30.1 C
Sunday, January 16, 2022
HomeProcurementThe Future of Procurement with Artificial Intelligence

The Future of Procurement with Artificial Intelligence

What is Artificial Intelligence?

Artificial intelligence (AI) refers to simulated intelligence in machines. These machines are programmed to “think” like a human and mimic the way a person acts. The ideal characteristic of artificial intelligence is its ability to rationalize and take actions that have the best chance of achieving a specific goal.

AI Procurement

Machine Learning (ML), a branch of AI, is not programmed to do a task; it is programmed to learn. Data analysts teach the computer using data samples and by correcting the AI’s mistakes. Alternatively, the machines learn from historical data to build a model that it applies to any new data with which it is presented

New Capabilities with Artificial Intelligence

AI is coming of age as one of the main technological drivers of today’s transformed procurement organizations. With AI-derived analytical power, procurement professionals can unlock valuable insights from data and realize unprecedented efficiency and effectiveness throughout the organization.

The full content is only visible to SIPMM members

Already a member? Please Login to continue reading.

Nurazyyati Jaffar, ADPSM
Nurazyyati (or Yati in short) has substantive years of experiences in the field of procurement. She is a member of the Singapore Institute of Purchasing and Materials Management (SIPMM). Yati holds Professional Diploma in Purchasing Management (PDPM) from SIPMM Academy. She completed the Advanced Diploma in Procurement and Supply Management (ADPSM) at SIPMM Institute in December 2017.

Most Read