Auto Trader unveils Co-Driver, an AI-driven retail platform aimed at enhancing efficiency and growth.
- Co-Driver will significantly reduce the time required to create detailed car and van listings.
- The platform includes features like Smart Image Management, AI-Generated Descriptions, and Key Selling Points.
- Co-Driver was developed by over 400 data scientists and engineers, enhancing retailer operations.
- Auto Trader’s annual report shows continued revenue growth, highlighting their success.
Auto Trader has introduced a new platform named Co-Driver, which utilises artificial intelligence (AI) and machine learning to streamline retail operations. This innovative tool is set to reduce the time spent on creating detailed car and van listings from 30 minutes to just a fraction of that time. Retailers will gain access to Co-Driver through their Auto Trader Portal accounts, and integration with existing systems is possible via Auto Trader Connect.
The Co-Driver platform features multiple components, each designed with specific functionalities to enhance retail performance. The first feature, Smart Image Management, is scheduled for release this month. It automatically organises images according to buyer preferences and identifies any missing elements. Following this, two additional features will be launched: AI-Generated Descriptions, which crafts descriptions for potential buyers using Vehicle Identification Number data, and Key Selling Points, which highlights the most crucial specifications of vehicles.
The Co-Driver system was developed by a dedicated team of over 400 in-house data scientists and engineers, marking over a decade of investment in AI technologies. This platform builds on existing AI tools that have already improved retailers’ decision-making processes regarding sourcing and stocking, using metrics like Market Health and Retail Rating.
Founded in 1977, Auto Trader has established itself as one of the UK’s leading used car marketplaces. According to its latest annual report, the company has experienced a steady 14% increase in revenue over the past two years, reaching over £570 million this year. Their share price has risen by more than 20% year-to-date, following a prior decline.
Auto Trader’s Co-Driver represents a significant advancement in the use of AI for improving retail efficiency and growth potential.