EXECUTIVE INSIGHT
Q . WHERE DO YOU THINK GEN AI IS GOING TO HAVE THE MOST IMPACT WITH PROCUREMENT OPERATIONS ?
» If you ' re looking at things like contracts , it ' s making fantastic movement , where in the past you would need a tonne of lawyers , you need to read a lot of documents in order for you to find the right clause to protect your interest or mitigate the risk .
If we want to talk about negotiations , AI can be a very good initial sparring partner .
We need to be aware that AI can help us evolve efficiency in terms of our contract negotiations , getting our job done , but we shouldn ' t lose sight that there ' s more to it . We need to be ready to accept that change when it comes .
Q . ARE WE NOW MOVING INTO AN AREA WITH GEN AI WHERE IT ' S NO LONGER JUST THE TOP END ORGANISATIONS THAT CAN BENEFIT FROM IT ?
» Are the tools available for the small and medium enterprises ? Absolutely . Does it cost an arm or leg like it used to be ? No , it ' s pretty affordable . But the small and medium enterprises would not know how to go about it .
When they try to bring in a consultant to guide them , the consultant is the one that will charge them an arm and a leg , which at the end of the day , it ' s not going to happen , because the culture of AI today it allows people to test it out , so long as you have a sandbox you can play in . That ' s more related to the culture of the company . For small and medium enterprises , if your cultures are not in tune , to explore and take
18 May 2024