UPDATED 08:00 EDT / DECEMBER 05 2023


Logik.io applies AI to complex configure, price and quote processes

Logik.io Inc., a company that focuses on streamlining complex product sales with rules-base automation, today is announcing the launch of an artificial intelligence-based product for the configure, price and quote or CPQ processes used in complex sales to configure products or services, price them according to various factors, and generate quotes for customers.

Cosmo AI uses an intelligent rule-writing assistant called FunctionAssist that simplifies configuration by using generative AI to create advanced rules. The company said administrators can simply write the rule they want to create in English, and FunctionAssist quickly returns an optimized set of rules.

The product can also be used to simplify self-service configuration for products such as cars and complex machinery that come with many options.

“CPQ rules can be complex and multi-dimensional,” said co-founder and Chief Executive Chris Shutts. “We set up a conversational approach where you can tell it to write a rule that limits the voltage to below 110 volts for climates outside North America or customize accessories in a vehicle that affect the range. Our rules engine automatically recalculates the range based on weight, model, chassis, electrical consumption and other factors.”

CPQ is a computationally intensive process that grows more complex as the number of factors multiply. “We work with a couple of Fortune 100 companies that might have a team of 15 people maintaining their rules engine,” Shutts said. “If rules are automatically created, there is a substantial labor cost reduction. On the buyer side, if you can speed up the time of making decisions, you can increase average order value.” A recent project for a technology company involved coding about 1,000 rules over the course of 12 weeks, he said.

Based on a version of Google LLC’s Bard conversational AI tool, Cosmo AI was extensively fine-tuned and is customized for every customer. “Each customer has its own learning protocol,” Shutts said.

Cosmo AI features smart predictions and automated suggestions that save time by suggesting options based on previous selections. The software also suggests ways to optimize rules and provides real-time, in-context answers and training.

Generated rules can be deployed into a function editor for debugging. There is also an option to view the rule in a visual flowchart display.

The Deerfield, Illinois-based company has raised $26 million, including a $16 million Series A funding round in May. It said revenue has tripled over the past year on a doubling of active customers.

Image: Logik.io

A message from John Furrier, co-founder of SiliconANGLE:

Your vote of support is important to us and it helps us keep the content FREE.

One click below supports our mission to provide free, deep, and relevant content.  

Join our community on YouTube

Join the community that includes more than 15,000 #CubeAlumni experts, including Amazon.com CEO Andy Jassy, Dell Technologies founder and CEO Michael Dell, Intel CEO Pat Gelsinger, and many more luminaries and experts.

“TheCUBE is an important partner to the industry. You guys really are a part of our events and we really appreciate you coming and I know people appreciate the content you create as well” – Andy Jassy