Artificial intelligence (AI) is very popular right now. It is showing up in many different types of business and in some interesting places in the business environment and processes. This interesting information came to us from Spend Matter sin their article, “Getting Real with Artificial Intelligence in Procurement.”
It also has the potential to be the most disruptive business trend going forward. As technology professionals, it’s easy to be a little jaded about all this AI stuff and become reluctant to spend much time on it.
Much of the problem with AI is that it’s misunderstood as a technology that’s somehow different and separate from day-to-day processes and technologies. A deep learning system employing multi-layer neural networks is not something that practitioners themselves will be looking for anytime soon.
AI in procurement research is one of the newest areas of use. For example, machine learning can be helpful in classifying spend-related text to any target spend taxonomy within spend analysis for strategic sourcing. That is just one application of many.
Melody K. Smith
Sponsored by Data Harmony, a unit of Access Innovations, the world leader in indexing and making content findable.