AI AND AUTOMATION
“ Another misrepresentation building on this confusion ,” says Doyle , “ is that we still often have a tendency to view AI as something highly futuristic . Yes , large amounts of AI technology are incredibly cutting-edge . But AI technologies are already embedded into many procurement processes and are used every day across almost every aspect of our lives .”
According to Deloitte ’ s 2021 Global Chief Procurement Officer ( CPO ) Survey ,
50 % of CPOs say their company is using or piloting an artificial intelligence or cognitive intelligence solution . “ There is still a long way to go ,” says Doyle . “ But AI is not something in the distant future . It ’ s an already well-developed technology that many procurement functions have implemented . And any companies not already using AI solutions really need to think seriously and quickly about how they can start leveraging this technology , or else risk falling behind .”