There has been a lot of hype surrounding artificial intelligence in recent years. And rightly so. Some experts say artificial intelligence is the next leap forward in the retail industry. But until dealerships understand exactly how it can benefit their businesses, artificial intelligence is just a buzzword. Automotive software veterans Mo Zahabi and Chase Abbott recently sat down to discuss how artificial intelligence can add value to dealerships now and in the future.
A Better Work Experience for Employees
Dealership sales employees spend a lot of their time doing redundant tasks that take them away from customers. These tasks also lead to low employee morale over time as they become more menial and repetitious. Mo Zahabi, senior director of product consulting at VinSolutions, says that artificial intelligence helps take some of tedium out of the equation for employees.
Artificial intelligence can streamline many of these tasks, making a salesperson’s job much more enjoyable. Chase Abbott, vice president of sales at VinSolutions, says that artificial intelligence tools are specifically designed to make life easier for dealership employees, including providing them with “every arrow in the quiver they need to win a car deal.”
A Better Buying Experience for Customers
Dealerships are often left guessing what customers want and the best ways to deliver a personalized car buying experience. Now, artificial intelligence allows dealerships to gain valuable insights into what customer buying preferences. “Artificial intelligence us the path to deliver the best customer experience possible,” Mo said.
Chase believes that early artificial intelligence adopters will be among those that benefit most from the technology. “Artificial intelligence will provide early-adopting dealers with leverage points to gain market share,” he said. “And then ultimately, with this type of technology providing a great experience, these dealers will retain that market share going forward and ultimately conquest new customers away from their competition.” Chase added that artificial intelligence has the potential to provide so much relevant information to customers, specifically tailored to their individual tastes, those customers sometimes think it is a coincidence. “It’s not a coincidence,” he concluded. “It’s just technology.”
To learn more about how artificial intelligence can benefit your business, watch the full video interview.