Auto Trader has launched ‘Co-Driver,’ an AI-powered platform to enhance retail performance.
- The platform aims to reduce the time required for creating car listings from 30 minutes to mere moments.
- It offers features like Smart Image Management and AI-Generated Descriptions to streamline retail operations.
- Key Selling Points is another feature that highlights the most crucial vehicle specs for potential buyers.
- Developed by over 400 experts, Co-Driver is part of Auto Trader’s ongoing AI investment strategy.
Auto Trader has introduced Co-Driver, a revolutionary AI-powered platform, in its latest move towards enhancing retail efficiency and growth. The multi-part rollout promises to cut down the time-consuming process of creating car and van listings, which traditionally takes about 30 minutes. Retailers will find the new software accessible via their Auto Trader Portal accounts, with seamless integration into third-party systems through Auto Trader Connect.
Auto Trader is aligning itself with other major e-commerce firms such as Amazon and eBay, who have been leveraging machine learning to improve customer satisfaction and drive sales growth. This strategic shift supports Auto Trader’s ongoing mission to remain at the forefront of innovation in the automotive retail market.
In this new offering, Smart Image Management is the first feature being rolled out, designed to organize images optimally based on buyer preferences. This tool not only categorizes the images but also flags any missing elements deemed critical for buyer engagement.
Following shortly will be AI-Generated Descriptions, a feature that synthesizes detailed vehicle descriptions instantly, including specific Vehicle Identification Number (VIN) data from manufacturers. This capability draws on a massive database comprising over 600 million minutes of monthly searches, aiming to paint a comprehensive picture of customer desires and preferences.
Additionally, Key Selling Points identifies and emphasizes the most significant specifications of a vehicle, whether pertaining to the model or an individual unit, thereby enhancing the attractiveness and potential for purchase.
Co-Driver’s development was driven by a robust team of over 400 data scientists and engineers, marking Auto Trader’s decade-long investment in AI technology. These tools complement their existing machine learning innovations, which include aiding retailers with sourcing and stocking decisions based on Market Health and Retail Rating indicators.
Auto Trader, a major player in the UK used car market since its founding in 1977, continues to report steady growth, boasting a 14% revenue increase over the past two years. The company’s revenues for this year have surpassed £570 million, while its stock has risen over 20% to 847.8p, following a previous downturn in April.
Auto Trader’s Co-Driver platform marks a significant step in utilizing AI for transformative retail processes, setting a new standard in the industry.
