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.
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.
Annabel Reeves, Corporate Communications