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 Economic Forecasts.
Piggybacking on last week’s post on Predictive Analytics, the world of economic forecasts will be much more viable as financial technology and analytic systems continue to advance by leaps and bounds and become more and more sophisticated. The improving accuracy of economic forecasts will impact confidence in auto finance and other AIS core topics, as well as consumer confidence. Whether it’s inspecting the supply of and demand for electric vehicles in the coming years or the swings of Wall Street and their effects on investment capital, predictions for money markets across the country, continent and world will help determine the future of automotive and auto finance itself.
Here are two sessions that will serve as excellent Economic Forecasts…
Consumer demand and its interaction with supply conditions, economic factors and the resulting sales and price fluctuations is a mind-boggling challenge to keep up with, let alone predict. Thankfully, we have brilliant people like Jonathan Smoke, chief economist of Cox Automotive, to help us in these endeavors. In his presentation, “The Never-Ending Quest for Intelligence in Automotive,” Jonathan will share insights from his 20-plus-year quest to understand the interconnection of the auto industry and will chart where we are in the cycles impacting sales and prices. Smoke will provide a framework for analyzing consumer demand and how credit trends vary and impact personal economics. The big takeaway: Focus on consumers, the source of real demand, and what matters most to them. You can catch him on Tuesday, July 24 at 1:30 p.m. or Thursday, July 26 at 9:15 a.m.
In his keynote address, “Automotive Industry Outlook: Navigating the Waters with an Eye on the Horizon,” IHS Markit Executive Director of Automotive Analysis Mike Wall will provide a high-level economic review and outlook for global sales, along with a deeper-dive discussion of IHS Markit’s light-vehicle US sales outlook and an overview of powertrain, technology and mobility trends. While the circumstances surrounding his forecast between now and late July could change, of course, Wall contends the outlook for the auto industry remains generally positive. Look forward to Mike telling you why. You can’t miss his session on Wednesday, July 25 at 1:30 p.m., after the mid-summit Lunch & Learn.
Do you have any questions about auto’s financial future? 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.
The Automotive Intelligence Summit represents the newest and most daring venture by Cherokee Media Group. AIS’ mission is to bring together top minds to make sense of all the data flooding all corners of the auto industry, synthesize it into actionable knowledge and mold the future of the automotive sphere.
While Cherokee Media Group offers other opportunities for networking, learning and sharing information — including our flagship conference, Used Car Week, or the Auto Remarketing Canada Conference — AIS represents a distinct step forward. Here’s how AIS sets itself apart.
Forecasting the Future
The entire focus of AIS centers on new and emerging technologies, data, analytics and business intelligence impacting the whole of the automotive and auto-finance industries. On the other hand, UCW stands alone as a convergence of specifically the used-car industry each fall. While UCW fits solidly in the wheelhouse of “all things used, pre-owned and remarketing,” AIS extends beyond the used-car business to encompass the broader automotive and auto-finance industry.
Additionally, while UCW assesses what’s happened and how that impacts the industry in the next few years, AIS looks forward — it will inspect what’s happening now, what will occur in the future and how to prep for the coming decade and beyond.
Presenters and Attendees
The unique combination of the AIS speaker faculty and brain trust is a blend of top-tier executives and companies that will share new insights, analysis and technologies aimed at those with a keen desire to learn more about what’s next and how can it help their business grow.
Executives asking themselves, “What’s next?” and, “How does our company leverage what’s next?” will certainly learn something new, discover fresh opportunities and establish useful contacts at AIS.
— Bill Zadeits, Chairman, Automotive Intelligence Summit
The ideal audience of AIS would include executives at the C-suite level or venture capitalists at OEMs, dealership groups, banks, credit unions, captive finance companies, private equity firms and tech startups, but we also encourage financial consultants, data scientists, transit authorities, university professors and anyone else willing to learn more about coming advances in the auto industry to attend.
Location, Location, Location
AIS’ situation in Raleigh, N.C., is an intentional decision on multiple levels. The Triangle, and North Carolina as a whole, has a lot to offer. The Research Triangle Park — the largest research park in the United States, and one of the largest in the world — harbors many leading-edge companies in the technology space; for example, our corporate offices are just a few minutes’ drive to the world headquarters of SAS. To complement the innovative incubation in the RTP, the Triangle is also home to some of the premier higher-learning institutions in the nation, including NC State University in Raleigh itself, Duke University and UNC-Chapel Hill. Furthermore, Charlotte has established itself as one of the country’s top banking centers— it’s the third-largest in the nation, after New York and San Francisco, and the financial hub of the Southeast.
“The location choice of the RTP and North Carolina was something we’ve being eyeing for a while, and AIS provides a great opportunity to host an event here,” said AIS Chairman Bill Zadeits.
The Road Ahead
Finally, AIS presents a unique opportunity for growth and development as an annual event after the initial delivery of this high-value inaugural experience.
“As we continue to add value over time, the event will continue to grow and evolve,” said Zadeits. “There’s no cap on technology or business intelligence. And we’re committed to delivering a great experience for our attendees.”
Click here to register for the first annual Automotive Intelligence Summit and take part in the future of automotive. To learn more about the summit’s content and presenters, read this blog post on AIS’ eight core topics, check out our ever-growing slate of speakers and peruse the agenda.
Everyone knows the old maxim, “Knowledge is power.” It’s true. But knowledge requires understanding to be effective.
The concept for the Automotive Intelligence Summit initially sprang to mind one day as I scanned the attendee lists for a number of recent conferences we had produced and attended.
I noticed that there were a lot of new, never before seen titles for executives that were attending the events: VP of Data Analytics, Business Intelligence Manager, Director of Predictive Analytics, VP of Fintech, EVP of Innovation, Global Head of Fintech, Director of Innovation Labs — the list went on and on. Add to that my very humble understanding of industry terms like connected mobility, blockchain, autonomous vehicles and others that were dominating the conversations at these events. It occurred to me that the automotive and auto-finance industries are in the midst of dramatic change — rapid, constant, kinetic change that will require a significant shift in mindset and skill set for those with careers in these industries.
While we take a great deal of pride in the work we do to provide great content at all of our events, it became clear to me that an event with an emphasis on sharing information and business intelligence on these subjects and more would be valuable to those at the highest levels of auto and auto-finance businesses across North America. The idea that, in a world where we communicate so frequently through digital channels, we could involve, inspire and provide increasing levels of intelligence to our core audience and beyond became AIS.
We selected an area close to our corporate headquarters on the borders of the Research Triangle Park in North Carolina to host this inaugural event with the hopes of sharing new, disruptive and business-building technologies, information and data. And to do so on a human level — person-to-person, building companies and, even more critically, building relationships.
As daunting as the topic of machine learning may be to me, it’s the passion of others who not only have a grasp, but a deep understanding and vision of what all this constant innovation can do for businesses in automotive and auto finance. We’ve worked to provide the highest level of content, learning and intelligence to be shared with executives in the industry. We’ve worked to create an environment well-suited for those with a desire to learn to engage with these topics. We’ve worked to provide a forum where you can broaden your horizons, meet new people, learn new and exciting things and put you and your company in a better position to succeed in this fast-paced environment.
We’ll offer content for executives at the OEM and C-suite level, for auto finance and fintech companies, and for dealership executives who are interested in taking their businesses to the next level of success.
To wrap things up, let me leave you with this: At this year’s JD Power Automotive Summit, I heard CarStory President & CPO Chad Bockius state, “This industry has been inundated with data, when what we need is answers.” With AIS, we aim to provide you with more information, of course, but we also want to provide you with the right answers to all of your questions. That’s why we’re holding the Automotive Intelligence Summit — to turn all that raw data that’s swamped the industry into useful, actionable knowledge.
Please consider this a personal invitation to come join us.
I look forward to seeing you soon, and I’m sure it will a very interesting few days.
Cherokee Media Group