Reshaping the traditional practices of procurement , machine learning – similarly to AI – offers unprecedented levels of efficiency and strategic advantage for those implementing the technology .

Providing exceptional analytics capabilities , machine learning helps to automate the mundane , time consuming , and repetitive tasks for procurement functions . As such professionals benefit from gaining back time to focus their expertise on more strategic tasks that drive greater profitability .

Core areas in which machine learning can be best applied include spend analysis , sourcing , risk mitigation , and contract management .

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