Former Cox Automotive and LivePerson Executive Skip Dowd Joins Impel as Senior Director, Partnerships | Read More

Former Cox Automotive and LivePerson Executive Skip Dowd Joins Impel as Senior Director, Partnerships | Read More

Impel Blog

Generative AI in The Automotive Industry

Welcome to the AI revolution, where machines are capable of creating and innovating on their own. Powered by advanced algorithms and deep learning techniques, generative AI has revolutionized the field of artificial intelligence. 

With generative AI, computer systems can create new content, such as images, music, text, and even entire virtual environments. Businesses across the globe are unlocking this unrivaled computing power, accelerating production and automating business operations like never before. In fact, according to a survey by McKinsey and Company, generative AI can provide a boost in additional value above traditional analytic techniques, ranging from 30% to 128%, depending on the industry.

Generative AI models create original data and content by learning patterns and structures from existing data. For any business leader, generative AI is a game-changing opportunity applicable to most business operations, from software engineering, sales, relationship management, customer support, and content creation. For auto dealers, generative AI can create virtual showrooms, augment reality experiences, boost operational efficiency, and provide instant and personalized customer support and engagement, improving the overall customer experience.

At Impel, we’ve been working with Large Language Models (LLMs) – a type of generative AI that produces text-based content – for the past seven years. This means we’ve refined our Sales AI and Service AI solutions to take full advantage of recent developments in generative AI technology. Below, we discuss how auto dealers around the globe leverage Impel’s Sales AI and Service AI solutions to drive operating efficiencies and achieve greater business results across the entire customer lifecycle.

Generative AI in the Automotive Industry creates seamless sales processes 

Selling relies on interactive and transaction-intensive processes, producing large volumes of data, including video, audio, and email chains (along with other forms of text). Generative AI models are built to work with this type of unstructured data, automating documentation and helping salespeople write emails, organize notes, and automatically update CRM information.

At Impel, we understand the difficulties sales representatives face when identifying and connecting with qualified leads. Prospecting and lead generation require a significant investment of time and effort. The struggle to find and engage with high-quality prospects can be a major pain point, impacting productivity and overall sales success. That’s why Impel has invested heavily in AI innovation to create the industry’s most advanced automated communication platform that works day and night.

Impel’s Sales AI model can access customer data to extract preferences and behaviors instantly. Our AI model synthesizes answers to customer questions with personalized content that has a human touch. We fine-tune our LLM solutions with prompt engineering based on millions of auto-shopper interactions and tailor our applications to address the specific business goals of auto dealers. Through our digital engagement platform, auto dealers can leverage shopper behavioral data across the entire customer lifecycle to provide greater context and achieve superior results.

Generative AI supercharging your service department 

AI-powered automation is like having a relentless detective that sifts through your customer records, utilizing sales data, service history, and manufacturer recommendations to deliver personalized outreach. At Impel, we harness this AI capability to supercharge the service department, which is often an underleveraged revenue stream for dealerships.

Impel’s Service AI takes it up a notch by sending timely service updates and friendly reminders, ensuring that your customers’ vehicles are in top-notch condition. Our Service AI system drives a surge in service appointments, enhancing the customer experience and boosting customer satisfaction.

Realize value quickly by outsourcing generative AI technology 

Generative AI in the automotive industry is a fast-growing market, with new models and applications being developed and released rapidly. ChatGPT (GPT 3.5), for example, was released in November 2022, which was soon followed by GPT-4 released in March 2023. Hence, it’s important business leaders move fast and don’t get stuck in the planning stages of implementation. By partnering with generative AI vendors and experts, like Impel, progress can be accelerated. Impel’s AI platforms harness the cutting-edge power of GPT, solidifying our position at the forefront of technological innovation. This remarkable advancement enables us to push the boundaries of what’s possible, empowering us to deliver unparalleled solutions and establish ourselves as leaders in the field.

Utilizing external generative AI providers will remove the time-consuming and resource-intensive task of building and refining an AI-powered system. Plus, buying existing applications reduces the need for specialized in-house talent and makes it easier to keep up with the fast-changing technology. It is, however, advised that leaders and technical teams spend time reflecting on where and how to implement generative AI solutions, and Impel can help you here. The Impel team will act as your guide. We’ll leverage our extensive experience from working with thousands of others to recommend best practices for integrating AI into your business.

Generative AI in the automotive industry has the transformative power to create value in a wide variety of use cases. For this reason, Impel is working on exciting new initiatives that will bring generative AI to even more business functions, helping automotive dealers stay ahead of the game. Watch this space!

Learn more from Harvard Business Review about How Generative AI Will Change Sales and how CEOs across the globe are already leveraging generative AI systems in this McKinsey Digital article.