Published: 04 January 2024
Procurement technology is rapidly evolving and changing how procurement will be executed in the future. This research helps chief procurement officers understand how technology is impacting the future of procurement and make plans now to address predicted impact on process, staffing and execution.
AI will dramatically change how work is done through skill augmentation, allowing people with little proficiency to execute at par with a relatively well-skilled procurement practitioner.
Technologies such as generative AI will take over most communication-focused tasks, forcing procurement staff to learn more hard technical skills to stay relevant.
Procurement organizations that do not embrace AI technologies will find themselves at a cost and agility deficit compared to their competitors.
Procurement leaders should:
Explore which types of work can be commoditized by examining where vendors are focusing research funding and cataloging which types of work are typically given to staff newer
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