4:53 am, April 7, 2024
On August 16, 1991, Arnold Schwarzenegger donned the leather jacket and sunglasses for the second time for the cinematic release of the film Terminator 2.
The film franchise was built around the idea of a human-built AI that had gone rogue and deemed humanity a threat that needed to be terminated!
Nearly 33 years and a few missteps with the film franchise later, humanity, I am happy to say, is still alive and kicking.
It wasn’t until a year or so ago that the subject of AI also resurfaced and started featuring heavily in the news and mainstream media.
Much of the coverage has been negative, with many sharing their doubts about its applications and some even proclaiming, much like the Terminator films, that it will be the end of us all!
I have used AI a lot, and personally, I think the ‘end is nigh’ thinking is going a little overboard.
AI is not as good as some would have you believe, but that doesn’t mean I think the motor trade should ignore it either.
Car manufacturers are already incorporating AI into their production lines to become more efficient, embedding AI into the next generation of self-driving cars, and trying to find ways to improve the car-buying experience.
AI isn’t just for large companies, though; anyone can use it, whether you employ 10,000 people or a handful.
There are many ways that you can use AI to help in the daily running of your dealership.
If you’ve not used AI before and aren’t sure where to start, try asking it to rewrite the descriptions of your cars that you have for sale.
Simply ask an AI such as ChatGPT to rewrite one of your adverts to make it more engaging for customers, and then decide if you want to use what it suggests.
Many dealerships are also using AI to analyse what stock they’re selling, how long certain models take to sell, which are the most profitable and what stock they should consider buying when visiting the auctions, too.
AI does have its limitations, but I believe it should be considered as a tool that can enhance what you already do and just make certain things simpler, save time and even increase profits in some instances.
While I don’t think Terminator 2’s Judgment Day is going to happen anytime soon, AI isn’t going anywhere – and it’s a tool that many in the motor trade should start investigating, because if you don’t, you can bet your competitors will!
If you’d like to work with a forward-thinking sub-prime finance company that’s ready for whatever the future holds for the motor trade, click here to get set up with us.
This column appears in the current edition of Car Dealer – issue 193 – along with news, reviews, features and much more! Read and download it for FREE here!
