Natasha Gurevich
AI IN PROCUREMENT
Natasha Gurevich
Founder & CEO Candor Procurement
Natasha echoes this sentiment , highlighting that despite AI ’ s massive investment - it might not be the holy grail it claims . “ Since the beginning of 2023 , venture capital has invested nearly US $ 98bn in AI ,” she says . The surge in funding could be said to reflect a belief in AI ’ s potential , but is it always the right tool for procurement professionals ?
AI ’ s effectiveness depends on the quality of the data it processes . “ I cannot forecast anything . If it ’ s good , it will be garbage in , garbage out ,” Natasha warns . While areas such as spend assessment demand accuracy , not every procurement process requires more data .
“ There are some areas where you don ’ t have to overcomplicate and seek for more data , and you don ’ t have to have a high degree of accuracy .” Knowing when to prioritise AI and when to rely on simpler methods is crucial .
“ If procurement and people have a formula for problem-solving , it really doesn ’ t matter what ’ s in front of them . They ’ ll figure it out .” AI can enhance efficiency , but critical thinking and verification are still essential . “ That ’ s how the procurement mind works ,” she asserts “ we get all the data , we trust nothing . We verify everything .”
“If procurement people have a formula for problem-solving it really doesn ’ t matter what ’ s in front of them ”
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