Artificial Intelligence in the Automobile Industry
Artificial intelligence promises to revolutionize the automotive industry. Here we are not even talking about the impact AI is having on autonomous driving, connectivity, electrification, and shared mobility.
Using AI and Big Data in the automobiles sector creates numerous opportunities to reduce costs, improve operations, and generate new revenue streams. Further, the need to understand and analyze visual contents to gain meaningful insights is the real deal!
The ability to harness data is enabling masses of big data to be utilized to form actionable customer segments and individual offers and incentives to increase sales and customer retention. If one analyses the second-hand car market through data harvesting from say, top 10 car resale portals, the learnings are huge.
- Size of the market is astounding
- Identifying the latest developments, market shares, and strategies employed by the major market players
- You can analyze and dissect the brand ‘slice of the pie’
- Analytics can reveal insights for resale and new opportunities
- Use data to up-sell new cars
- Associated industries like motor insurance, auto-repair, banks and refinance companies can procure new business
- Study data relating to the customer financial history and preferences
- When data collected is used for sentiment analysis and market segmentation, vehicle marketing becomes more meaningful
- Statistics and trends analysis are available 24/7 through an interactive dashboard
Cyber Gear is now offering an AI-based technology solution called sbot which can help automobile companies increase their efficiency and profitability.
4 PILLARS OF SBOT
- VOLUME
sbot can collect terabytes of data from a variety of sources, including web portals, social media, and information from in-house data.
- VELOCITY
Data streams in at an unprecedented speed and is dealt with in a timely manner. sbot deals with torrents of data in near-real time.
- VARIETY
Data comes in all types of formats – from structured, numeric data in traditional databases to unstructured text documents, email, video, audio, stock ticker data and financial transactions.
- VERACITY
We have achieved almost 99% accuracy of data based on our AI-based algorithm for cleaning data. sbot intelligently connects and correlates relationships, hierarchies, and multiple data linkages.
For a no obligation, demo visit https://www.cyber-gear.com/sbot
