As we look to tell the stories about people and the products that support auto dealerships, Digital Dealer is shining the spotlight on companies that help dealers do their job more effectively.
We recently interviewed Todd Smith, CEO of QoreAI, reflected on his 30-plus year career and offers his insights into the ever-evolving automotive technology landscape. Smith discussed how he has built two technology startups focused on the automotive industry, the positive effects AI will have on dealers and his advice for those entering the workforce.
DIGITAL DEALER: What was your first job in the industry, and what did it teach you?
QoreAI CEO Todd Smith: My first job was washing cars. It taught me the importance of paying attention to the little things, as they make all the difference in delivering exceptional results, and building processes to create consistent results.
DIGITAL DEALER: What is your proudest accomplishment in the industry?
Smith: I have built two successful technology startups that solve real problems for people in the automotive industry. I take pride in the talented teams I have helped build and the innovative solutions we have created to help people do their jobs better. I am proud of pioneering live chat before anyone in the automotive industry even knew what it was. The idea came out of my Chevrolet dealership, changed how we engaged shoppers on dealership websites, and turned into an amazing company many dealers use today.
DIGITAL DEALER: What do you enjoy most about your role, company, and/or the automotive industry?
Smith: As an entrepreneur and leader, I thrive on the daily challenges of building a startup. From product development to company positioning and team building, there is never a dull moment in this dynamic industry. And I really enjoy the people—I have so many friends in this business over a 30-plus-year career that have inspired me.
DIGITAL DEALER: Please tell us about your core offerings, any new products or features, and how automotive dealerships are best leveraging those.
Smith: Our platform tackles the messy middle of a transaction by streamlining the deal-making process by integrating customer identity, credit processing, and document management into a single, user-friendly system. This enables dealerships to work smarter, foster collaboration, and deliver exceptional customer experiences, all while keeping the customer at the center of every interaction.
DIGITAL DEALER: Can you highlight any recent innovations or strategies that set your company apart in the market?
Smith: At QoreAI, we are committed to putting the customer at the center of everything we do. Our AI-powered platform simplifies car buying, offering transparency, personalization, and efficiency. By empowering dealerships to work smarter, we create a more positive environment for employees, allowing them to focus on building genuine connections with customers.
DIGITAL DEALER: What values and principles drive your organization, and how do you ensure they are reflected in the day-to-day operations and interactions within the company?
Smith: Our core values are to be a connector, not a toll road; be innovative, not iterative; and help our team and partners in everything we do. We embed these values in our daily work, fostering a culture of collaboration, creativity, and support.
DIGITAL DEALER: What trends do you think will significantly impact the automotive industry in the coming years?
Smith: AI will transform the automotive industry, not by replacing jobs but by enhancing our work within those jobs. It will streamline consumers’ decision-making, helping them find the perfect vehicle that meets their needs. A lot will change quickly over the next 18 months, impacting how we market and sell vehicles.
DIGITAL DEALER: Looking ahead, what exciting developments or initiatives can dealerships expect from your company in the near future? Are there specific goals or milestones that your team is working towards?
Smith: We are thrilled to deliver the first DealershipOS, paving the way for a connected technology ecosystem in the automotive industry. Our team is dedicated to continuously enhancing our platform to serve dealerships and their customers better. This much-needed platform addresses the struggle virtually all dealerships face with too many disconnected systems, which slow the consumer purchase experience and lead to poor shopping experiences. We aim to help our dealer partners defend against fraud and create consistent and secure communication with their shoppers from anywhere to create a consistent customer experience. Plus, we deliver to our dealer partners a single automated platform on which dealer teams can access all the tools they need to complete a transaction and communicate internally and directly with the customer throughout the purchase journey without logging into multiple applications.
DIGITAL DEALER: What are you most excited about in 2024?
Smith: AI has the potential to combat the industry’s growing risk of fraud. We are at a pivotal moment where technology and processes converge, offering exciting opportunities to tackle this challenge and reduce the $8 billion in fraud expected within automotive this year. I am super excited to be working on a completely new technology category for automotive dealerships: the first dealership operating system, or as we refer to it, DealershipOS. This is similar to when Steve Jobs premiered the iPhone by combining a phone, internet browser, and music player. We combine identity verification, document management, and credit analysis into one interconnected communication platform that protects dealers from fraud and helps them sell cars faster.
DIGITAL DEALER: What advice would you give to someone entering the field?
Smith: Maintain a beginner’s mindset. Approach every opportunity and interaction with an open mind, and always be ready to learn and grow. Embrace the challenges and let them fuel your passion for positively impacting your own personal growth and the industry you serve.
