Capital one services, llc (20240249322). Systems and Methods for Valuation of a Vehicle simplified abstract
Contents
Systems and Methods for Valuation of a Vehicle
Organization Name
Inventor(s)
Chih-Hsiang Chow of Coppell TX (US)
Elizabeth Furlan of Plano TX (US)
Systems and Methods for Valuation of a Vehicle - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240249322 titled 'Systems and Methods for Valuation of a Vehicle
- Simplified Explanation:**
The patent application describes systems and methods for analyzing images to identify and value individual components in an image, specifically for vehicles being sold. The valuation application uses machine learning to identify and value vehicle components in images and videos provided by the user.
- Key Features and Innovation:**
- Valuation application utilizing machine learning to identify and value vehicle components in images and videos.
- Communication with websites via APIs to prompt users to enter information and upload images/videos of their vehicle.
- Search functionality to determine the value of identified components.
- Tabulation and summarization of vehicle component resale values for the user.
- Potential Applications:**
This technology can be applied in online vehicle selling platforms, insurance claim processing, and automotive industry research and analysis.
- Problems Solved:**
The technology streamlines the process of valuing vehicle components for resale, providing users with accurate and efficient information.
- Benefits:**
- Saves time for users looking to sell their vehicles.
- Provides accurate valuation of vehicle components.
- Enhances user experience in online vehicle selling platforms.
- Commercial Applications:**
"Machine Learning Image Analysis for Vehicle Valuation" can revolutionize the online vehicle selling industry, improving efficiency and accuracy in valuing vehicle components for resale.
- Questions about Machine Learning Image Analysis for Vehicle Valuation:**
1. How does the machine learning model accurately identify and value vehicle components in images and videos? 2. What are the potential implications of this technology on the automotive industry?
- Frequently Updated Research:**
Stay updated on advancements in machine learning algorithms for image analysis and valuation applications to enhance the accuracy and efficiency of the technology.
Original Abstract Submitted
aspects described provide systems and methods that relate generally to image analysis and, more specifically, identifying individual components and elements in an image. the systems and methods include a valuation application executing one or more application program interfaces (apis) communicating with one or more websites via a network, where the user is prompted to enter information and/or take pictures or videos of their vehicle that they would like to sell. the valuation application utilizes a machine learning model to identify and value the various vehicle components within the images and videos. based on the machine learning model, the valuation application identifies each component according to the images and videos and performs a search to determine the value of the components identified. the valuation application tabulates and summarizes the vehicle component resale values and resell information for the user to view.
