The idea is the car could drive itself down the street, find a parking spot and tuck itself in there -- and then return to you at the touch of a button. Not quite KITT-style but it could at least put some valets out of work. However, due to current legalities that's not entirely possible, as someone must be sitting behind the wheel. But, in a private parking lot it could at least navigate the aisles without you onboard.
While all this is going on you can watch the status of the car remotely on a smartphone, as the car has an integrated LTE connection. You can see where the car is, where it's going and even get a notification whenever it has detected that someone is tampering with it. You can then bring up a full 360-degree view of what's going on around the car and, if you see something shady, set off a car alarm remotely. This was demonstrated on a Galaxy S III.