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AI & Procurement

Procurement Templates

The Future of Procurement: Navigating the AI Revolution Metaverse? Perhaps now might be a good time to start getting cozier with your AI knowledge. The advent of Artificial Intelligence (AI) has undeniably altered the employment landscape, sparking debates about its potential to replace conventional jobs.

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Procurement, AI, and Two Critical Questions

Procurement Insights

I just sat in on the Spend Matter webinar Navigating the Future: Meet AI in Procurement. Right off the bat, it was a very well-run 60-minute webinar that provided succinct insights on various elements of AI and its impact on Procurement. Old AI Versus New AI? Hi, everyone.

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AI and the practice of Procurement – Contracting and Legal

Spend Matters

We recently spoke with Stuart Brock , founder and President of startup iKinetiq Innovation Solutions which helps procurement functions design the right strategy to optimize processes, gain deeper insights, and enable data-driven risk management with a focus on using AI technologies responsibly.

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AI in Procurement and ‘Autogmentation’ Part 4 — Procurement use cases of AI and Generative AI

Spend Matters

The post AI in Procurement and ‘Autogmentation’ Part 4 — Procurement use cases of AI and Generative AI appeared first on Spend Matters. In This content is for members only. Visit the site and log in/register to read.

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Next-Gen Procurement: Transforming Processes with the Power of Generative AI

Generative AI goes beyond just automating tasks and providing real-time answers. Did you know that implementing generative AI reduces sourcing cycle times and allows for faster decision-making across procurement operations?

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The AI Advantage: Unlocking New Value for Procurement Teams

World of Procurement blog

The Promise of AI for Procurement Teams Artificial intelligence (AI) has the potential to transform and revolutionize procurement processes. This frees up procurement professionals to focus on high-value strategic activities. AI can also assist with monitoring obligations, amendments, renewals, and expirations.

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The Benefits of Using AI for Spend Analysis in Procurement

ProcurePort

In today’s rapidly evolving business landscape, procurement professionals are constantly seeking ways to enhance efficiency, reduce costs, and make data-driven decisions. This article discusses the advantages of using AI for spend analysis in procurement.

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Adopting AI Responsibly: Guidelines for Procurement of AI Solutions by the Private Sector

As artificial Intelligence (AI) becomes more prevalent, it’s crucial that firms adopt AI technology responsibly. This World Economic Forum-GEP report offers a holistic procurement process and structured framework to select responsible AI tools. Download the report today.

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GEP Procurement & Supply Chain Tech Trends Report

And for procurement and supply chain leaders looking to harness the power of technology to navigate complex challenges and an uncertain business environment, keeping up with the latest trends can be its own obstacle. So, what’s on the technological horizon for procurement and supply chain for the year ahead?

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Five Best Practices for Balancing Costs, Risks, and Sustainability

In the face of volatile macroeconomic conditions and other complex challenges, supply chain and procurement pros must strike a tough balance between seemingly contradictory demands: boosting performance and sustaining and extending business operations, all while meeting customers’ needs.

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Rethinking Direct Materials Sourcing: The Tools You Need To Manage Costs, Risks and Sustainability

Direct materials sourcing is evolving, with procurement now tasked not only with cost efficiency but managing sustainability and risk management. While some embrace cutting-edge tools like AI and blockchain for global trade functions, others lag in technology adoption.

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GEP Spend Category Outlook 2024

There are strategic opportunities to leverage AI-powered technology and digital toolsets to overcome these hurdles more effectively. This must-read annual report informs procurement and supply chain leaders of the types of risks to expect and their levels of impact.