AI Insights

Artificial Intelligence is taking the world by storm. Let Vendavo’s AI Insights hub be your lighthouse. These resources illuminate the way forward with expert insights, thought leadership, and use cases on the transformative power of AI in business. From illustrating the art of what’s possible, to breaking down ethics and regulatory compliance concerns, we’ll help you navigate the treacherous waters of AI with clarity and confidence. 

Vendavo’s Approach to AI

We believe in a future where responsible innovation is at the intersection of AI and human collaboration. At Vendavo, we are committed to the security and privacy of data, as well as the safe and ethical uses of AI in all that we do. Our philosophy centers on a hybrid approach, where humans and machines work together to achieve the best possible outcomes. By empowering our customers to use AI as a copilot to sell and price their products, and better serve their customers, we enable them to make data-driven decisions that support their own, human expertise. We believe that this approach, with responsible innovation as its guiding principle, will lead to a brighter, more successful future for all.

AI hub Sailing

How Our Experts See It

Our Commitment to Responsible Innovation

At Vendavo, we have established an AI steering group comprised of data scientists, product managers, software engineers, lawyers, marketers, sellers, and business consultants. The mission of this group is to continuously explore and promote innovative uses of the latest AI technologies, including but not limited to ChatGPT and other generative AI. We firmly believe in responsible innovation and are committed to leveraging AI in a way that prioritizes safety, security, privacy, and ethical use. Our CTO, David Edwards, has emphasized the importance of taking a leading position in this emerging field, which is why we have invested heavily in our AI steering group. We are excited to explore how these emerging technologies can fundamentally change our products and business, all while ensuring that we remain at the forefront of responsible AI innovation.

Artificial Intelligence
What is AI?

Artificial intelligence (AI) refers to the ability of machines to perform tasks that typically require human-like intelligence, including visual perception, speech recognition, decision-making, and natural language processing. AI systems use algorithms and mathematical models to analyze data, learn from patterns, and make predictions or decisions.  

Rule-based systems, machine learning, and deep learning are different types of AI. Rule-based systems follow predefined rules to make decisions, while machine learning algorithms learn from data to improve their performance over time. Deep learning, a subset of machine learning, uses neural networks that mimic the structure and function of the human brain. Click here for more information on how AI works, its benefits, and its challenges. 

What is an AI-powered price solution?

An AI price solution using machine learning automatically learns from accessing and analyzing data sources – like historical transactional data – and quickly optimizes pricing recommendations without needing to be reprogrammed. 

What is Vendavo’s approach to AI?

What we have found to be the most effective approach is to leverage data science techniques and models that are understandable by business stakeholders, and that are combined with human intelligenceSome refer to this approach as a “centaur”, “cyborg” or “copilot” approach. This combination of machine intelligence and human intelligence has proven to be the most effective way to leverage advanced data science in many cases, especially in B2B enterprises. 

What do Vendavo AI solutions deliver?

Vendavo solutions incorporate fully embedded AI for leading-edge performance. For instance: Vendavo’s Deal Price Optimizer lets you calculate optimized pricing guidance thanks to a patented Power & Risk™ algorithm that uses your historical transactional dataThe resultYou quickly present customers with optimized prices that maximize margin and minimize the risk of losing them during negotiationsOur Deal Price Guidance solution delivers deal-specific pricing guidance directly to your CRM and quotation workflow, while continuously optimizing deal win rates, enterprise profitability targets, and the overall customer experience. Learn more about Vendavo products here. 

Is Vendavo a machine learning platform or Cloud AI Developer Service?

No, Vendavo is not a machine learning platform or CAIDS where users build their own models and applications. Vendavo builds and operates purpose-built SaaS solutions for manufacturing and distribution industries, that enable advanced analytical insights, price management & optimization, digital commerce & sales processes, and rebate & channel incentive management. While our SaaS products have data science embedded within them, users are still able to supervise, fine-tune, and control these models by changing the algorithmic parameters (available in the GUI). 

How does Vendavo work with customers to drive AI innovation

We frequently work with our customers to collaborate on enhancements, new capabilities, and even new products through our Vendavo Solutions User Group (VSUG) and our Vendavo Lighthouse Customer Program.  Most of our enhancements and innovations over the years have been driven by our customers.