Aktio invests in AI technology

Japanese rental company Aktio is using an AI-based asset value calculation tool developed by tech companies Sorabito and PKSHA Technology.

The ‘i-Rental AI’ tool - developed by Sorabito in cooperation with PKSHA - will use historic sales data from Aktio to evaluate the market value of its fleet and to make predictions on future values, helping the company plan its fleet additions and sales.

Image: Sorabito

Aktio is one of the four market leading rental companies in Japan, alongside Nishio Rent All, Nikken and Kanamoto.

Sorabito said future developments of its AI technology would include a sales forecasting tool, simulations of equipment purchase and disposal strategies, and forecasting of fleet maintenance costs.

The Tokyo-based company was founded in 2014 to develop digital tools for equipment rental companies. It is already offering a rental ordering App and AllStocker, an online exchange for used construction machinery.

Investors in Sorabito include Itochu Construction Machinery and Sumitomo Corp.

Last month, European-based used equipment business Equippo announced that it was launching a fleet valuation tool using telematics data. See the full story here.