The OLX Group has recently launched two revolutionary products using agentic AI at the CLAIM AI summit in Lisbon. The two products, CompassGPT and AutoIQ, have the potential to change the way people purchase homes and sell cars. As a result, the group is now at the forefront of implementing autonomous AI in the entire value chain. CompassGPT is a conversational assistant for property hunters on the Imovirtual portal in Portugal. On the other hand, AutoIQ is an automotive intelligence operating system for car dealers. The two products are capable of simplifying transactions for both first-time and frequent buyers on marketplaces.
“At OLX, we are not waiting for the future of AI; we are creating it. Our AI-first infrastructure, built since 2018 and combined with our proprietary data loop, allows us to deliver industry-defining agentic AI solutions that generic models simply cannot match,” said Christian Gisy, CEO of OLX. “CompassGPT and AutoIQ demonstrate how we’re turning vision into measurable value for real estate agents, dealers, and buyers – and this is just the beginning of our journey to lead the vertical transaction marketplace of tomorrow.”
Investment Driving the AI-First Marketplace
This major technological advancement comes after several years of major investments in artificial intelligence. Since 2018, OLX Group has invested over $200 million in the development of a strong AI-first infrastructure. Today, the platform enables more than 75 active AI use cases across the globe. These particular agential tools enable users to go beyond the conventional search filters. Instead, buyers are able to articulate their needs in simple words. Moreover, the AI agents enable the users to have customized summaries and next steps for each interaction. The AutoIQ system particularly focuses on professional car dealers to make their daily tasks easier. Initial results indicate that dealers are now posting their listings up to 36% faster. Moreover, the response rate of the dealers has increased by 12% since the first launch.
“Property search has always been about filters and endless scrolling,” said Tim Davis, Chief Product, Marketing, Data & Technology Officer, OLX. “CompassGPT flips that model to make it intuitive and personal, tailoring property search to the individual buyer’s wants and needs.”
“Managing inventory, fielding calls, and tracking leads used to mean dealers were constantly multitasking,” added Davis.“AutoIQ removes the friction from daily operations, so dealers can focus on what matters most, connecting with customers and doing what they do best: closing deals.”
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News Source: Businesswire.com
