The Procuretechs Network includes Startups with a focus on procurement, which are located in Germany and throughout Europe. Together, we want to shape the future of procurement by leveraging our synergies and supporting each other in the further development.
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Commodities AI Ltd 'ChAI'
CEO: Tristan Fletcher
Location: London/UK
Founding year: 2019
Website: chaipredict.com
LinkedIn: https://www.linkedin.com/company/chai-uk
Start-up Phase: Launched
Area of business in procurement:
- Negotiation
- Risk Management
- Contract Management
Problem:
Commodity Prices are impacted by many elements which cause them to be very volatile which can significantly impact a company’s margins when they are buying at a variable price and selling at a fixed price.
Solution:
ChAI uses Artificial Intelligence on all the data that matters, forecasting the price up to 12 months in the future with full explainability of the key drivers. Providing manufacturing companies foresight enabling them to reduce operating costs and manage commodities price risk.
Offer:
Daily market insight driven by artificial intelligence
USP:
Daily forecasts up to 12months into the future.
Full explainability of what is driving future prices
Target customers:
Procurement & Risk Managers with high commodity exposure in FMCG, Automotive and Pharmaceutical
Technology:
We are using a variety of machine learning models at different points in our prediction processes, for example, Gaussian Processes, Support Vector Machines, LASSO and Multi-Task Learning.
Contact: Marcus Dixon
COO
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