RikatecBUSINESS DAY FOCUS 4.0
Rikatec is a technology company that is leveraging Artificial Intelligence to become the dominant player in the internet of things (IOT) when it comes to vehicles. It was founded in 2013 by two University of Cape Town students.
The now Bryanston based company focuses on information management systems for vehicles. It uses big data and machine learning to predict and detect vehicle breakdowns in less than 5 minutes, predictive maintenance, vehicle wear & tear, vehicle resale value and driver profiling and driving ratings. This is done through remote diagnostics performed by a Rikatec device on the vehicle every 3 seconds sending the big data received in real time to back-end systems for advanced analytics on the data. Once a fault is detected, Rikatec can communicate which part of the vehicle is at fault and what went wrong. In addition, Rikatec will link vehicle owners to the nearest registered help option within a 10-km radius of the fault. Furthermore, Rikatec prides itself in new ways of working through its ability of creating and digitizing current traditional systems.
Rikatec provides great value to its clients. For instance, the Rikatec device can be used to monitor the way in which a car is being driven, using the APP and the driving habits tools. From the analysis of the driving habits determined, an insurance premium can either go up or down depending on the results provided from Rikatec information systems. This would need analytics that detail CO2 omissions, braking, acceleration etc. This would assist insurance companies manage and price their risk while setting competitive premiums and consumer interaction with our APP as they seek to reduce their premiums. The objective here is to report, compare and educate the driver using efficient driving benchmarks; then rewarding them by a reduction in premiums.
Services We Offer:
- Breakdown prediction & detection
- Predictive maintenance
- Accurate real-time data
- Fleet management
- Driver risk profiling & rating
- Vehicle wear and tear
- Live tracking & recovery
- Service to Insurers