AI in Procurement and ‘Autogmentation’ Part 4 — Procurement use cases of AI and Generative AI

In parts one, two and three of our series, we discussed how the evolution of technology has constantly penetrated the business world and how procurement hasn’t been immune to the phenomenon. Technology initially increased process velocity (automation) because of the move from analog to digital. With the increase in computational power, machines are taking over more and more tactical repetitive tasks. Then, this gradually moved to more complex tasks, which initially only required more analytical activities working in concert with humans (i.e., augmentation) but eventually evolved from predictive and prescriptive analytics towards more embedded and autonomous analytics that directly help execute the workflows.

This article explores the possibilities AI has presented to procurement by looking at real-world use cases and product capabilities.