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A Clear Understanding of Outcome-Based Contracts?

#artificialintelligence

It's easy to hear a buzz word in the industry and make assumptions. However, what happens when those assumptions prove incorrect? And what happens when those assumptions are the bedrock under which a sourcing contract is being shaped, priced and a customer/service provider relationship is developed?


Leveled-Commitment Contracting: A Backtracking Instrument for Multiagent Systems

AI Magazine

In (automated) negotiation systems for self-interested agents, contracts have traditionally been binding. The level of commitment is set by decommitting penalties. To be freed from the contract, an agent simply pays its penalty to the other contract party(ies). We show that despite such strategic decommitting, leveled commitment increases the expected payoffs of all contract parties and can enable deals that are impossible under full commitment.


How AI Is Changing Contracts

#artificialintelligence

Contracting is a common activity, but it is one that few companies do efficiently or effectively. In fact, it has been estimated that inefficient contracting causes firms to lose between 5% to 40% of value on a given deal, depending on circumstances. But recent technological developments like artificial intelligence (AI) are now helping companies overcome many of the challenges to contracting.


How AI Is Changing Contracts

#artificialintelligence

Contracting is a common activity, but it is one that few companies do efficiently or effectively. In fact, it has been estimated that inefficient contracting causes firms to lose between 5% to 40% of value on a given deal, depending on circumstances. But recent technological developments like artificial intelligence (AI) are now helping companies overcome many of the challenges to contracting.


Incoming Airport Manager: Contracting Must Be Transparent

U.S. News

The Atlanta Journal-Constitution reports that John Selden made the comments about the city-run airport amid an ongoing investigation at Atlanta City Hall. A federal probe has reached into airport contracting, including a 2016 subpoena seeking documents related to construction and concessions contracts at Atlanta's airport.