2023 will undoubtably go down as the year AI hit the dealership world. With Chat GPT hitting the market combined with Microsoft and Google Bard dominating the headlines, the real question is how dealers will leverage AI to their advantage.
At Dealerslink, we really feel that AI applied to data science is far more powerful for car dealers than generative AI. After all, dealers sell physical cars that are already very well designed. Sure, generative AI can clip image backgrounds and write automated vehicle descriptions. However, the best use case is found when unleashing powerful AI learning models on competitive and historic sold vehicle data. This has the potential to revolutionize how data and analytics drive intelligent valuation decisions when desking. Our first-generation models already analyze how some vehicles are more profitable than others, running complex calculations on the fly. These are math equations the average human simply can’t compute. It allows for powerful profit margin suggestions when desking or buying used vehicles. This ensures your staff gets top dollar for every vehicle sold and optimizes every trade to pay the right price for the right vehicles.
When used properly, computers make the complex feel simple. Our goal is to take millions of data points into our model and deliver simple, actionable decision points to the end user. With AI the power to compute and analyze becomes even more powerful. We’re implementing AI-driven tools at Dealerslink, and the first will be ready for the public at NADA. And like AI itself, we’re just getting started.