DAT’s New Risk Assessment Engine Enables Unprecedented Industry Trust and Transparency
October 11 2023 - 9:28AM
Business Wire
Proprietary data, AI-powered engine will
automate the vetting process
DAT Freight & Analytics today introduced an innovative new
risk assessment engine that uses artificial intelligence and DAT’s
extensive proprietary data to give customers an unprecedented level
of insight into a potential partner’s risk profile and
performance.
The announcement was made at DATCON23, DAT’s annual conference
and networking event for freight brokers and shippers.
DAT’s new risk assessment engine uses machine learning and AI to
aggregate data and produce the industry’s most comprehensive,
real-time measure of a motor carrier’s risk exposure to a broker.
The engine factors several types of information into its
assessment:
- Monitors data exclusive to DAT, including search and posting
behaviors on DAT One.
- Continuously checks the completeness and accuracy of carrier
profile information.
- Automatically flags suspicious activity.
By integrating DAT's existing Multi-Factor Authentication (MFA)
with Verosint’s (DAT’s ID verification vendor) in-depth identity
verification data, we can now provide an unparalleled assessment of
risk, ensuring even tighter access to the DAT marketplace.
As cyber threats become more sophisticated, DAT remains
committed to safeguarding its users through advanced technological
measures. This innovative risk assessment engine is the next step
in offering shippers, brokers, and carriers a secure, reliable
environment to manage their freight.
“Spot market transactions rely on speed and are often conducted
without brokers and carriers ever meeting,” said Satish Maripuri,
DAT president and CEO. “Trust and transparency are essential to a
successful relationship, especially at a time when brokers and
carriers need to be vigilant about the authenticity and performance
of potential partners. With more than 350 million truck and load
posts on the DAT One marketplace this year, DAT is uniquely
positioned to equip customers with the information they need to
confidently make the right choice.”
DAT’s risk assessment engine is integrated into the DAT One
platform, allowing customers to review risk assessments without
leaving the load board. It also can streamline a cumbersome carrier
onboarding process, which can disrupt workflows and lead to
misjudgments about risk and performance.
DAT will apply its risk-assessment engine first to carrier
performance, followed by a similar approach to evaluating brokers.
It will be available starting in early 2024.
“DAT has the advantages of vast amounts of data, a wide range of
customers to collaborate with and a proven ability to deliver AI,
machine learning and data science at scale,” said Maripuri. “Other
onboarding and monitoring services rely predominantly on public
sources. Our risk assessment engine combines that information with
DAT’s depth of proprietary data. I am especially proud of the
velocity of our DAT teams, who are bringing this innovative
solution to market in record time.”
The risk assessment engine is one of several initiatives
introduced this year by DAT to promote transparency and reduce the
risk of fraud in spot market transactions. These include:
- Predictive fraud detection, identity verification and
multi-factor authentication to detect and stop suspicious logins
and activity on the DAT network.
- An expanded Network Integrity Unit (NIU) dedicated to
investigating reports of fraud.
- Anti-fraud education and training for customers.
- Collaboration with customers and industry partners, law
enforcement agencies and regulators in the fight against
fraud.
For more information about DAT’s fight against fraud, visit
www.dat.com/fraud-protection and www.dat.com/news-releases.
About DAT Freight & Analytics
DAT Freight & Analytics operates the largest truckload
freight marketplace in North America. Shippers, transportation
brokers, carriers, news organizations and industry analysts rely on
DAT for market trends and data insights based on more than 400
million freight matches and a database of $150 billion in annual
market transactions.
Founded in 1978, DAT is a business unit of Roper Technologies
(Nasdaq: ROP), a constituent of the S&P 500 and Fortune 1000
indices.
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version on businesswire.com: https://www.businesswire.com/news/home/20231011678123/en/
Annabel Reeves, Corporate Communications 503-501-0143;
annabel.reeves@dat.com
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