TL;DR:
- Swedish video tech pioneer Phyron foresees AI-powered sales bots selling cars as effectively as humans by 2025.
- Self-learning AI software is rapidly advancing and gaining acceptance in the retail sector, paving the way for competent AI-driven sales bots.
- AI-powered videos have demonstrated the ability to sell cars faster, and voiceovers are expected to enhance impact and efficiency.
- Generative AI, trained specifically for the automotive retail sector, can produce personalized manuscripts on a vehicle’s key attributes.
- Dealers can leverage AI to control custom templates for individual customers, campaigns, or products.
- Phyron’s technology has gained popularity, with over 1,500 customers and 100,000 cars featuring Phyron videos in ads.
Main AI News:
Swedish video tech pioneer Phyron is breaking new ground with its ambitious vision for the automotive retail market. According to Phyron’s CEO, Johan Sundstrand, sales bots driven by artificial intelligence (AI) could soon outperform human salespeople in selling cars. The bold prediction suggests that as early as 2025, we might witness fully competent AI-powered sales bots taking charge of car sales.
The rapid development and widespread adoption of self-learning software in the retail industry have propelled this AI revolution. Sundstrand asserts that within a mere 18 months, we could see the emergence of an AI-powered sales bot that rivals human capabilities in selling vehicles.
The automotive retail landscape has become fiercely competitive, compelling businesses to embrace any advantage that enhances efficiency and secures a competitive edge. Sundstrand believes that integrating AI-powered videos into car sales can significantly expedite the process, with cars being sold three to five days faster. Moreover, the inclusion of AI-powered voiceovers in these videos promises to augment impact and efficiency, further empowering the sales process.
Phyron envisions a future where AI technology, akin to the sophistication of ChatGPT, can closely emulate a human salesperson’s prowess in offline car sales. Leveraging the current trajectory of AI development and adoption, Phyron anticipates this reality to materialize by 2025.
Practically speaking, dealers aiming to boost sales velocity can harness the power of AI to personalize templates at various levels, catering to individual customers, campaigns, or products. The versatility of generative AI, driven by Phyron’s custom Large Language Model (similar to GPT-4 software), has been expertly honed for the automotive retail sector. This tailored approach enables the production of bespoke manuscripts highlighting a vehicle’s key attributes.
The AI engine can craft compelling voiceovers by analyzing diverse data feeds, such as existing car advertisements, marketplace listings, and technical specifications. With inputs ranging from 5 to 5,000 words, the AI can skillfully draft manuscripts based on OEM copy, dealers’ websites, or predefined templates.
Phyron’s groundbreaking technology has already garnered substantial traction in the European market, boasting over 1,500 satisfied customers, translating to 100,000 cars currently featuring Phyron videos in their ads. The company’s success lies in its seamless integration of AI-driven solutions, revolutionizing the way cars are sold and empowering dealers to thrive in an increasingly competitive landscape.
Conclusion:
The rise of AI-driven sales bots in the automotive retail market could have significant implications for the industry. By 2025, we may witness the emergence of highly competent AI-powered bots capable of rivaling human salespeople in selling cars. The implementation of AI-powered videos and voiceovers has the potential to expedite the sales process and enhance customer engagement. Dealers stand to benefit from this technology by utilizing AI to tailor personalized messages and efficiently cater to customers’ needs. As the market embraces AI-driven solutions, competition among dealers is likely to intensify, making it crucial for businesses to embrace these advancements to gain a competitive edge.
