Masters in Business The ROI Rules of AI: Procuring Success (Sponsored Content)
Dec 16, 2024
Procurement professionals face numerous challenges in sourcing essential suppliers. A new AI solution streamlines the onboarding process, allowing for supplier searches using plain English. Dun & Bradstreet’s partnership with IBM’s WatsonX AI is transforming the way data insights enhance supply chain management. This intelligent supplier search not only improves efficiency but also addresses customer needs through generative AI education. The podcast highlights how strategic partnerships and technology can lead to significant gains in procurement.
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Streamlining Supplier Onboarding
- Procurement staff face a time-consuming process when onboarding new suppliers, often taking days to investigate one.
- Dun & Bradstreet partnered with IBM to create 'Ask Procurement,' an AI tool that streamlines this process.
The 'Aha' Moment of Gen AI
- Generative AI is a new concept for many customers, making it challenging to demonstrate its value.
- Once customers understand its capabilities, they experience an 'aha' moment and recognize its potential.
Successful AI Implementation
- AI projects should involve people, process, and technology, not just IT, to ensure business benefit.
- Combining private data with large language models creates competitive advantage.