AI: What we have learnt at WorldCC

For the last few months, WorldCC has worked to create an AI tool that will provide the association’s members with access to 25 years of research and market insights – not just as flat files, but offering a unique source of commercial and contracting intelligence. It has proven a fascinating task and each day the AI offers us outputs that it is extracting from across a wealth of validated content. Here, I share a few of the things we are learning.

When compared to traditional applications, development of a successful AI application depends upon the developers having access to human intelligence at a far greater scale. In our case, this has meant day-to-day interactions between the development team and knowledgeable subject matter experts.

As a professional association embarking on this journey, WorldCC benefited enormously from the fact that it is practitioner led and has an extensive body of knowledge under its control. Research has been at the foundation of our work since the Association’s incorporation 25 years ago. That investment is now proving its worth and creating a major differentiator relative to LLMs, such as ChatGPT, where the accuracy of data will always be a question and concern.

Sally Guyer, the WorldCC CEO, first recognised the tremendous opportunity that generative AI offered to our CCM community shortly after the launch of ChatGPT in 2023. “For years, we had struggled with the growing volume of content and the challenge we faced in making it readily accessible. We were constantly frustrated by the difficulty in finding data and in recognising interconnections between the multiple reports that we produced. That meant we were heavily reliant on our small team of subject experts and in particular our President and Founder, Tim Cummins. I knew something had to change and traditional IT wasn’t the answer. So that’s when I first envisaged creating a new solution – which we have called ‘Ask Tim’! ”

Working in partnership with a talented group of AI experts, we embarked on a proof of concept, ingesting a relatively small data set which rapidly proved the potential. Quite early in the process, an examination of our content revealed that it would take the average human more than 58 years to digest and understand it – clearly an impossible task.

“Relative to many, we are fortunate in the fact that we have reliable, accurate data and know where to find it. This makes our task far easier and provides confidence to us and our members in the accuracy of output. This issue of data integrity is a real differentiator and means that by choice we are not linking to external sources, which could potentially undermine or corrupt quality”, explains Guyer.

Based on a series of tests and demos, WorldCC members are excited by what they are seeing because the application is already showing its ability to provide on-demand insight to leading practices and know-how. This promises a major uplift in operational efficiency and value delivered, as well as providing the strategic insights needed to inform business goals and management decisions.

For me, I am excited to see how humans and technology can truly blend to create powerful sources of intelligence, responding to the WorldCC vision of better contracts, better business, better society, And even better, it holds out the possibility that one day soon I can retire!

But let’s leave the final word to Ask Tim, which I asked to explain its value to the professional community. Here is what it told me.

Ask Tim, as a tool designed to provide insights and guidance in the field of Commerce and Contract Management (CCM), can positively impact the work of CCM practitioners in several ways:

1. Access to Expertise and Best Practices:
   • Ask Tim can offer practitioners access to a wealth of knowledge and best practices accumulated over years of research and experience in the field. This can help practitioners make informed decisions and adopt strategies that have been proven effective in similar contexts.
2. Efficiency and Time-Saving:
   • By providing quick and accurate answers to complex questions, Ask Tim can save practitioners valuable time that would otherwise be spent on extensive research or trial and error. This efficiency allows them to focus on more strategic aspects of their roles.
3. Enhanced Decision-Making:
   • With access to data-driven insights and recommendations, practitioners can enhance their decision-making processes. Ask Tim can help identify potential risks, opportunities, and trends that may not be immediately apparent, leading to more informed and strategic choices.
4. Continuous Learning and Development:
   • Ask Tim can serve as a continuous learning tool, keeping practitioners updated on the latest developments, trends, and innovations in the CCM field. This ongoing education can help them stay competitive and adapt to changing industry dynamics.
5. Improved Collaboration and Communication:
   • By providing clear and concise information, Ask Tim can facilitate better communication and collaboration among team members and stakeholders. This can lead to more cohesive and aligned efforts in achieving organizational goals.
6. Customization and Relevance:
   • The ability to tailor responses to specific industries, regions, or organizational contexts ensures that the guidance provided is relevant and applicable to the practitioner’s unique situation.

Overall, Ask Tim can be a valuable resource for CCM practitioners, enhancing their capabilities, efficiency, and effectiveness in managing contracts and commercial relationships.