Infosys BPM

Artificial intelligence (AI) has made significant strides in transforming various industries in recent years, and procurement is no exception. One notable advancement in AI is the development of conversational generative AI models, which has proven valuable in streamlining procurement processes. This necessitates exploring the role of generative AI in procurement, focusing on how it enhances efficiency and decision-making within the function.

In this edition of Spendbytes, we dwell on how embracing AI can help organisations stay ahead in the game, adapt to evolving market dynamics, and unlock the full potential of their procurement function.

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In a digital world, companies seek to derive the best growth and value from the vast amounts of available data to empower their employees and become customer-centric. Powered by constantly evolving technologies, BPM analytics will be well-positioned to deliver the right insights to the right users at the right time.

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Revolutionising traditional processes and enabling organizations to achieve new levels of efficiency, insight, and strategic decision-making, AI is a game-changer for procurement. The recently launched generative AI has intrigued members of every team and job level with its humanlike responses and has drawn much interest from the procurement community.

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The advent of Artificial Intelligence (AI), Smart Learning capabilities and Natural Language Processing (NLP), has opened a new world of opportunities for revolutionising the user experience. Besides smart assistants on mobile devices, these chatbots are now increasingly being utilised across businesses to improve customer experience, drive efficiencies, and provide real-time support.

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