July Retrospective

Intelligent Procurement, AI Companions & Our 7th Birthday

Jul 30, 2023

THIS MONTH

🤔 "A bot on the side" - the rise of AI companions.
🔍 Procure AI - in-depth and easy-access procurement intelligence.
📚 This $300 billion Dutch firm is the most important company you’ve never heard of.
🎙️ We chat all things AI & Automation with Ted Shelton, Expert Partner at Bain & Co.

🤔 SWIFTSCALE SOAPBOX

If I were to say “imaginary friends”, the first thing you’d probably think of is kids playing games and indulging in the land of make-believe - not a nascent multi-billion-dollar industry.

Thanks to recent advances in AI systems (see GPT-4), your computer is now able to generate text chats and voice conversations in an eerily lifelike fashion - contextually aware, grammatically perfect and totally devoid of emotion (insert lawyer joke here).

The recent proliferation of large language models has generated a slew of conversational use cases as varied as they are ~~terrifying~~ awesome.

Keep reading

🔍 SCALEUP IN FOCUS

Client snapshot: DMG Mori | EnBW | Kärcher | Parasus

Summary: Procure Ai has built the AI platform for Procurement. By leveraging the latest machine learning technology and proprietary data architecture, Procure Ai enables intelligent & augmented procurement, accelerating productivity, improving agility and optimising spend.

Unlock hidden savings - their algorithms (predictive pricing & continuous contract scanner) work in the background, helping clients get the best price on every purchase order.

Reduce process costs - analytical models enhance operational procurement, automating commercial agreements, demand structuring, CO2 data and much more.

Increase transparency - in-depth & easy-access procurement intelligence. Explore real-time data analytics on supplier reliability, pricing and risks. Profit from smart call-to-actions to quickly act on saving potentials and supply risks.

With Procure AI, one client EnBW (the second largest energy provider in Germany), is able to achieve average negotiated discounts of ~3.9% per event. This results in overall savings of ~€2m per year.

Customer testimonial: “Procure Ai was the decisive building block for us in the group to bring speed into the digitalisation and automation of our purchasing." - Head of Digital Procurement, EnBW

📚 WHAT WE’RE READING

This $300 billion Dutch firm is the most important company you’ve never heard of ... The Generalist
Mykhailo Fedorov Is running Ukraine’s war like a startup ... Wired
A spectacular superconductor claim is making news. Here's why experts are doubtful ... Science
None of the world’s top industries would be profitable if they paid for the natural capital they use ... Grist

🎙️ PODCAST

Our podcast 'Chasing Elephants' has landed ... Listen now on Spotify, Apple Podcasts and Amazon Music!

In our first episode, we meet with Ted Shelton, Expert Partner (AI & Automation) at Bain & Co. We discuss advances in AI, the industries and professions most likely to be affected, the opportunities ahead and the scaleups he's keeping an eye on.

Chasing Elephants is an analogy for young businesses trying to sell into large enterprise clients. Catch an elephant and feed for a while, but the chase is fraught with risk ... and it might just kill you.

🎉 EVENTS

Next up:
Future Leaders of HR: AI and Automation - 24th August, 3-4.30pm BST ... Register interest

This session will showcase technology transforming HR practices, making them more efficient, data-driven, and strategic. Discover solutions streamlining recruitment & talent acquisition, simplifying onboarding and enhancing employee analytics.

Upcoming:
Future Leaders of InfoSec: AI & Automation - September 7th, 3-4.30pm BST ... Register interest

Future Leaders is a series of private sessions introducing senior leaders to rising stars in the startup ecosystem and associated cutting-edge technology.

💡WHAT’S NEW AT SWIFTSCALE?

We turned 7 years old! Count us surprised we made it this far ...
Our CEO participated in the Capital Markets Industry Taskforce session at LSEG, discussing solutions to strengthen the UK capital markets.
We recorded a podcast with Russell Sheldon, the COO & CTO at TMF Group.
Our client the UK Ministry of Defence has renewed for a 2nd year.