What a year it was for AI! While the press was filled with deafening chatter about the myriad possibilities for these new cognitive capabilities, automotive retailing was undergoing a profound transformation. So, was the hype about GPT justified? Well, yes and no . . .
GPT’s sudden injection of massively intelligent natural language capabilities felt like hitting the jackpot for those who’ve followed AI’s evolution. But unfortunately, breakthroughs like ChatGPT don’t directly solve any operational challenges. Think of it like electricity and the toaster: the potential is there, but specific applications need to be developed to deliver the benefits. And if those applications aren’t carefully and purposefully designed, things can quickly go off the rails. That’s why at Impel, we’re laser-focused on building an AI-powered platform designed to meet the needs of the most demanding automotive retailers and manufacturers. A platform that drives business outcomes while delivering brand-enhancing experiences at every touchpoint. A platform that meets the highest levels of data security and privacy with strict controls to prevent hallucinations and thwart malicious jailbreaks. In short, a platform that sets the standard for AI in the automotive industry.
Last year, our engineers spent countless hours working overtime to take advantage of the latest generative AI technologies and further improve our dealer and OEM offerings. We refined our Large Language Models to better understand the nuances in customer interactions and preferences, transforming how we communicate with consumers. We moved away from highly prescriptive messages to more personalized interactions that reflect a real understanding of each individual customer. We went deeper into integrating specific information—like vehicle specs, inventory data, and service schedules—into our AI systems. These integrations ensure that our AI is not only conversational but also knowledgeable about even the most specific detail. And last year, we extended our award-winning digital merchandising capabilities even further, launching AI Virtual Booth, a breakthrough in using applied computer vision AI to deliver an ultra-realistic photo booth experience without the need for dedicated space or capital investment.
We’ve got lots of exciting things planned for 2024 and we can’t wait to share them with you. From entirely new AI-powered applications to LLM enhancements and integrations that will enable us to drive even greater business impact for our customers, it’s going to be one of our biggest years yet. And stay tuned for some BIG partnership news coming soon.
The transition to a smarter, more automated world is gaining momentum. With investments in AI expected to reach $200B globally by 2025, there is no end in sight to the innovation that will be fueled by this truly transformational technology. It’s going to be an exciting journey, so buckle up and enjoy the ride!
