Over the past few months, we have shared sneak previews of sessions that will be held at 2024 Digital Dealer Conference & Expo (#DDCE2024)! But the introductions we have written have left attendees wanting more.

To that end, session leaders have offered an expanded explanation of what is in store at their session in Las Vegas. Numa’s Derek Simmonds offers a deeper insight for the session titled Transformative Power of Autonomous AI Agents.

Generative AI seems to be at the center of every conversation these days — and with good reason. The rapid rise of this technology is enabling businesses to do things that previously weren’t possible, unlocking new ways to streamline processes, maximize output, and ultimately maximize revenue.

The same pattern is being seen in the automotive industry. Car dealerships are quickly recognizing the potential of generative AI and are looking for ways to incorporate it into their workflows. If you’re thinking of doing the same, this blog post is for you. We’ll cover exactly what generative AI is and the use cases for this technology in your business.

What is Generative AI?

Generative artificial intelligence (AI) is a deep-learning language model that’s capable of generating text, images, videos, or other data — based on the data it was trained on. You’ve likely heard about this technology in the context of platforms like ChatGPT.

The capabilities of these tools are quickly changing the way business operate and the direction in which industries are evolving. In particular, generative AI’s ability to mimic human dialogue and decision-making is changing the way businesses are run across industries.

At this point, you might be wondering: what does this have to do with my car dealership?

The role of generative AI in the automotive industry

How to Use GenAI

Right now, there’s an opportunity for automotive dealerships to access, and harness, the disruptive potential of generative AI to transform their customer operations for exponential growth — allowing them to break away from their competitors and the incumbent players of today. Specifically, there are three benefits that generative AI can bring to your business if utilized in the right way:

1. Improved customer experience: One of the most critical levers that car dealerships need to pull to increase profitability is to improve the customer experience. Happy customers will continue to return to your business, while unhappy customers will generate churn — costing your business in more ways than one. With the right generative AI tool, your business will be able to catch every single inbound call, streamline your communication efforts, and even identify when customers are frustrated with your services — so that you can address the problem proactively, rather than being caught off guard.
2. Increased profitability: The goal of every car dealership is to maximize profitability — this is the key to keep your business running in a sustainable way. Generative AI has the capacity to boost your profits in a variety of ways, whether that’s by enabling BDCs to make more outbound calls that generate revenue or by reducing the need to hire new employees as your business scales.
3. Maximized employee productivity: There’s an ongoing narrative that generative AI is going to take over people’s jobs, but this couldn’t be further from the truth. What this technology does, in reality, is that it enables your existing employees to do their jobs better and faster.

The truth is that your team is likely spending hours every week on tasks that could easily be automated. For instance, instead of listening to or reading transcriptions of customer calls, the right generative AI tool can produce short, accurate summaries that can save your employees a significant amount of time, allowing them to turn their attention to tasks that require more attention and care.

Tapping into Generative AI for Your Business

All of this only scratches the surface of generative AI’s capabilities. There’s a reason why the most modern, cutting-edge car dealerships are already leaning into this technology to run their businesses better. If you don’t take advantage of the inflection point we’re currently in, there’s a good chance you’ll start to lag behind and lose business to your competitors.

DDCE2024 Events

#DDCE2024 is a 2.5-day event, Oct. 8-10, 2024, at MGM Grand in Las Vegas that will bring together automotive dealers, OEMs, thought leaders, and solution providers to power business growth and connections. The 2024 Digital Dealer Conference & Expo is your chance to discover innovative solutions and gain cutting-edge strategies, actionable insights, and new ideas to implement for maximum impact.

Digital Dealer Conference & Expo will include:

• Enhanced networking: more meetups and fun ways to connect throughout the event
• A Speed Networking program, which offers dealerships and vendors a relaxed yet efficient way to explore a variety of innovative solutions
• An expo hall with 120+ cutting-edge auto retail solutions
• 75+ actionable sessions
• Masterminds and interactive labs
• And more!

Digital Dealer offers full conference and expo badge options, as well as an expo hall-only option for Dealerships/OEMs. Digital Dealer Conference & Expo attendee badge types include:

• Dealership (exclusively for dealers and employees of a dealership)
• OEM (exclusively for vehicle manufacturers)
• Allied (anyone that supports, services, or sells solutions to dealerships falls under this category)

Click here to register now.