Pactum AI reposted this
Just arrived home from a busy week in New York discussing how companies use AI for autonomous negotiations. I was asked here what is my personal vision or goal for Pactum in five years. Pactum is rather unique and it can be answered in countless ways. What’s more, many people have different flavors of the vision. The vibrant NYC inspired me to go deeper inside one path that I personally also believe in. And the answer ended up being a bit unique. That it’s not mainly about better agreements, higher revenue, reducing costs or anything like that. Or even about a more efficient world or happier business partners. It was about speed and agility i.e. from decisions to material impact without a delay. As our world becomes more digitalised, companies have been extending their capabilities at the front of that process. Usually, it is meant in one direction. Most executives can get very precise real time data about their business operations around the globe. How many items were sold in Barcelona last month? What was the most profitable country for us in Asia last week? But executing even a simple decision such as let’s expand in Europe or focus on quality instead of price, can take many-many years to roll out in a global enterprise. And there are always market changes, new trends, and black swan events for which speed and agility is rewarded. So, one of my visions for Pactum in five years is that there is a company who has experienced the power of fast business execution via autonomous negotiations such that a high level decision will have a desired substantial impact on the overall business. And of course, I also assume that they would love it and would want more of it :) For me, the world of B2B commerce is sometimes difficult to personally relate to. But it’s the same trend I see evolving in our home life too as AI agents increasingly act on behalf to make purchases. If I decided to buy a new car for my family, I would want the decision to be quickly executed by a software system that already knows a lot about me, what I value, how much is worth spending, what features I desire, etc. I would then want it to give me a few offers for different cars that it was able to automatically choose and describe to me, having already negotiated the final offers. We are still far away as we are not large enough with any of our customers yet but 5 years is an absurdly long time.