ServiceNow, a company that provides artificial intelligence (AI) agents for businesses, is set to acquire Logik.ai.
The deal, announced Thursday (April 3), is designed to accelerate ServiceNow’s momentum in sales and order management with the help of Logik.ai’s configure, price, quote (CPQ) solution. Logik.ai’s best-in-class capabilities for sales and commerce will expand ServiceNow’s growth.
“Companies in every industry struggle with ineffective sales processes due to complex product configurations, pricing inconsistencies, and error-prone manual quoting,” the companies said in a news release.
“Sales teams waste valuable time navigating spreadsheets, outdated pricing models, and disconnected approval workflows, leading to delayed deals, lost revenue opportunities, and frustrated customers,” they added. “This is especially evident in industries such as manufacturing, high tech, and medical device sales, where the complexities of products and services demand extreme precision and agility.”
According to the release, Logik.ai integrates AI into its CPQ solution to speed transaction management through an advanced rules engine “that solves for speed, simplicity, and scale.” The acquisition will combine these capabilities with ServiceNow’s CRM (customer relationship management) and industry workflows, its fastest-growing business.
In related news, PYMNTS wrote earlier this week about the rise of agentic AI, which “has become more than a buzzword in a very short period of time.”
Among the reasons for its progress is its real potential to transform how financial institutions provide services and interact with their customers. Rather than simply performing pattern recognition or automation tasks in isolation, agentic AI can perceive, reason, take action and most importantly, demonstrate self-learning.
“In an industry typically known for incremental change, the accelerating traction of agentic AI may represent one of the most disruptive and impactful developments in financial services,” that report said.
That’s the mindset of Amir Wain — chief executive at i2c — who recently spoke withPYMNTS CEO Karen Webster about some of the critical infrastructure elements necessary for a successful agentic AI strategy.
While many institutions have embraced AI at the margins, Wain said most have only scratched the surface of what agentic AI can accomplish, due in part to the fact that many banks still rely on legacy systems that make data tough to access in real time. He also stressed that agentic AI requires vast amounts of contextual information.
“If I still want to interact the same way that I did, then I’m really not maximizing the capabilities of agentic AI,” he said.
Source: https://www.pymnts.com/
