Short answer: Tristan Wilson says Edgevanta gathers historical pricing from Department of Transportation websites for agents to query. His family's company cut money left on the table from 11% to about 7%, putting almost $8,000,000 back.
Watch this answer from Episode 16 (starts at 12:08) · Episode 16 notes and transcript
From Episode 16: AI Agents Reinvent Construction, starting at 12:08.
Tristan Wilson [12:07]: So how we do that is we go to the Department of Transportation websites. We gather critical data, historical pricing information. We bring that into our platform, and then we have agents that are built on top of that that can help us call and query all past historical bidding information so that we can really understand, like, where's the market at for this job right now? How much work do our competitors have? Then most importantly, like, what do we think is gonna happen in the future on upcoming bids? In the past, you would have to jockey Excel spreadsheets. At my family's company, we actually had somebody who did this full time. All they did was bid tab forecasting. With the help of AI, we don't we can actually that we can have some of our team members now do that, and we don't have to go hire, full time staff, multiple, additional team members. We can basically do it kind of in house with the crew that we have.
Tristan Wilson [12:58]: So and that can really help add to our bottom line. Like, just for instance, at our company, we were leaving 11% on the table on all of our bids. That was tens of millions of dollars for us. We were able to reduce that down to closer to about 7 which meant that we put almost $8,000,000, back in our pocket. So that's worth spending time on. That's worth spending money on and investing time in. So that's another part of what we're really able to help people do is not just the time savings, but also, adding money to the bottom line through having better data.
