TECHNOLOGY
“ Companies that resist it and downplay it will start creating a cultural adoption gap that will differentiate the have and havenot companies of tomorrow ”
KEVIN FRECHETTE C0-FOUNDER & CEO ,
FAIRMARKIT
“ Organisations should look at the use case ’ s possible risk , holistic potential impact , and the desired output of the AI / GenAI application . If it ’ s low risk , controlled impact , and you ’ re looking for AI / GenAI to do 80 % of the work and then have humans complete the final 20 % and act on it , then you ’ re probably looking at the right area to start experimenting ,” says Frenchette . “ If you want a magical silver bullet to do everything perfectly , prepare to be disappointed .”
It will increasingly open up new opportunities that would be beyond the abilities of even the most experienced human operators according to Thomas Buch Andersson from Responsibly .
“ AI can be used to find saving opportunities , analyse massive amounts of data , and connect it in new ways not possible previously to identify how to optimise ,” he said .
“ To provide a non-procurement example , the team behind DeepMind spent a year setting up their models to find out how to optimise the energy consumption of Google ’ s data centres . By being able to review huge amounts of data real time , they could find significant optimisation opportunities that a leading team of experts were never able to .”
Laying the foundations for an AI future The common attitude from those working on the evolution of AI and GenAI technology is that we are only beginning to scratch the surface of what is possible in procurement with more intelligent platforms . The work being done now is laying the groundwork for the future of AI will help to usher in the next generation of smart technology .
As Muhammad Alam from SAP explains , its new platforms are the foundation for how procurement technology will evolve in the future .
“ This architecture has been a long time making for us , so we ’ re really excited to actually announce it now to the customers ,” he said , but his excitement for what comes next with the platforms now being created is even greater .
“ I think organisations today will get a tremendous amount of value from it , our excitement and our roadmap and our vision for it is actually much longer than the runway we ’ ve covered .” procurementmag . com 113