Automotive News Canada - March 2024 - 12

12
* MARCH 2024
TORONTO, FEB. 15
Top automotive leaders joined Automotive News
Canada journalists at the Canadian International
AutoShow to address key issues confronting the
industry during this transformative time.
A crash course on
machine learning
Predictive technology
can be a game changer,
but it's a rapidly evolving
environment as 'things are
happening every few months'
By TODD HUMBER
T ORONTO CORRESPONDENT
ARTIFICIAL INTELLIGENCE HAS THE
power to revolutionize business, from managing
inventory to anticipating the buying
cycle of customers, but key issues facing auto
retailers are where to start and how to keep
up, attendees of the Automotive News Canada
Congress heard.
HOST
David
Kennedy
Toronto
bureau chief
" Look at some of the big internet tech
companies. They're really, really
good at being able to predict
people's behaviours, understand
their intent, understand
their preferences, " said keynote
speaker Brian Keng, research
director at Borealis AI, RBC's
Toronto research institute.
Keng is also an adjunct professor
in data science at the
University of Toronto's Rotman
School of Business. He cited the
example of someone looking at a
necklace on a website and then seeing
ads for it later on their Facebook
and Instagram accounts. This is possible
because so much data is being
collected and linked.
It's a sophisticated take on the old
practice of collecting customer information,
keying it into a spreadsheet
and using it to do some direct marketing
with a bit of personalization,
Keng said.
The power of AI, combined with
the sheer amount of data being collected,
can help dealers identify useful
patterns, he said. So many touch
points are being tracked and it's all
data that can be crunched and analyzed
with ease.
Brian Keng
Research
Director,
Borealis AI
For example, AI tools can compile
information on browsing certain
vehicle makes and models, colour preferences
and buying patterns to pinpoint when customers
are most likely to make a purchase.
" That really, from the business side, allows
you to start marketing toward them - understanding
what they want, when they want it,
what price or offers they would want it at, "
Keng said.
NO MORE 'GUT' AND GUESS
AI will never be able to predict with
100-per-cent certainty that the next person
walking through the door is going to buy a
vehicle, Keng said, but the technology does
offer " some kind of probability. "
" It's like . . . this type of profile at this
stage of the buying cycle has a 60-percent
chance of actually buying something,
whereas this other lead has more like a
10-per-cent chance.
AI can't predict that the next person
walking into the dealership is going to
buy a vehicle, said Borealis AI Research
Director Brian Keng, but the technology
does provide an indication of " some kind
of probability. "
" Instead of randomly picking using your
gut, AI typically will have a better conversion
rate. "
SESSION 1
Artificial
intelligence
For inventory management, an obvious
use for AI exists in demand forecasting,
Keng said, and that can
work its way right through the
entire supply chain, helping retailers
manage it " a little bit more
holistically so that you can optimize
over the entire thing. "
But where do retailers start?
Realistically, Keng said, they're not
going to be hiring PhDs to walk in
and write code. They'll need to look
at vendors that offer AI products,
but that can be a tricky exercise.
" It's sometimes hard to pick the
right vendor because there's a lot of
marketing that they do in terms of
claiming they use AI and whatnot, "
he said.
Keng's recommendation is to
work with vendors to conduct
pilot projects to see whether the
AI tools are having a real, measurable
impact on the key performance indicators
that matter to the retailer, " regardless
of what they say they have, making sure it
actually drives those metrics that matter to
you. "
One thing is certain: AI is going to have
an impact on every industry, including
automotive.
" I think that it's hard to predict what
will happen, " Keng said, especially given
the pace of change with AI. Past technology
transformations, even the invention of the
automobile, took decades to unfold and have
a major impact.
" With this era . . . things are happening
every few months, " Keng said.
" All I can say is that things are going to
change. We're going to have to very quickly
figure out how to adapt to that change. "
- ANC
2024 CANADA
A year
PHO T OS BY GIANCARLO P A WELEC
The industry is being
told to sell EVs to
customers who aren't
necessarily ready to
buy them. With the
clock running, what
will it take to meet the
new ZEV targets?
By DAVID KENNEDY
T ORONTO BUREAU CHIEF
AUTOMAKERS WILL SOON
introduce the first model-year vehicles
that fall under the rules of the
new federal zero-emission vehicle
sales mandate. Stakeholders from
across the industry see a steep climb
to overcome, though recent progress
on adoption could lessen the burden.
" We have exactly a year to get
ready for this, " Stephen Beatty,
vice-president and corporate secretary
of Toyota Canada, told attendees
at the Feb. 15 Automotive News
Canada Congress in Toronto.
" There has been a lot of debate
over a lot of time, but there really
hasn't been enough work to lay the
foundation for people to bring battery-electric
vehicles [BEVs] into the
marketplace at the level that they
need to be at in order to hit the targets. "
Beatty
was among four panelists
SESSION 2
ZEV outlook
Elias
El-Achhab
COO, Kia Canada
J.D. Ney
Canadian auto
practice lead,
J.D. Power
Shahin
Alizadeh
President,
Downtown
AutoGroup
Stephen
Beatty
Vice-president
and corporate
secretary,
Toyota Canada
to weigh in on the state of EV uptake
in Canada and the achievability of
Ottawa's ZEV targets.
The recently finalized regulations
specify stepped yearly percent

Automotive News Canada - March 2024

Table of Contents for the Digital Edition of Automotive News Canada - March 2024

Automotive News Canada - March 2024 - Intro
Automotive News Canada - March 2024 - 1
Automotive News Canada - March 2024 - 2
Automotive News Canada - March 2024 - 3
Automotive News Canada - March 2024 - 4
Automotive News Canada - March 2024 - 5
Automotive News Canada - March 2024 - 6
Automotive News Canada - March 2024 - 7
Automotive News Canada - March 2024 - 8
Automotive News Canada - March 2024 - 9
Automotive News Canada - March 2024 - 10
Automotive News Canada - March 2024 - I1
Automotive News Canada - March 2024 - I2
Automotive News Canada - March 2024 - 11
Automotive News Canada - March 2024 - 12
Automotive News Canada - March 2024 - 13
Automotive News Canada - March 2024 - 14
Automotive News Canada - March 2024 - 15
Automotive News Canada - March 2024 - 16
Automotive News Canada - March 2024 - 17
Automotive News Canada - March 2024 - 18
Automotive News Canada - March 2024 - 19
Automotive News Canada - March 2024 - 20
Automotive News Canada - March 2024 - 21
Automotive News Canada - March 2024 - 22
Automotive News Canada - March 2024 - 23
Automotive News Canada - March 2024 - 24
Automotive News Canada - March 2024 - 25
Automotive News Canada - March 2024 - 26
Automotive News Canada - March 2024 - 27
Automotive News Canada - March 2024 - 28
https://www.nxtbook.com/nxtbooks/crain/canada_20240715
https://www.nxtbook.com/nxtbooks/crain/canada_20240617
https://www.nxtbook.com/nxtbooks/crain/canada_20240520
https://www.nxtbook.com/nxtbooks/crain/canada_202404
https://www.nxtbook.com/nxtbooks/crain/canada_202403
https://www.nxtbook.com/nxtbooks/crain/canada_202402
https://www.nxtbook.com/nxtbooks/crain/canada_202401
https://www.nxtbook.com/nxtbooks/crain/canada_202312_supp
https://www.nxtbook.com/nxtbooks/crain/canada_202312
https://www.nxtbook.com/nxtbooks/crain/canada_202311
https://www.nxtbook.com/nxtbooks/crain/canada_202310
https://www.nxtbook.com/nxtbooks/crain/canada_202309
https://www.nxtbook.com/nxtbooks/crain/canada_202308
https://www.nxtbook.com/nxtbooks/crain/canada_202307
https://www.nxtbook.com/nxtbooks/crain/canada_202306
https://www.nxtbook.com/nxtbooks/crain/canada_202305
https://www.nxtbook.com/nxtbooks/crain/canada_202304
https://www.nxtbook.com/nxtbooks/crain/canada_202303
https://www.nxtbook.com/nxtbooks/crain/canada_202302
https://www.nxtbook.com/nxtbooks/crain/canada_202301
https://www.nxtbook.com/nxtbooks/crain/canada_202212
https://www.nxtbook.com/nxtbooks/crain/canada_202212_supp
https://www.nxtbook.com/nxtbooks/crain/canada_202211
https://www.nxtbook.com/nxtbooks/crain/canada_202210
https://www.nxtbook.com/nxtbooks/crain/canada_202209
https://www.nxtbook.com/nxtbooks/crain/canada_202208
https://www.nxtbook.com/nxtbooks/crain/canada_202207
https://www.nxtbook.com/nxtbooks/crain/canada_202206
https://www.nxtbook.com/nxtbooks/crain/canada_202205
https://www.nxtbook.com/nxtbooks/crain/canada_202204
https://www.nxtbook.com/nxtbooks/crain/canada_202203
https://www.nxtbook.com/nxtbooks/crain/canada_202202
https://www.nxtbook.com/nxtbooks/crain/canada_202201
https://www.nxtbook.com/nxtbooks/crain/canada_202112
https://www.nxtbook.com/nxtbooks/crain/canada_202111_supp
https://www.nxtbook.com/nxtbooks/crain/canada_202111
https://www.nxtbook.com/nxtbooks/crain/canada_202110
https://www.nxtbook.com/nxtbooks/crain/canada_202109
https://www.nxtbook.com/nxtbooks/crain/canada_202108
https://www.nxtbook.com/nxtbooks/crain/canada_202107
https://www.nxtbook.com/nxtbooks/crain/canada_202106
https://www.nxtbook.com/nxtbooks/crain/canada_202105
https://www.nxtbook.com/nxtbooks/crain/canada_202104
https://www.nxtbook.com/nxtbooks/crain/canada_202103
https://www.nxtbook.com/nxtbooks/crain/canada_202102
https://www.nxtbook.com/nxtbooks/crain/canada_202101
https://www.nxtbook.com/nxtbooks/crain/canada_202012
https://www.nxtbook.com/nxtbooks/crain/canada_202011
https://www.nxtbook.com/nxtbooks/crain/canada_202010
https://www.nxtbook.com/nxtbooks/crain/canada_202009
https://www.nxtbook.com/nxtbooks/crain/canada_202008
https://www.nxtbook.com/nxtbooks/crain/canada_202007
https://www.nxtbook.com/nxtbooks/crain/canada_202006
https://www.nxtbook.com/nxtbooks/crain/canada_202005
https://www.nxtbook.com/nxtbooks/crain/canada_202004
https://www.nxtbook.com/nxtbooks/crain/canada_202003
https://www.nxtbook.com/nxtbooks/crain/html_test
https://www.nxtbook.com/nxtbooks/crain/canada_202002_v2
https://www.nxtbook.com/nxtbooks/crain/canada_202002
https://www.nxtbook.com/nxtbooks/crain/canada_202001
https://www.nxtbook.com/nxtbooks/crain/canada_201912
https://www.nxtbook.com/nxtbooks/crain/canada_201911
https://www.nxtbook.com/nxtbooks/crain/canada_201910
https://www.nxtbook.com/nxtbooks/crain/canada_201909
https://www.nxtbook.com/nxtbooks/crain/canada_201908
https://www.nxtbook.com/nxtbooks/crain/canada_201908_v2
https://www.nxtbook.com/nxtbooks/crain/canada_201907
https://www.nxtbook.com/nxtbooks/crain/canada_201906
https://www.nxtbook.com/nxtbooks/crain/canada_201905_v2
https://www.nxtbook.com/nxtbooks/crain/canada_201905
https://www.nxtbook.com/nxtbooks/crain/canada_201904
https://www.nxtbook.com/nxtbooks/crain/canada_201903
https://www.nxtbook.com/nxtbooks/crain/canada_201902_v3
https://www.nxtbook.com/nxtbooks/crain/canada_201902
https://www.nxtbook.com/nxtbooks/crain/canada_201901
https://www.nxtbook.com/nxtbooks/crain/canada_201812
https://www.nxtbook.com/nxtbooks/crain/canada_201811
https://www.nxtbook.com/nxtbooks/crain/canada_201810
https://www.nxtbook.com/nxtbooks/crain/canada_201809
https://www.nxtbook.com/nxtbooks/crain/canada_201808
https://www.nxtbook.com/nxtbooks/crain/canada_201807
https://www.nxtbook.com/nxtbooks/crain/canada_201806
https://www.nxtbook.com/nxtbooks/crain/canada_201805
https://www.nxtbook.com/nxtbooks/crain/canada_201804
https://www.nxtbook.com/nxtbooks/crain/canada_201803
https://www.nxtbook.com/nxtbooks/crain/canada_201802
https://www.nxtbook.com/nxtbooks/crain/canada_201801
https://www.nxtbook.com/nxtbooks/crain/canada_201712
https://www.nxtbook.com/nxtbooks/crain/canada_201711
https://www.nxtbook.com/nxtbooks/crain/canada_201711_v2
https://www.nxtbook.com/nxtbooks/crain/canada_201710
https://www.nxtbook.com/nxtbooks/crain/canada_201709
https://www.nxtbook.com/nxtbooks/crain/canada_201708
https://www.nxtbook.com/nxtbooks/crain/canada_201707
https://www.nxtbook.com/nxtbooks/crain/canada_201706
https://www.nxtbook.com/nxtbooks/crain/canada_201705
https://www.nxtbook.com/nxtbooks/crain/canada_201704
https://www.nxtbook.com/nxtbooks/crain/canada_201703_v2
https://www.nxtbook.com/nxtbooks/crain/canada_201703
https://www.nxtbook.com/nxtbooks/crain/canada_201702
https://www.nxtbook.com/nxtbooks/crain/canada_201702_v2
https://www.nxtbook.com/nxtbooks/crain/canada_201701
https://www.nxtbook.com/nxtbooks/crain/canada_201612
https://www.nxtbook.com/nxtbooks/crain/canada_201611
https://www.nxtbook.com/nxtbooks/crain/canada_201610
https://www.nxtbook.com/nxtbooks/crain/canada_201609
https://www.nxtbook.com/nxtbooks/crain/canada_201608
https://www.nxtbook.com/nxtbooks/crain/canada_201607_test
https://www.nxtbook.com/nxtbooks/crain/canada_201607
https://www.nxtbook.com/nxtbooks/crain/canada_launch2016
https://www.nxtbookmedia.com