Technology still cannot advantageously replace human thought processes, an industry event heard.
Artificial intelligence (AI) needs to improve before it benefits procurement and supply chain teams. This is the consensus different professionals recently reached at the Procurement and Supply Chain LIVE New York Virtual forum.
“As a technologist I love ChatGPT but in terms of procurement and supply chain we are a long way off seeing meaningful changes to our business,” ServiceNow product marketing director Dean Ocampo said according to Supplychain.
“There are parts of the business it is going to be great at, such as virtual agents but, regarding learning algorithms that generate recommendations, we are a long way off.”
Fannie Mae head of strategic sourcing and category management Rajeev Karmacharya believes current AI tools are promising.
“I am excited about the most is the use of AI on spend analytics and contract analytics. We can use AI tools that can help us be more efficient about identifying risks in a contract model. I have also experimented with using intelligent tools to score red lines across various suppliers,” he said according to the publication.
“In theory AI should give us the opportunity to make better and more-informed decisions but it will not make the decision for us and nor should it,” Fujitsu chief procurement officer Clive Rees added.