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How Artificial Intelligence Can Revolutionize Procurement

The digital age has produced many emerging technologies, to which is presenting new opportunities for businesses to predict and respond more effectively to market demands. One of the leading trend, Artificial Intelligence, has brought about a new, more efficient and intelligent ways of streamlining business operations, which has sustainably helped to achieve high business outputs and first-mover advantage for business owners.

Landscape of an Artificial Intelligence Technology
The diagram above shows the landscape of an Artificial Intelligence Technology. (Khalid, H.,2017)

Artificial Intelligence Can Improve Procurement

The biggest trend in technology right now is the race to make machine learning more sophisticated. Machine Learning is the ability of computers to self-teach and improve from experience without being explicitly programmed. Based on human neural learning, machine learning takes millions of examples and uses layers to build on itself to eventually interpret something without a human first identifying it.

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Sylvia Lee, GDPM
Sylvia Lee has substantive years of experiences in the field of procurement, and especially in the construction industry. She is a qualified member of the Singapore Institute of Purchasing and Materials Management (SIPMM). Sylvia holds Professional Diploma in Purchasing Management and has completed the Graduate Diploma in Procurement Management (GDPM) in November 2017 at SIPMM Institute.

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