Conversational artificial intelligence (AI) is a new and swiftly evolving tool that can speed up the sales process and improve customer retention within the dealership. However, as with any major technological innovation, it can be difficult to understand what the potential applications are or whether it is truly effective.
On this episode of Inside Automotive, host Shyann Malone is joined by Cole Kutschinski, president and CEO of ICOM AI. Hailing from the retail automotive sector himself, Kutschinski explains exactly how the new technology can used and what problems it can solve.
Key Takeaways
1. AI has multiple applications in the dealership, from marketing to data analysis. Conversational platforms can leverage machine learning to assist the sales process.
2. Conversational AI can conduct a variety of tasks autonomously. For instance, it can answer basic consumer questions about availability or financing through a messaging system, with the goal of setting an appointment with a sales representative.
3. Conversational AI can also conduct follow-ups, boosting customer retention and helping dealers identify any issues a customer may have experienced post-sale.
4. Kutschinski expects to see conversational AI improve in terms of functionality and effectiveness in the coming years. As machine learning evolves, the technology could soon automate tasks in areas such as after-sales.
5. The more data is fed into conversational AI algorithms, the more powerful they will become. Kutschinski notes that while the technology can be overwhelming for dealers to understand, it becomes much more simple to grasp when framed in terms of ROI.
"The models are very complex, the AI is very complex. But our application of it and the process that we run when applying it is very simple, very straightforward, and easy to comprehend." — Cole Kutschinski
