different systems and silos , meaning there is a risk of valuable context being lost when it is combined . “ Since generative AI is only as valuable as the data it draws from , companies that can best combine their own business data with generative AI to provide the strongest context to the models will have a significant leg up on the competition ,” he adds .
Gen AI and compliance The mood across the industry is that of excitement for the emerging technology ’ s potential , but with a note of caution that human expertise is still critical to ensure compliance and privacy isn ’ t compromised . “ Against sky-high expectations , procurement leaders must accept that Gen AI solutions are like any other tool – they are only as good as the person using them or the data they are fed ,” says Pascal Bensoussan from Ivalua .
This call for vigilance is backed by Sarah- Jayne van Greune , Chief Operating Officer at Payen & ILIXIUM . She believes AI offers compliance teams a powerful tool to stay competitive and streamlines costs and processes to allow staff to focus on higher value work , but human expertise
106 February 2024