Artificial Intelligence (AI) AI in spend analysis, accounts payable, and source-to-pay applications, is growing rapidly across many organizational applications, and nowhere is this impact greater than in procurement. AI applications will become increasingly important especially in buyerseller transaction systems, to enable improved efficiency of transaction flows. Initially, we expect to see many procurement applications of but this will become more important as we observe AI applications in areas such as supply risk management, buyer-seller relationships (including email exchanges), and improved supply base management. AI has a bright future, but organizations can begin to prepare for this by focusing on data quality and standardization, to establish a solid foundation for the application of these emerging AI technologies.

Contributors: NC State University, Zycus
Categories: Whitepaper
SRC Type: Disruptive Digitization