By Dave Cantin, President and CEO of the Dave Cantin Group
“Artificial Intelligence isn’t there to replace humans, it’s a tool to make humans do better.”
Artificial intelligence is working its way into nearly every industry right now. Most of us are paying attention to the mega-tech names like NVIDIA, Google, Microsoft (OpenAI), and Amazon but AI is beginning to impact businesses across nearly every industry.
We saw this coming and, in the fall of 2022, embarked on our own AI journey – to develop a machine learning tool that could give the automotive industry accurate and reliable dynamic valuations based on hundreds of millions of data points and with an ability to directly compare different dealerships. But something happened along the way.
While we were building the industry’s killer valuation machine, we realized that what we were doing was building a tool that allowed us and our clients to see what was actually driving value.
This week we announced Jump IQ. This is a tool that gives us and our clients unparalleled visibility into the retail automotive landscape. We have a detailed and accurate view into the 18,000+ rooftops in the US, what’s driving their value (or holding it back), and can compare any group of dealerships we want to see.
Like many of the aforementioned companies, including the biggest and most sophisticated in the world, we aren’t quite sure exactly where our AI journey will take us. This is the first inning of the artificial intelligence era. Here are some of the things we do know:
Jump IQ isn’t here to replace the human side of M&A, this is a tool that makes the Dave Cantin Group smarter, faster, more accurate, and able to offer more services to help our dealership clients.
We can figure out specific performance metrics without actually having that data and can do so within a range of 1% – 9% (and we are still in Beta).
We can now help solve one of the industry’s most important challenges: how can automotive companies develop acquisition strategies without having real data and insights into a dealership they think they may want to acquire?
We can help clients better understand their own performance and how that performance leads to value creation because we can not only see the data, but we can adjust the data and allow the AI to predict how those changes will impact value.
Finally, we can allow dealership owners, manufacturers, and frankly all other industry stakeholders (attorneys, accountants, vendors, etc.) to compare performance metrics across different brands providing them with much better insight into how their businesses should or could be performing.
Our goal with Jump IQ is simple, to bring big data into the retail automotive industry to do two things:
- Better advise dealer principals and executives on M&A strategy, M&A transactions, and value creation strategies at the rooftop or portfolio levels.
- Assist the broader industry on how they can develop smarter business strategies around dealership-driven business models.
I invite you to be a part of this exciting evolution with us – Learn More.
Industry Articles/News about Jump IQ and DCG