AI Digital Auction Sales Process Efficiencies For Buyers And Sellers

"We're running on efficiency - and the model is efficiency and effectiveness (for not only us as a company, but for our dealers, credit unions, our buyers, and sellers).
And so (as I start thinking about VR and AI), it's funny you mention gamifying (by the way) because I'm always thinking about, "How can we gamify, maybe our app, or our site?"
But, in the VR world (you know, I started thinking about), maybe an introductory training to use our site for dealers, you know, kind of help them understand, "I push this button, I push that button."
Our site is pretty intuitive, but it certainly would help to have a nice, little VR introductory training. And then on the company side, I would expect VR to help us with onboard training.
So as we do grow and as we build employees and stages and regional departments, the onboard training is so much - I think it can be so much more quicker to adapt, and I think you guys kind of hit that at the beginning of the program (so I was thinking about that as well).
From an AI standpoint, you know, the intelligence, the automating tasks piece... there's a number of solutions I think we can learn in the wholesale or auction business.
Certainly, a solution is on the condition reporting itself (writing up these cars).
As I mentioned, we don't hire 600 vehicle inspectors. We believe that the dealer understands the vehicle the best and writes up their own car. But if we could help them understand how to write that car up, or maybe even involve some AI in writing up the car condition to make that process go a lot faster and smoother - certainly a solution there.
Another solution I think, maybe, is just the service entering key questions. So any kind of key questions that come into our company - it would be really nice to have AI rather than the four of us trying to answer every question and still be out on the road (and so I look at that).
And then I look at it as an opportunity post-purchase. So as you're buying cars and selling cars on the site with the auction, things come into play with AI that I think could automate titles, payment, arbitration - the kind of desk work that we do to satisfy the sale and make sure that post-sale and post-purchase (as smooth as possible for our customers).
And the last thing I was thinking about was maybe the AI helping us with (it wasn't mentioned, but I can certainly see it as a solution for) performance reporting within our company, and helping us understand kind of where we've been, where we are, and where we're going.
I love performance reporting and having that data available quicker will allow us to make decisions faster and target our dealers better.
And then I just wrote down a note here, because I was completely unaware that our guests are in the collections AI piece (and as you see in my background there), we do a lot of work with credit unions and banks and repossessions.
Collections is part of our vocabulary, you know, ten times every hour. So we're constantly looking at repossessions and we have a special section in our auction that focuses just on repossessions and catering to the credit unions and banks.
So, all that stuff (I did a little bit of homework, I don't know enough). I know enough to be dangerous, but not enough to be smart, Jay.
So I'm learning and I can't wait to (kind of) get in the future." #auction #sales #ai
- Mark Corrao, Leadership & Strategic Improvement, Carsker Auto Auctions
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