Over the years, I have had the opportunity to moderate many panel discussions and conduct industry interviews on the radio. While I have enjoyed and learned something from each one, today’s Sourcing Industry Group (SIG) session, sponsored by Scoutbee, was one of the most memorable for several reasons.
Besides the timeliness of the topic – Artificial Intelligence (AI), the panel of MIT’s Director of Digital Supply Chain Transformation, Maria Saenz, Spend Matters’ Jason Busch, and The Hackett Group’s Chris Sawchuk are not only recognized names but highly regarded and trusted sources of information and insight. It would be an understatement to say that they did not disappoint.
Even though AI is a headline topic about which everyone is talking, few, if any, discussions would deliver the unique and surprising insights and guidance shared in this 60-minute session. The 500-plus people who signed up and those who attended were enthusiastic participants in a dialogue that delivered many significant A-HA moments.
In this post, I will share two examples of these moments.
Who Is Leading The Charge?
One of the revelations that caught me by complete surprise – at least at the time was the response to the third poll asking the following question: Who is driving your transformation towards utilizing AI in procurement?
The four choices were CPO, Procurement Excellence Center, Director of Procurement, and Other.
Here are the results:
- CPO 8%
- Procurement Excellence Center 23%
- Director of Procurement 35%
- Other 34%
The initial surprise was that only 8% of CPOs lead the charge towards AI adoption. Even if you include the 35% of Procurement Directors, that is still only 43%, meaning that less than half of all procurement AI initiatives are facilitated and led by a procurement executive.
Given the importance of leadership to digital transformation success, who exactly are procurement professionals following in their AI journey, and what are their priorities regarding AI?
Leadership And Progress?
Success does not happen in a vacuum or isolation – especially with AI transformation. And it certainly doesn’t happen without good leadership.
While the following poll results in which attendees answer the question: “Where are you on your AI journey?” may not solely result from a lack of leadership, it is one of the more significant factors.
Of those responding to the poll, 18% indicate they are in the planning stage, and 29% say they are just getting started—however, 52% report they don’t know where and how their companies plan to deploy AI.
Remember, most of those attending today’s panel discussion are in procurement in various capacities, of which 52% have yet to learn what is going on AI-wise in their organizations.
This lack of information regarding AI direction is a somewhat disquieting thought, given the universal recognition of the importance of supply chains and procurement.
Scratching The Surface
The above examples are only scratching the surface of the discovery and dialogue that will remove the mystery of AI. In the 60 minutes, the panel will break AI down into highly consumable insights that can put you and your organization on the right track, including introducing case examples.
I am looking forward to watching the on-demand version of the webinar – and I was there. I know you will also share the same enthusiasm for this panel’s expertise.
Stay tuned for the on-demand link.
Procurement Insights
What happens when you bring together some of the industry’s most notable thought leaders to talk about Artificial Intelligence?
Posted on September 25, 2023
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Over the years, I have had the opportunity to moderate many panel discussions and conduct industry interviews on the radio. While I have enjoyed and learned something from each one, today’s Sourcing Industry Group (SIG) session, sponsored by Scoutbee, was one of the most memorable for several reasons.
Besides the timeliness of the topic – Artificial Intelligence (AI), the panel of MIT’s Director of Digital Supply Chain Transformation, Maria Saenz, Spend Matters’ Jason Busch, and The Hackett Group’s Chris Sawchuk are not only recognized names but highly regarded and trusted sources of information and insight. It would be an understatement to say that they did not disappoint.
Even though AI is a headline topic about which everyone is talking, few, if any, discussions would deliver the unique and surprising insights and guidance shared in this 60-minute session. The 500-plus people who signed up and those who attended were enthusiastic participants in a dialogue that delivered many significant A-HA moments.
In this post, I will share two examples of these moments.
Who Is Leading The Charge?
One of the revelations that caught me by complete surprise – at least at the time was the response to the third poll asking the following question: Who is driving your transformation towards utilizing AI in procurement?
The four choices were CPO, Procurement Excellence Center, Director of Procurement, and Other.
Here are the results:
The initial surprise was that only 8% of CPOs lead the charge towards AI adoption. Even if you include the 35% of Procurement Directors, that is still only 43%, meaning that less than half of all procurement AI initiatives are facilitated and led by a procurement executive.
Given the importance of leadership to digital transformation success, who exactly are procurement professionals following in their AI journey, and what are their priorities regarding AI?
Leadership And Progress?
Success does not happen in a vacuum or isolation – especially with AI transformation. And it certainly doesn’t happen without good leadership.
While the following poll results in which attendees answer the question: “Where are you on your AI journey?” may not solely result from a lack of leadership, it is one of the more significant factors.
Of those responding to the poll, 18% indicate they are in the planning stage, and 29% say they are just getting started—however, 52% report they don’t know where and how their companies plan to deploy AI.
Remember, most of those attending today’s panel discussion are in procurement in various capacities, of which 52% have yet to learn what is going on AI-wise in their organizations.
This lack of information regarding AI direction is a somewhat disquieting thought, given the universal recognition of the importance of supply chains and procurement.
Scratching The Surface
The above examples are only scratching the surface of the discovery and dialogue that will remove the mystery of AI. In the 60 minutes, the panel will break AI down into highly consumable insights that can put you and your organization on the right track, including introducing case examples.
I am looking forward to watching the on-demand version of the webinar – and I was there. I know you will also share the same enthusiasm for this panel’s expertise.
Stay tuned for the on-demand link.
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