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Automation and AI is currently reshaping the procurement industry as it streamlines repetitive tasks , reduces human error and increases operational efficiency .

These technologies enable datadriven decision-making , enhance supplier selection and optimise spend management .

AI is being used to level up analytics and to provide deeper insights into market trends and supplier performance , allowing for more strategic planning . By automating routine processes , businesses can focus on higher-value activities , drive innovation and achieve cost savings , ultimately improving the bottom line and gaining a competitive advantage . 42 August 2024