-related, large-truck fatal crashes – the return on AI video cameras is even higher – because they can detect and help prevent these behaviors in real time, with in-cab coaching.

And fewer accidents also means less downtime, which results in greater efficiency and the ability to deliver a better customer experience.

Second, you’ll have the evidence needed to exonerate drivers from false claims 

Without getting into a lot of statistics, I’ll just point out that studies show that in as many as 80% of car-truck crashes, the truck driver is not at fault – yet frequently takes the blame. That means your driver is unfairly put on the line, along with your business and its financial health.

So, if you’re looking to improve your bottom line (and operator morale), AI dash cameras provide the video and GPS evidence needed exonerate drivers from false claims – and eliminate hefty legal expenses and claim payouts.

Third, you’ll gain leverage to lower your insurance premiums

It’s not just fleet operators that see the significant safety improvements and cost savings that come with AI dash cameras – insurance companies recognize it as well. And some carriers will offer discounts, credits, or subsidies for fleets that install these cameras.

And even if your insurance company doesn’t give an up-front discount, when your policy renewal time rolls around you’ll be able to provide solid stats that prove your reduction in accidents and violations. That’s pure leverage to justify a discount – or at least cap the escalating costs you’re likely seeing today. 

Fourth, you’ll cut maintenance costs and extend asset life 

The added insight provided by AI dash cameras can help you identify and reduce wear and tear on your vehicles, leading to longer asset life. You already know that things like harsh braking, rapid acceleration and excessive idling are costing you money. By using the data captured by the AI camera’s G-force sensors, along with your telematics data, you’ll know exactly how severe these incidents are, and get snapshots of insight into what’s happening in the vehicle and on the road so can pinpoint the coaching needed to lower your costs.

Fifth, AI video dash cameras will pay dividends in time saved

If you’ve got standard dash cameras, I don’t have to tell you how tedious and time consuming it is to pore over hours of video footage just to identify a single coachable moment – or to package up the evidence you need to exonerate your driver from a false claim. 

AI cameras automatically timestamp the event data and make it available for on-demand review. Think about all the time you could gain back to focus on activities that drive your bottom-line results.

Finally, AI dash cams protect your brand

Your fleet vehicles are moving billboards, and how they operate directly impacts your brand’s reputation. With in-cab alerts and audible coaching to reduce risky behaviors – and manager alerts and enhanced scorecards to improve coaching and training – you’ll have data-backed confidence that your drivers are being safe and courteous on the road. 

So when you add up all of these benefits, I think you’ll agree that the return on investment here is outstanding – both in terms of reducing costs and, most importantly, in saving lives.

That’s more than artificial intelligence, it’s smart business!

And don’t worry if you didn’t have a chance to capture all of these benefits that you’ll want to consider as you plan your solution, you can download a short guide that captures all of the information at: info.intellishift.com/maximize 

You can also find the link in the show notes.