strategic sourcing

Digital transformation of the procurement value chain has been growing for years. With the advent of generative AI, enterprises can further automate transactional procurement processes and improve decision-making for strategic sourcing processes. Specialist procurement tool vendors have already started to integrate large language models and GPT technology into their solutions to facilitate digital procurement transformation. This research byte explores the potential of generative AI in the procurement value chain and how specialist procurement tool vendors are leveraging this technology to improve the potential of their tools.

September, 2023