Sales bots powered by artificial intelligence (AI) could soon be selling cars as effectively as humans, according to Swedish video tech pioneer Phyron.
In fact, this could happen as soon as 2025, Phyron CEO Johan Sundstrand believes. The speed at which self-learning software is developing and being embraced by retailers means that a fully competent AI-powered sales bot is as close as 18 months away, he said.
“We know the automotive retail market is more competitive now than ever before. In this environment, anything that gives your business a competitive edge and increases efficiency should be welcomed,” Sundstrand enthused.
“AI-powered videos have proven to sell cars three to five days faster, and the addition of AI-powered voiceover will only increase impact and efficiency.
“It’s only a matter of time before the technology advances to a point where the likes of ChatGPT can get very close to how a salesperson sells cars offline. We think this could be as soon as 2025 based on the current speed of AI development and adoption,” he added.
In theory, dealers looking to sell more vehicles at a faster pace can leverage the power of AI and take full control of the custom templates at a customer, campaign or product level.
Every variable in the data feed can be utilised to make an engaging voiceover to accompany the video including the intro, outros, the “why us” and the crucial call-to-action sections.
Generative AI utilizing Phyron’s own Large Language Model (similar to GPT-4 software) has been specially trained and fine-tuned for the automotive retail sector to produce bespoke manuscripts on a vehicle’s key attributes.
The AI can produce the voiceover from existing car ads, marketplace, and technical data. It works with any input, from 5 to 5 000 words and can write the manuscript from the OEM copy, the dealers’ website or predefined templates.
The team has been working with car retailers and partners since 2019 and now counts over 1,500 customers across Europe equating to 100,000 cars currently carrying a Phyron video in the ads.