Perhaps the paramount goal of the Automotive Intelligence Summit is to make sense of all the questions you have about the current developments in the automotive industry, as well as those to come. While all of our speakers and panels will help answer those questions, your best chance to ask the questions most pertinent to your specific interests will be at the peer-to-peer roundtable sessions on Tuesday and Thursday. These intimate gatherings will seat you with an expert in one of the AIS core topics and allow you to bounce ideas off of them and the rest of the interested parties at the session, formulating strategies for the future of auto.
Here’s a rundown of our P2P sessions, in chronological order:
Boasting over 30 years of legal experience with Hudson Cook, CarMax and private practice, Patty Covington knows her way around some case law, and she’s seen enough change over the past few decades to have a good frame of reference of what to expect from the future. Covington’s expertise has been sought by dealerships, leasing companies, auto-sales financiers, tech providers and more, and she’s well-versed in auto finance, personal property and installment lending, dealer law, creditor-based collections, privacy and, perhaps most importantly to her sessions, data security and management.
Covington’s roundtable, “The Endless Opportunities to Get and Use Data — Are There Legal Implications?” will explore the legal issues businesses should consider when collecting, purchasing, handling, analyzing and using data. She’ll field questions on what laws may apply to the collection, handling, analysis and use of data, and hopefully, you’ll learn tips and tricks from you colleagues on how they’re using data.
Jeremiah Wheeler heads DRN’s fintech business, overseeing the business development, data collection and strategy efforts driving DRN’s license plate recognition data and analytics solutions. His expertise serves him well to lead his peer-to-peer session, “Break the ‘Same Data, Same Mistakes’ Cycle with Location Intelligence,” a master class in demonstrating how to use alternative data to improve your business practices.
As insurance carriers, financial services companies and public safety organizations turn to vehicle-location data and analytics to fight fraud, mitigate risk and fight crime, this data disrupts the old models that rely on customer-reported data and opens new opportunities to drive revenue and results. Furthermore, Wheeler will argue that old data models are failing companies in the long run. Be sure to ask Wheeler how best to implement location data to better your bottom line.
It’s a question that seems simple enough on its face. However, we all know that simple questions can open multiple cans of worms. Luckily, we have people like Kartheek Veeravalli around to help answer these tough questions.
Along with being a member of the 2017 class of Auto Remarketing’s 40 Under 40, Veeravalli currently serves as chief product officer at defi SOLUTIONS. Prior to that, he helped create decision-management platforms for multiple Fortune 500 companies across the world while working at FICO and built a short-term lending portfolio to $100M via the use of customer analytics while portfolio risk manager at Think Finance. So, despite his youth, Veeravalli possesses the bona fides necessary to answer the tough questions.
Veeravalli plans on his peer-to-peer roundtable to be a widely engaging session. From the question posed by the title, “Are You Ready for the New Age of Auto Finance?” Veeravalli hopes, with your participation, to field and answer questions about recent changes and coming innovations in the auto-finance sector, tech solutions best suited to take advantage of the market and what adjustments you and your peers are making or planning to get ready for the future.
If you’re already registered, you can start planning your questions. If you’re not, check out the attendee list and then make your way over to the registration page to add your name.
Scott Painter, CEO and founder of Fair, has joined the list of presenters at the inaugural Automotive Intelligence Summit in Raleigh this summer. His session, a fireside chat with Cherokee Media Group President Bill Zadeits titled “Is It the End of Car Ownership as We Know It?”, will discuss how the automotive customer experience is transforming conceptually, from the idea of personal car ownership to car-as-a-service subscriptions.
“As an automotive entrepreneur, AIS is an amazing opportunity to interact with industry participants at all levels about an incredibly critical topic in our industry: What’s coming next?” Painter said. “Whether you’re a dealer, manufacturer or innovator in the space, the auto business is going through a massive transition and attracting interest and investment at unprecedented levels — all of it enabled by technology and generational shifts in consumer behavior.”
Painter, whose business created a flexible car-ownership app, believes consumer attitudes, needs and demands are shifting towards a subscription model like those witnessed in music, film and television.
“It’s no secret that big changes are coming to our industry.”
— Scott Painter, Fair
“For those of us who work in auto retail, we need to be nimble and adapt to how people want to access cars,” Painter said. “If we embrace this change early, we also have a chance to shape our own destiny. Subscriptions can provide customers with the car they want for a set, all-inclusive fee with no long-term commitment while dealers get an effortless, pre-packaged, full-gross sale that has unbelievable potential in creating repeat customers.”
Painter also contends that Fair will facilitate the “full digital transition that other industries went through years ago,” and that dealers and other automotive companies must adopt new models in order to remain in business, but they can still thrive.
Painter enters a speaker faculty representing other major auto, tech and finance companies, such as IBM, Cox Automotive, SAS, IHS Markit, STRATIM, Equifax, NADA, Ernst & Young and FICO.
Scott Painter’s attitude and Fair’s business model embody the very spirit of the Automotive Intelligence Summit, and we’re beyond delighted to have him on board. You can see him speak at AIS at the Marriott Crabtree Valley in Raleigh, N.C. on Tuesday, July 24 at 4:30 p.m.
To learn more about Painter and Fair, check out this episode of the Auto Remarketing Podcast featuring Painter and Fair co-founder Georg Bauer. Then, you can register for AIS here. The early bird registration period lasts through June 22.
If you haven’t already, take some time to check out the Automotive Intelligence Summit Agenda here!
The Automotive Intelligence Summit focuses on the future of the automotive sphere through eight different lenses we call the AIS Core Topics: Connected Mobility, Fintech Solutions, Transportation Research, Economic Forecasts, Predictive Analytics, Mergers & Acquisitions, Compliance & Regulations and Investment Capital. In today’s blog post, we’re highlighting the topic of Connected Mobility.
The vehicle of the future depends upon connected mobility. Whether that means your Tesla receives remote software updates or an autonomous vehicle can link up with the upcoming 5G network, connected mobility will play an enormous role in the next decade and has already become a major talking point in the auto industry. For example, all the major operating systems of the autonomous vehicle, from GPS to its AI, depend fully on this concept.
Here are two presentations on the AIS agenda this summer that will address Connected Mobility…
In the coming years, we must identify necessary, proactive and prescriptive strategies when it comes to monetizing connected data in the auto sector. If you’re wondering how strategy teams can generate new money from data, what common barriers prevent new value from realization or how to pitch specific uses to internal stakeholder, make sure to take notes during SAS Principal Automotive Consultant Lonnie Miller‘s keynote address, “Connected Strategies that Drive Monetized Results,” on Wednesday, July 25 at 8:30 a.m. Lonnie will draw from numerous conversations with manufacturers and suppliers that reveal why and how robust analytical strategies fuel emerging connected and mobility services, as well as illustrate how companies both accelerate and get in their own way when it comes to delivering and acting on new customer insights.
Michael Perugi, principal automotive industry consultant for Acxiom, has helmed some of the most successful marketing campaigns for vehicles over the past three decades, including a stint as brand manager for the Chrysler 300. Connected vehicles hold promises of transforming from a means of transportation to a smart system doing more than getting to a final destination, and Perugi recognizes that OEMs and in-vehicle technology companies need help navigating this frontier to meet customers’ expectations and fulfill their desires. In his session, “Connected Services: The Point at Which Automotive, Financial Services & Insurance Intersect,” Perugi expounds upon the findings of a joint survey between Acxiom and JD Power evaluating consumer attitudes on four key topics: Connected Vehicle Services, Data Sharing, Autonomous Vehicles and Ride- and Car-Sharing. You can catch it on Tuesday, July 24 at 1:30 p.m. or Thursday, July 26 at 9:15 a.m.
Do you have any questions about connected mobility? Ask them in the comments below! That’s what we’re about with AIS… For all your questions, all the right answers.
Want to learn more about the Automotive Intelligence Summit? Sign up on the home page to receive notifications for AIS updates. Already convinced you want to attend? Then you can register here. The early bird registration period lasts through June 22.
Seemingly constant innovation, disruption and technological advance instills a whirlwind atmosphere in the automotive sphere, and the Automotive Intelligence Summit seeks to provide answers to your questions about the future of the auto industry. In order to distill all that wild change and data into actionable insights and tangible knowledge, we’ve laid out eight core topics upon which the speakers and presenters at AIS will focus.
Like those old Nationwide Insurance commercials stated, “Life comes at you fast.” It’s never been as true as it is now. But with predictive analytics, you can better prepare for shifts in the automotive world.
Generally speaking, predictive analytics is the combined use of data, statistics, model simulations and artificial intelligence to make predictions about the future — an extremely valuable resource in these dynamic times. With predictive analytics, you aren’t just reacting to changes as they occur; the hope is to foresee developments in finance or the auto industry and equip yourself with strategies to weather those changes or, even better, benefit from them.
As you likely know (or could at least guess), “fintech” is simply the portmanteau of “financial technology;” with the advent of technologies like blockchain and cryptocurrencies, fintech solutions are necessary to improve and protect this new mode of financial services, especially in auto finance.
Just as an example, one of the most talked-about innovations in the financial world right now is the idea of blockchain — the buzzword of the hour for quite a few hours now. What is blockchain, and how can it revolutionize auto finance as we know it? It will surely play into the presentations of those speakers focusing on fintech solutions.
With the ongoing approach of automated vehicles, electric/hybrid cars and transport, ride-sharing and other innovations, transportation research must accompany these disruptions before and as they occur in order to make these revelatory advances safer, more efficient and more effective. Data points that might be discussed in transportation research could include rates of use for mass transit, the state of ownership of personal vehicles and other emerging technologies that could impact the way we approach driving, shipping and more.
Money rules the world. It especially rules the world of the automotive future. With so many fresh disruptors and startups arriving on the scene in recent years, the need for investment capital will only increase as we move forward.
Everybody wants to profit off the Next Big Thing, and each new company hopes to be that Next Big Thing. In this climate, investment capital becomes the bridge between this symbiotic relationship, providing startups with the push they need to break the big time and, thus, venture capitalists with a return on their investment.
The vehicle of the future depends upon connected mobility. Whether that means your Tesla receives remote software updates or an autonomous vehicle can link up with the upcoming 5G network, connected mobility will play an enormous role in the next decade and has already become a major talking point in the auto industry. For example, all the major operating systems of the autonomous vehicle, from GPS to its AI, depend fully on the concept of connected mobility.
Mergers & Acquisitions
These days, mergers and acquisitions might seem as natural as death and taxes. It plays into the concepts connected with investment capital — Company A likes Company B’s big idea, and they’ve got the capital for it, they’re going to get in on it… except a bit further than just plugging money into the company. As a relatively recent example, IHS — parent company of Carfax — purchased similar Canadian company CARPROOF late in 2015 and in mid-March of this year, CARPROOF announced a full rebranding to CarFax Canada, effective in October. These sorts of deals will only increase as startups of all kinds decide to cash in with more established businesses and corporations.
Who doesn’t want to know how financial markets will behave in the future? With help from predictive analytics, economic forecasts are a highly helpful resource, impacting confidence in auto finance and other AIS core topics.
Whether it’s looking at the supply of and demand for electric vehicles in the coming years or the swings of Wall Street and its effect on investment capital, predictions for the money markets across the country, continent and world will help determine the future of automotive and auto finance itself.
Compliance & Regulations
Boring? Maybe. But we won’t shame you if you’re a policy wonk — quite the opposite, in fact. Knowledge of compliance and regulations is of paramount importance when considering all the changes coming to the auto industry.
Instead of looking at compliance and regulation in a reactive fashion, we must anticipate the need for regulatory compliance. Think of the fatal Arizona Uber debacle — with further research and sturdier regulations, this tragedy could’ve been avoided. At the same time, though, Forbes reported that Arizona would become the first American “regulatory sandbox” for fintech. In short, regulatory compliance doesn’t have to be restrictive; it can herald innovation.
If you’re interested in the future of the automotive space, make sure you attend the Automotive Intelligence Summit, July 24–26 at the Marriott Crabtree Valley in Raleigh, N.C. Register online by June 22 to enjoy $400 off the onsite registration rate.