Cars.com CEO Alex Vetter reminded listeners during the second-quarter earnings call that AI has long been a part of his company’s DNA.
Reporter covering dealers and retail technology
Auto dealerships may be gingerly testing generative artificial intelligence technology, but Cars.com CEO Alex Vetter recently reminded people his company has long embraced AI and will continue to do so.
“Increasingly innovation is becoming synonymous with adoption and integration of artificial intelligence,” Vetter said during the company’s second-quarter earnings call on Aug. 3. “We have been doing this for some time.”
He explained the Chicago-based company uses AI behind the scenes in a variety of ways, such as with its Conversations Chat tool, which instantly connects customers with dealerships 24/7. There’s also Cars.com’s AnaBot AI-fueled chatbot. AnaBot handled 60 percent of all conversations in its Marketplace and Dealer Inspire websites during the quarter and “continues to self-educate and improve,” Vetter said.
And yes, generative AI (think ChatGPT), a next-generation form of AI that can write and converse like humans do, is in play. Vetter confirmed Cars.com is exploring its use in a variety of ways, including to synthesize consumer sentiment about dealership experience, vehicle reviews and listing details.
“I am excited about the power and potential of generative AI to improve our products,” Vetter said.
Will dealerships follow Cars.com’s example and take the generative AI plunge? We’ll see in the coming months. As Automotive News reported in July, they are dabbling with the technology in various parts of their business, testing how it works with existing retail technology products and tools.
Let’s see where dealerships and their technology stand in a year. By then, they may be crowing about generative AI’s benefits like Cars.com is doing now.
