AI IN PROCUREMENT
Jeff Morrison, Senior VP, Global Purchasing and Supply Chain, General Motors says supply chain management today is like making a jigsaw on a moving train. He adds:“ The puzzle itself is tricky, and the train’ s bumps and shakes make everything unpredictable.
“ You have to adjust quickly and stay focused as new challenges pop up with every jolt so you can solve the puzzle before the train arrives at your stop.”
Given the drastic way in which risks can suddenly appear and change a supply chain in a moment, being well prepared is more important than ever for companies operating across the world.
In order to stay as far ahead as possible, companies have turned to AI for their risk management plans.
AI: the game-changer for risk management AI strengthens intricate decisionmaking capabilities, making it a transformative force across all sectors. It enables laborious and lengthy tasks to be executed with greater efficiency and effectiveness, while providing leadership teams with unprecedented analytical depth.
Machine learning – an AI variant in which computer algorithms refine themselves through datadriven experience – is assuming a growing significance in enterprise risk management. procurementmag. com 97