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Jun 25, 2024

Dr. Elouise Epstein explains why androids don't dream about digital procurement


Dr. Elouise Epstein of Kearney held the opening keynote at the Cirtuo Procurement Forum 2024. β€˜π‘‡β„Žπ‘’ π‘Žπ‘”π‘’ π‘œπ‘“ 𝐴𝐼: π·π‘œ π‘Žπ‘›π‘‘π‘Ÿπ‘œπ‘–π‘‘π‘  π‘‘π‘Ÿπ‘’π‘Žπ‘š π‘œπ‘“ π‘‘π‘–π‘”π‘–π‘‘π‘Žπ‘™ π‘ƒπ‘Ÿπ‘œπ‘π‘’π‘Ÿπ‘’π‘šπ‘’π‘›π‘‘?’ was a tour de force through the evolution of AI and the profound implications it has on Procurement practitioners of all levels and technology providers.

Some of the quotes triggering chuckles and raised eyebrows:

β€œ84% of digital transformations fail.”
"It's not the AI that'll take your job, it's the person that uses AI that will take your job."
β€œMiddle managers kill digital transformations.”

The session challenged us to rethink the possibilities of AI for driving operational efficiency, the way we learn and engage with technology, and what skills will be required to be successful in Procurement in the future. Here are our key takeaways:

𝐊𝐞𝐲 𝐭𝐚𝐀𝐞𝐚𝐰𝐚𝐲𝐬:

  • AI revolutionizes Procurement already: from intelligent requisition systems to automated contract management, AI is reshaping or obliterating processes by enhancing efficiency and reducing complexity.
  • User-centric design is the key to success: the importance of intuitive interfaces and user experience in procurement tools cannot be overstated. Simplification leads to faster adoption and greater productivity. And ERP applications are even beyond Elouise.
  • We need a skills (r)evolution: as technology evolves, so must our skills. The future demands a shift towards data fluency, strategic thinking, and soft skills - things that you cannot learn from a procurement academy or a learning management system.

Dr. Elouise implored us to get real and start trying out the tools rather than just talking about them. Otherwise, we might become obsolete.

Watch the full keynote, get a good laugh, and let’s embrace AI in Procurement together!


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