AI in Procurement - The Reality [Report]
There has been zero real-world data on AI's true application and value in procurement.
Until now.
This world-first report analyzes $618 million of spend and 1000s of real-world interactions with Vertice AI to reveal precisely where, how, and why procurement teams are using AI - and to what effect.
You'll learn:
- Why the greatest appetite for using AI is in high-value, insightful strategic work that directly impacts the bottom line.
- How AI is flattening and democratizing teams and traditional collaborative working patterns.
- That combining expert human negotiators with AI-generated, deep-data insights triples savings.
Analyzing an unrivalled dataset
The report draws on real-world interactions and usage data from Vertice AI - over $600m of analyzed spend across 32 countries.
Plus, analysis of 1000s of actual prompts used to draw insights from the world's largest global dataset of vendor insights and pricing benchmarks.
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AI in procurement: Not what you think
Automation, workflow improvements, document summaries and searches are popular tasks that are enhanced and sped up by AI.
But when given the chance in their procurement platforms, procurement teams will use AI more to enhance their negotiating power and pricing understanding than to create operational efficiencies - a 180-degree reversal of market predictions.