Rohit Aggarwal is Chief Working Officer at DecisionNext, a number one AI platform that allows firms to optimize the shopping for or promoting of commodities at the very best time and value. He leverages a powerful background in provide chain and product administration in addition to expertise immediately main very giant groups to execute complicated multi-disciplinary tasks and ship enterprise outcomes. Rohit beforehand held product and operations administration roles at each Google and Amazon.
You’ve labored at Amazon and extra not too long ago at Google. What have been a few of your key highlights from these experiences?
At Amazon, I had the chance to handle a various crew of 250 cross-functional workers with the intention to launch best-in-class operations amenities. I additionally supported the implementation of improvements reminiscent of same-day supply, robotics, and different rising applied sciences. Then at Google, I used my abilities to bridge the hole between product and operations. This concerned constructing functions from scratch to handle a brand new type of success course of, amongst different new choices.
Are you able to clarify how DecisionNext leverages AI and machine studying to enhance commodity value and provide forecasting?
DecisionNext makes use of synthetic intelligence and machine studying to eat 1000’s of information units and discover historic and present relationships between key components. It then learns from this data and builds related fashions for any commodity. In agriculture and pure useful resource markets, our instruments assist prospects forecast costs higher, make smarter selections, cut back threat, and enhance earnings throughout international provide chains. We’re additionally engaged on utilizing Giant Language Fashions (LLMs) to simplify complicated international selections with risk-aware options.
What are the important thing advantages of utilizing DecisionNext’s AI platform in comparison with conventional forecasting strategies?
World commodity product patrons and sellers usually resort to guidelines of thumb and spreadsheets to simplify a posh system price billions of {dollars} in transactions. This leaves important cash on the desk. These spreadsheets have labored wonders and supported lots of of companies. Nevertheless, as workforce dynamics change and international markets grow to be extra unpredictable, they’re changing into much less efficient. DecisionNext has spent years perfecting an AI platform that turns international complexities into actionable suggestions at scale—drastically bettering monetary efficiency.
Our prospects have subject material specialists which were in a specific house or business for 30 years or extra. And as new generations are available, it’s extraordinarily essential to retain all of that have in a usable manner. DecisionNext helps with that by constructing complete libraries of selections, integrating professional opinions, and studying from the previous.
In doing so, the DecisionNext platform reduces threat and uncertainty in enterprise selections throughout enterprise items and people whereas establishing a scalable strategy to make these selections. It additionally improves profitability in day-to-day transactions, long-term positions, and future-looking strategic planning.
What function does dynamic information play in DecisionNext’s AI-driven decision-making course of, and the way is that this information built-in and utilized?
Dynamic and up-to-date information is extraordinarily essential in the case of constructing best-in-class fashions. That stated, the velocity and complexity with which the information will be processed and modeled shouldn’t be the one issue. For instance, how does a mannequin know the load of the newest information level (say a shock within the system) and that it must deal with it otherwise? Our customers can work together with the fashions by means of patented expertise to enter their opinions and construct what-if evaluation to make use of information that the mannequin or system merely can’t know but. This enables our prospects to achieve new insights that might in any other case not be potential. They’re additionally capable of higher perceive the influence of worldwide shifts in provide or new buying and selling rules, amongst an infinite variety of different potential conditions.
In what methods has DecisionNext’s AI platform revolutionized enterprise selections within the commodities market?
Our greatest-in-class platform has revolutionized the usual method to pricing, provide and demand forecasting by offering our customers with greater than only a forecast. With our device, they will rapidly perceive threat, uncertainty and may analyze complicated selections with just a few clicks of a mouse. DecisionNext has a lot of use instances throughout provide chains in each agriculture and mining. These embrace procurement and gross sales value optimization, enterprise planning, geographic and product arbitrage, least price formulation and threat administration, amongst many others.
How does DecisionNext make sure the accuracy and reliability of its AI-forecast fashions for commodities buying and selling?
We make sure the accuracy and reliability of our AI-forecast fashions by means of intensive backtesting. DecisionNext has constructed a rigorous system that is ready to quickly take a look at 1000’s of mannequin buildings and supply the person with a full understanding of how correct fashions have been. This may be executed in an easy-to-understand manner that additionally permits us to make use of that accuracy to foretell uncertainty sooner or later as effectively.
Might you share an instance or case research of how DecisionNext has helped an organization navigate market volatility utilizing your AI instruments?
With DecisionNext, a big iron ore producer elevated its earnings by a mean 6-8% on spot gross sales. Our answer helped them optimize pricing technique and cut back the time required to make key selections round geographic arbitrage. Equally, we’re capable of assist cattle producers make the identical resolution on the place and when to promote the meat coming from their carcasses.
In each instances, DecisionNext supplied an correct and defensible short- and long-term forecast to optimize gross sales planning technique. Our visualization instruments enabled the producers to quickly assess a number of gross sales methods facet by facet to greatest mitigate threat, streamline decision-making, and extra successfully enhance margins.
With out DecisionNext, firms are compelled to depend on historic averages, futures markets (if accessible), and expertise to cost items. Though efficient previously, with our more and more risky commodities markets, firms are leaving tens of millions of {dollars} on the desk.
Are you able to focus on the importance of getting interactive forecasting fashions for customers, and the way does DecisionNext guarantee these fashions are user-friendly?
The previous, outdated “black box” mannequin of forecasting doesn’t inform individuals why the forecast is what it’s. It can also’t assist with the right way to translate the forecast into actionable selections. So on this situation, customers might not use even an ideal forecast and return to previous strategies.
DecisionNext helps its prospects achieve a greater understanding of each market threat and enterprise threat and why the 2 needs to be interconnected in the case of forecasting. DecisionNext supplies full visibility into information sources and mannequin buildings together with strategic readability and course.
All of that is delivered by means of a user-friendly dashboard, designed for ongoing engagement.
In what methods has the pandemic and up to date geopolitical occasions influenced the event and use of AI in commodities buying and selling at DecisionNext?
COVID-19 upended the worldwide meat worth chain, and one buyer that was significantly impacted by the disaster involves thoughts. With giant portions of frozen meals destined for soon-to-be-dormant foodservice channels, the shopper utilized DecisionNext analytics to quickly and optimally liquidate stock as lockdowns unfold throughout the US and in addition plan how and when to rebuild stated inventories.
Utilizing the DecisionNext platform, the shopper constructed out and in contrast 4 complicated gross sales and procurement options to see the anticipated market outcomes and evaluate dangers. They have been capable of efficiently liquidate extra stock throughout a number of cuts, and these transactions supplied a 5X return in opposition to the DecisionNext software program funding in a single month.
What future developments in AI and machine studying do you foresee impacting the commodities market, and the way is DecisionNext getting ready for them?
DecisionNext is on the forefront of the hassle to leverage AI and machine studying to make commodities markets extra environment friendly, worthwhile, and sustainable. Because the world continues to grapple with large challenges like local weather change and political instability, clever expertise will likely be an more and more essential part in how we efficiently navigate them. We’re honored to be trusted by our prospects and companions to supply a platform to assist make that occur.
Thanks for the good interview, readers who want to study extra ought to go to DecisionNext.
