Brad Jacobs, the Connecticut investor who built the powerhouse logistics companies XPO, GXO, and RXO, has hired a “chief artificial intelligence officer” for his latest startup, QXO Inc., which provides building products distribution services.
Ashwin Rao will serve as the company’s principal AI architect, after a career in which he served from 2016 to 2022 as the head of AI for Target Corp., where he led a team that developed mathematical models for pricing, merchandising, customer experience, supply chain logistics, and other functions. Previous to that role, he worked in the finance sector on Wall Street, and is currently an adjunct professor of applied mathematics at Stanford University.
“The opportunities to use AI to transform the building products distribution industry are endless,” Rao said in a release. “I’m excited to get started on dozens of AI workstreams that, combined with advantages of scale, will help QXO increase efficiency, optimize supply chains and add value for our customers.”
He joins QXO as the company is preparing to target tens of billions of dollars of annual revenue over the next decade through accretive acquisitions and organic growth, the company says. According to Jacobs, who is the company’s chairman and CEO, AI will play an important role in that approach. “Artificial intelligence will permeate everything we do at QXO, including demand forecasting, inventory management, and e-commerce,” Jacobs said. “Ashwin is recognized as one of the brightest minds in enterprise AI. He will be instrumental in making QXO the most tech-forward company in the industry.”
