Artificial intelligence-enabled solutions can support procurement activity by allowing teams to process large, complex data sets to either augment processes undertaken by humans or drive better decision-making through more advanced analytics. AI-enabled solutions are particularly adept at processing complex, multidimensional data at higher speeds and in greater volumes than humanly possible.
At one energy generation and distribution company, inconsistent spend classification practices contributed to a lack of clear governance and prevented the procurement function from creating a uniform company-wide classification lexicon. As a result, the organisation explored AI-enabled technology to help improve its visibility over and ability to analyse strategic spend.
Download Procurement Leaders’ case study to gain insights into how the company accomplished this.