AI
Procurement is in the midst of a fundamental shift, with machine learning( ML) now fully integrated across the procure-to-pay cycle. This important subset of artificial intelligence( AI) is transforming procurement by streamlining supplier selection, enhancing forecasting and enabling smarter decision making.
From intelligent intake and scoping to data-driven supplier comparisons and autonomous negotiation, ML helps procurement teams boost efficiency, cut costs and strengthen supplier relationships, while positioning the function as a strategic driver of business value.
Well positioned to comment on the rising application of ML in procurement is Keith McFarlane, Chief Technology Officer at Globality, who reflects on its introduction alongside a close relation: Gen AI.
“ Procurement professionals were among the first to experiment with Gen AI,” he says.
“ Tools like ChatGPT and Microsoft Copilot brought improvements in scope clarity and descriptive text, even if early results were undermined by hallucinations, fictional supplier recommendations or budget guesswork.”
Despite these issues, machine learning has become essential to procurement decision making, from intake all the way through to final negotiation.
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