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AI and the Future of RTO: Why RTO Leaders Must Embrace AI Now

Artificial intelligence (AI) is no longer a futuristic concept – it’s here, transforming industries and reshaping how businesses operate. For rent-to-own (RTO) dealers, AI presents both a challenge and an opportunity. While some may view AI as complex or reserved for tech giants, forward-thinking business leaders recognize its potential to enhance efficiency, improve customer experiences, and create a competitive edge. The question is no longer if AI will impact the RTO industry but how dealers can leverage it to stay ahead.

Why RTO Dealers Need to Pay Attention to AI

The RTO business thrives on understanding customer needs, effectively managing inventory, and streamlining operations. AI-powered tools can assist in all these areas, providing data-driven insights and automation that enhance decision-making. Imagine AI systems predicting customer preferences, optimizing pricing strategies, or flagging potential payment issues before they arise. These capabilities are not limited to large corporations – AI solutions are increasingly accessible and scalable for businesses of all sizes.

For instance, AI-driven customer relationship management (CRM) systems can analyze previous transactions and recommend the best products or promotions for individual customers. Chatbots can address common customer inquiries online and over the phone, allowing employees to concentrate on higher-value interactions. Additionally, AI can aid in risk detection and mitigation by identifying patterns in rental agreements and payments that may indicate potential issues.

Encouraging Innovation and Open Thinking

As AI continues to evolve, RTO dealers must cultivate a culture of innovation within their businesses. This begins with leaders taking the initiative to explore AI tools and encouraging their teams to think differently. Employees may initially resist AI out of fears of job displacement or complexity, but when positioned correctly, AI serves as a tool that enhances human capabilities rather than replaces them. The real concern isn’t that AI will replace jobs, but that individuals who understand AI will replace those who don’t.

Leaders should foster an environment where employees feel empowered to experiment with AI-powered tools, whether it involves automating inventory tracking, leveraging AI-generated customer insights, or implementing intelligent marketing campaigns. A culture of innovation keeps businesses agile and responsive to change, especially as AI-driven advancements become increasingly prevalent in consumer retail and finance.

Practical Steps for AI Adoption in RTO Businesses

  1. Educate Yourself and Encourage Your Team
    AI is evolving rapidly, but business leaders don’t need to become tech experts to benefit from it. Begin by learning the basics of AI and its applications in retail and finance. Motivate employees to participate in AI-related training or attend industry webinars to enhance AI literacy.
  2. Identify Areas Where AI Can Help
    Identify pain points in your business that AI can address. Is customer service consuming too much staff time? Are pricing decisions based on guesswork instead of data? Is inventory management inefficient? AI tools can assist in all these areas.
  3. Start Small and Scale Up
    Adopting AI doesn’t have to be daunting. Start with small AI implementations, like automating appointment scheduling or utilizing AI-driven sales insights. As you observe results, broaden AI initiatives to include other areas of the business.
  4. Engage with AI Vendors and Industry Experts
    The AI landscape is vast, and not all solutions will be right for every RTO business. Consult with AI vendors who understand the rental and retail space, and network with other business owners exploring AI to learn from their experiences.
  5. Promote AI as an Enhancement, Not a Replacement
    Employees may worry that AI will replace their jobs, but the truth is that AI functions best when paired with human intelligence. Reassure staff that AI is designed to assist them by managing repetitive tasks, enabling them to concentrate on customer service and relationship-building.

The Future of AI in RTO

AI will continue to shape the business landscape, and RTO dealers who adopt it will be best positioned to thrive. As customer expectations evolve and operational efficiency becomes increasingly vital, AI will be instrumental in helping RTO businesses remain competitive.

By taking proactive steps to explore AI, business leaders can ensure their companies not only keep pace with industry changes but also lead the way. The future of RTO belongs to those willing to innovate, and AI is one of the most powerful tools to drive that innovation forward.

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Mike Lewis

Central Properties dba Premier Rental-Purchase

Mike Lewis is a Premier Rental Purchase franchisee with multiple stores and currently serves as Vice President of Operations. With 33 years of experience in the rent-to-own industry, he has spent the past 20 years working closely with franchisee owners and previously spent 12 years in Corporate RTO, gaining a strong foundation in the business.

For the past five years, Mike has been sharing his knowledge by teaching managers and franchisees at the company’s Training Center.

Outside of work, he enjoys time with his family, kids, and grandkids, and appreciates the simple things in life – especially riding his Harley Davidson with the sun on his face. If you know, you know!

Lauren Talicska

Arona Corporation dba Arona Home Essentials

Lauren Talicska is an experienced multi-channel marketing specialist and the Vice President of Marketing & Communications at Arona Home Essentials. She has found her home in the RTO community, supporting stores in branding, growth, and increasing traffic.

You may recognize Lauren as a former RTO vendor, including her time as a partner for Nationwide RentDirect, or her previous participation in the APRO Vendor Advisory Committee. Lauren calls Columbus, Ohio, home and spends her workday crafting and executing marketing promotions from inception to realization, all while supporting the branding and social media needs of all the Arona stores in 12 states (plus Puerto Rico!).

Charles Smitherman

APRO

Charles Smitherman, JD, PhD, CAE, became CEO of APRO in 2023, bringing years of legal and executive experience in the rent-to-own industry. 

Prior to joining the association, Charles served as COO, General Counsel, and Vice President of PTS Financial Services, where he played an active role in the rent-to-own industry by representing his company through PTS’s club program offering with APRO member dealers. Charles is an attorney with two decades of experience across a wide variety of areas, including RTO, consumer financial services, antitrust, corporate law, mergers and acquisitions, litigation, franchise law, and privacy law. Following law school at the University of Georgia, Charles earned a Master of Legal Studies and PhD in Law from the University of Oxford in England.

Charles is credentialed as a Certified Association Executive (CAE) with the American Society of Association Executives, a Certified Franchise Executive (CFE) with the International Franchise Association, and a Certified Information Privacy Professional (CIPP/US) and Certified Information Privacy Manager (CIPM) through the International Association of Privacy Professionals. As APRO’s sixth CEO in its 45-year history, he brings a collaborative, member-focused approach to association leadership, emphasizing transparency, advocacy, and value creation. Outside of work, Charles is an active ultra runner and open water swimmer.

Mike Kays

Ashley Furniture Industries

As VP of Rental Sales for Ashley Furniture Industries, Mike thrives on building relationships with our RTO industry veterans, and helping businesses grow through new product, new marketing, and new supply chain options.

Mike works to leverage a wide breadth of relationships and influence, intimate knowledge of market trends, and unique knowledge of what RTO dealers need from a supplier to be successful.

The saying goes that a high tide raises all boats, and our goal is to leverage the world’s largest furniture manufacturer to drive the continued growth of the RTO industry and all the suppliers.

Mike Tissot

Countryside Rentals Inc., dba Rent-2-Own

Mike grew up in the rent-to-own industry under the guidance of his father, former APRO President and RTO legend Darrell Tissot. For nearly 25 years, Mike’s innovative leadership has helped expand the family business to more than 40 stores across Ohio and Kentucky while also shaping the industry as a whole.

He has served as President of the Ohio Rental Dealers Association, an APRO board member and Treasurer, and President and Treasurer of the TRIB Group. His contributions have earned him the APRO President’s Award of Excellence and the title of APRO Rental Dealer of the Year.

Outside of RTO, Mike enjoys time at the lake house or in Orange Beach, Alabama, with his girlfriend, Angela Strong McCool. A passionate Cincinnati Reds fan, he rarely misses a game, whether watching or listening alongside his parents. He also takes every opportunity to visit Arizona, where his daughter is currently attending Arizona State University.