Published: 25 June 2024
Procurement organizations are rapidly mobilizing to incorporate generative AI into their processes. Procurement technology leaders can use this data to understand how peers are reacting to and investing in generative AI capabilities as they create their own plans.
A majority of procurement organizations have plans to implement at least one use case of generative AI over the next 12 months. Despite concerns around data, risk, and unproven ROI, plans for pilots proceed with 15% of organizations having already implemented.
Procurement organizations are allocating approximately 5% of their total budget to experiment with generative AI, inclusive of the technology cost. Expected deployment options range from building it themselves, using a consultant, to buying directly from current or new technology vendors.
Early use cases of generative AI in procurement support tactical tasks within strategic activities of the sourcing and
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