#5 GEN AI will Disrupt Procurement
The future of procurement is looking incredible
Hey Procurement Legend,
Open AI keeps pushing Generative AI into new realms. It’s incredible to see so many of you testing out my Procurement Legends GPT. This will be getting an update at the end of the week with more information being fed to it beyond the initial 30k words of content from my Digital Second Brain.
TEST IT HERE PLEASE, and let me know what you make of it.
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What I'm Reading
Future-Proofing the Supply Chain, by Jan Henrich. This is a solid read for anyone in Procurement:
💡 Forward-thinking chief supply chain officers (CSCOs) can future-proof their supply chains by recognising three new priorities: resilience, agility, and sustainability. Resilience involves addressing disruptions, agility enables meeting evolving customer needs, and sustainability supports the transition to a clean economy.
What I'm Thinking (about Procurement)
How the turbo-charged changes to Generative AI will tremendously disrupt our Profession, but most people are sleeping on this. Moving forward, I’ll be making more content on AI and procurement as part of the content for our paid members.
One Procurement Tech-Focused Insight
Elouise Epstein says, in her latest book (to be released soon):
“Finally, the technology underpinning today’s supply chains was designed and developed in the 1980s and 1990s and hasn’t really evolved to confront the third-party way of operating, hence creating the data visibility and exchange problem”.
I don’t think most procurement teams who have yet to go digital, truly understand how bad their procurement data is once they get it into one system/eco-system and try to use it.
Spend more time with data.
A Few Pieces of Content I've Found Useful
Martin John’s Mastering Supplier Relationship Management Course
Joel’s post on T-Shaped Procurement Pros is a good one to check out.
This piece by
is worth a read.My Procurement Reading List
Check this out here - make sure you get one of these books.
How you can Support World of Procurement Elsewhere
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Daniel
Thanks for the shout out Daniel.
I'm really looking forward to experimenting with the possibilities with Gen AI and User Training documentation in companies. Theoretically, this could be a game changer for chatbots!
In practice, I think the toughest part will be data governance. How can Gen AI products ensure your company data isn't fed into the general model...?
Have you done any thinking/reading on this?
Just like we went through with Cloud/SaaS a few years back, I'm sure we'll figure it out but that's the biggest hurdle I see to adoption.