Cerence and CerebrumX to Develop New Data-Enabled Use Cases, Insights and Services for the Automotive Ecosystem

Rhea-AI Summary

Cerence Inc. (NASDAQ: CRNC) and CerebrumX have entered a strategic partnership to enhance the connected car experience and generate new revenue streams for OEMs. This collaboration integrates CerebrumX's Augmented Deep Learning Platform (ADLP) into Cerence Drive, facilitating real-time data insights. With over 50 million connected vehicles, the integration aims to unlock value through AI-powered applications such as predictive maintenance and usage-based insurance. This partnership positions Cerence to capitalize on the growing opportunities within the automotive data ecosystem.

Positive

• Partnership with CerebrumX to enhance connected car capabilities.
• Integration of ADLP into Cerence Drive to leverage real-time data.
• Potential for new revenue streams through AI-powered applications.
• Access to over 50 million connected cars for data utilization.

Negative

• None.

Partnership unlocks new insights for OEMs to better serve drivers, introduce new business models and create new revenue streams

BURLINGTON, Mass., and PRINCETON, N.J., March 04, 2021 (GLOBE NEWSWIRE) -- Cerence Inc. (NASDAQ: CRNC), AI for a world in motion, and CerebrumX , a startup using connected car data and augmented learning to maximize the value of connected vehicles, today announced that they have entered into a strategic partnership. Together, the companies will enable OEMs to create new revenue streams based on connected car data by creating new AI-powered applications, insights and services that improve the in-car experience and enhance safety and security.

Following Cerence’s strategic investment in CerebrumX alongside LG Technology Ventures, the companies will integrate CerebrumX’s Augmented Deep Learning Platform (ADLP), a real-time, cloud-based platform for car-generated data and insights, into Cerence Drive, the world’s leading technology and solutions portfolio for mobility. As cars become increasingly connected with significant data generated on a minute-by-minute basis, this integration will help both companies’ customers better leverage that data to generate value through new products, including over-the-air, usage-based add-ons; driver behavior scoring/analysis; predictive maintenance; fleet analytics and usage-based insurance.

“Cerence has long been at the forefront of providing best-in-class capabilities to our OEM customers via voice and AI-powered technologies, including Cerence Drive, an OS-agnostic platform that is already widely deployed by automakers worldwide,” said Prateek Kathpal, Chief Technology Officer, Cerence. “There are more than 50 million cars connected to the Cerence Cloud today, and our investment in and partnership with CerebrumX will enable us to leverage vehicle and driver behavior data from those cars to unlock new revenue streams and business models for OEMs. We look forward to working with CX to support the continued development of this innovative technology.”

“Companies in the automotive value chain are finally acknowledging the value derived out of connected car data, but are struggling to leverage it. OEMs and other players in the automotive ecosystem can benefit from the partnership between Cerence and CerebrumX as it will not only help in successfully developing connected car use cases but will also help them differentiate their services with their competitors,” said Frost & Sullivan Mobility Research Analyst Anubhav Grover.

CerebrumX’s ADLP enables automotive OEMs and ecosystem partners to build next-generation applications by gathering data from vehicle sensors and augmenting it with real-world data. The ADLP client will run embedded within the cloud-enabled and vehicle OS-agnostic Cerence Drive platform and can be updated and configured remotely over the air. ADLP enables new use cases and unlocks a new level of insight that automakers can leverage to better serve drivers, creating new opportunities, including:

• Improved safety through proactive notifications about upcoming road hazard warnings, weather changes, construction zones, or breakdown risks, as well as predictive maintenance notifications.
• Connected infotainment with the opportunity to leverage real-time vehicle location information to deliver optimized routing with reduced delivery or travel times, as well as target location information before arriving at destination.
• Insurance savings for drivers by sharing vehicle and driving data that is consented through ADLP to usage-based insurers.
• Customer consent-based data on media preferences will enable users to benefit from more relevant and richer content.

“We are excited to welcome Cerence as an investor and a technology partner. As we integrate our offerings, we look forward to working together with OEMs and vertical partners in the media, usage-based insurance, and retail spaces to enhance the reach and depth of AI-based cloud computing capabilities enabled by connected car data,” said Sumit Chauhan, Co-Founder and COO of CerebrumX. “The partnership will enable us to continue the expansion of our Data Management Platform and, together with Cerence, leverage our cloud and AI experience to provide inferences that are intuitive and trusted and that redefine the driver experience.”

For more about CerebrumX, visit www.cerebrumx.ai. To learn more about Cerence, visit www.cerence.com, and follow the company on LinkedIn and Twitter.

About Cerence Inc.
Cerence (NASDAQ: CRNC) is the global industry leader in creating unique, moving experiences for the mobility world. As an innovation partner to the world’s leading automakers and mobility OEMs, it is helping advance the future of connected mobility through intuitive, powerful interaction between humans and their cars, two-wheelers, and even elevators, connecting consumers’ digital lives to their daily journeys no matter where they are. Cerence’s track record is built on more than 20 years of knowledge and more than 350 million cars shipped with Cerence technology. Whether it’s connected cars, autonomous driving, e-vehicles, or buildings, Cerence is mapping the road ahead. For more information, visit www.cerence.com.
    
About CerebrumX
CerebrumX (www.CerebrumX.ai), headquartered in Princeton, NJ, USA and with offices across NA, EMEA and APAC, provides a ubiquitous data management platform spread across the Edge and Core Network to our partners (OEMs, Media, Insurers, Fleet Companies, Smart Cities/Municipalities, etc.) to enable the activation of connected car data that is as yet un-utilized to any significant level due to the absence to the right Automotive Ecosystem.

Contact Information
Kate Hickman
Cerence Inc.
Tel: +1 339-215-4583
Email: kate.hickman@cerence.com

Kapil Arora, CSO
CerebrumX
Tel: +91 9741711833
Email: kapil.arora@cerebrumx.ai

FAQ

What is the partnership between Cerence and CerebrumX about?

Cerence and CerebrumX have partnered to create AI-powered applications that enhance the connected car experience and generate new revenue streams for OEMs.

How many connected cars does Cerence currently have?

Cerence has over 50 million connected cars utilizing its cloud technology.

What technology is CerebrumX providing to Cerence?

CerebrumX is providing its Augmented Deep Learning Platform (ADLP) to integrate into Cerence Drive.

What are the benefits of the new AI-powered applications?

The applications will improve safety, enhance infotainment, offer predictive maintenance, and enable usage-based insurance.

What is the significance of this partnership for OEMs?

The partnership allows OEMs to leverage connected car data, enhancing their service offerings and differentiating from competitors.