Across industries, artificial intelligence (AI) is revolutionizing business practices — the way we market, communicate and improve processes. One of the last frontiers for AI development is procurement, and that is all about to change.
Precisely because procurement has traditionally been so slow to adapt to rapidly changing technologies, the potential for improvement is tremendous.
Until recently, procurement has been overlooked as a source of cost-cutting efficiency. Businesses clung to traditional methods, using manual processing long after the rest of the world adopted automated systems. In their 2018 survey, Deloitte notes: