Want your procurement staff to be ready for the next big thing? There is undeniable value in a staff that is savvy with current technology, but how do you prepare your staff to be ready to keep up with the digital trend that’s here to stay? In many cases, trends come and go, but sometimes they are the forces that drive innovation and success for businesses worldwide. Organizations of all sizes who embrace changing times are better able to develop strategies to manage change in a way that positions themselves for the future. Digitalization is achieved through the use of technology to strengthen existing processes and practices. It can also be looked at as the thread that is woven through multiple silos of information as means to integrate people, processes, and data throughout an organization. Outside of cost savings, there is value in digital efficiency, especially since procurement plays a vital role in shaping strategic models that support the execution of a multitude of contractual goods and services.
Read more “Building a Procurement Team for a Digital Future”
Living in the Age of Artificial Intelligence
In the previous installment of this two-part series I discussed the amazing transformation and evolution made possible by automation and technology advancements of the 20th century. Today’s technology transformations such as robotics, artificial intelligence, biotechnologies, and the Internet-of-Things will have a great impact on society, disrupting every industry and improving many aspects of our personal and work lives. They also create problems for governments around the world that must now figure out how to regulate this new environment and respond to socio-economic concerns such as displacement of workers by automation, or inequality.
Of all big tech companies using AI to enhance their products or services, Amazon is clearly leading the pack with home automation products like Alexa, its version of a personal assistant. Facebook has recently sunset “M,” which hoped to take current personal assistants to the next level where the trained AI machine would have had the same knowledge as the user and do more things than regurgitating various scenarios scripted by app developers. However, the race to lead in AI as a service is on.
Read more “The Age of AI: Will Robots Take Over? Part II”