The event highlighted the importance of procurement adapting to the complexities of the global supply landscape by integrating AI and data-driven practices. Panelists emphasized that AI enhances service delivery, improves efficiency, and accelerates decision-making within procurement departments. Solutions discussed include automating workflows, learning clients' specific needs, and using generative AI for guidance on resolutive actions. The consensus among leaders is that AI is not just a trend but a necessary advancement for procurement's future.
AI is here to stay. In the past year, there's been a rapid surge of AI solutions and also an interest from stakeholders to understand how procurement can use AI to differentiate how we service the business, how we give them faster solutions, how we provide analytics forward.
AI can auto adapt to, or learn, each client's data and assign tasks within a workflow based on capacity or priority and internal resources. Workflows can automatically adapt based on user metrics and potential inefficiencies.
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