2024 Guide to AI-First Digital Procurement Transformation

In today’s rapidly evolving business landscape, the role of AI in reshaping procurement and supply chain operations is undeniable. This whitepaper presents insights from a comprehensive study, aiming to gauge the importance of AI adoption for achieving competitive advantage in the dynamic AI economy. Our study delves into the various facets of AI adoption, assessing current AI adoption stages, identifying challenges, and envisioning the evolving role of procurement professionals. We also evaluate the readiness of procurement data infrastructure, training efforts, and team skill sets, along with perceptions about ROI timelines and the importance of AI adoption for differentiation. The insights gathered present a nuanced perspective on the landscape of AI integration within procurement, shedding light on the encountered obstacles, as well as the expectations and strategies embraced by industry experts. This executive summary provides a condensed overview of the primary discoveries, laying the groundwork for an in-depth examination of AI’s potential to revolutionize procurement and supply chain operations.