Alex Saric
Seth Catalli
2024 PREVIEW
Alex Saric
Smart Procurement Expert Ivalua
Seth Catalli
Chief Revenue Officer Globality
Procurement processes will change as they move beyond simply sourcing goods and services at the cheapest price . At the same time , AI-powered technology will automate repetitive , transactional processes and free up procurement teams to drive better business outcomes . McKinsey says procurement leaders who demonstrate value to the enterprise can rapidly become full-fledged strategic partners to CEOs , CFOs , and COOs , for example , and that ’ s a great route to travel over the next phase of use of technology in Finance across global business . 2024 might well be the year that the role of Chief Procurement Officer becomes more common in boardrooms around the world .
In 2024 , Generative AI ’ s success will hinge on the procurement professionals behind it .
In 2024 , AI hype will reach its peak . This time the hype will be matched by meaningful , relevant capabilities , and a raft of generative AI procurement tools will come to market , becoming accessible for procurement professionals . But , against sky-high expectations , procurement leaders must accept that Generative AI solutions are like any other tool – they are only as good as the person using them or the data they are fed . Leaders will reap the benefits while laggards will be disappointed as they fail to adjust how they work to leverage the capabilities of this innovative technology .
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