Peak boosts business confidence in AI with launch of performance guarantee
By Peak on April 16, 2024Peak’s performance guarantee demonstrates to businesses that adopting technology to optimize their inventories doesn’t need to be high-risk.
Inventory distortion was projected to cost retailers $1.77 trillion in 2023. To combat this, businesses are turning to AI to optimize their inventories to avoid missed sales and reduce capital tied up in excess stock. Today, to demonstrate the reliability of its AI applications and certify that AI adoption doesn’t need to be a high-risk venture, Peak has launched a performance guarantee for inventory availability.
Peak enables businesses to forecast, order, and balance optimal stock levels across a network. With the performance guarantee, Peak will reimburse the cost of the customer’s AI application if the overall availability for products across their network falls below an agreed rate over the course of the guarantee period.
The performance guarantee is particularly important for organizations looking to reap the benefits of AI without the perceived risk that new technology brings. With the critical need to reinvent and evolve, businesses continue to embark on wide-scale transformation programmes but these programmes often suffer scope creep, prolonged timelines and overspend. In a time where interest rates and the cost of capital are high, businesses need to be certain that their technology investments won’t end up as ‘digital dust’.
On average, Peak’s inventory customers see a stock holding reduction of 20% whilst increasing availability for their customers. With almost a decade’s experience developing and deploying AI, this performance guarantee demonstrates the maturity of Peak’s product and provides our customers with the assurance that optimizing their inventory with AI doesn't have to come at a higher risk. In a time of unpredictability, Peak offers welcome stability for businesses looking to transform their operations with AI.
Richard Potter
CEO and co-founder, Peak
Peak’s AI guarantee has been developed with a reinsurance partner and has been rigorously tested by a team of external AI reinsurance specialists.
Game-changing AI. Guaranteed.
Visit our webpage to learn more about our AI performance guarantee for inventory.
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