Artificial intelligence (AI) is being utilized for strategic sourcing and procurement. LevaData has announced the debut of Leva, which uniquely combines multiple AI technologies with intelligent assistance to drive savings throughout the supply chain. Business Wire brought this information to us from their release, “LevaData Launches Leva, the World’s First AI Advisor for Strategic Sourcing and Procurement.”
Drawing on a proprietary ontology of over 40 negotiation levers, Leva recommends the most effective lever and in the right context and sequence to dramatically improve negotiation strategy and outcomes.
This machine learning technology is being used in an optimized negotiation process that includes evaluation of response behavior, an ongoing search for value-based outcomes, and enabling semi-autonomous or even autonomous sourcing events. It doesn’t stop there. Constantly learning to drive continuous improvement, Leva incorporates crowd-sourced intelligence from the entire community of LevaData customers to continually learn from industry peers and improve results.
It is always nice to see new applications for AI technology in all parts of business.
Melody K. Smith
Sponsored by Data Harmony, a unit of Access Innovations, the world leader in indexing and making content findable.