Amazon Business: Procurement directors want to leverage AI

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Procurement and supply chain directors want to be smarter about how to use artificial intelligence (AI) to build more efficient and effective systems and business processes, according to a recent Amazon Business survey of more than 3,000 procurement professionals.

Just under half (45%) of respondents are willing to incorporate AI into their procurement operations immediately, and 80% indicate they will do so within two years, according to Amazon Business. With AI-powered technology applications, procurement professionals can quickly identify product sources and manage accelerated supply, said Esther Anggau, vice president of Amazon Business and head of public, business and strategy.

Amazon Commerce and Procurement AI

The technology sector (52%), telecommunications (51%) and medical/pharmaceuticals (49%), are leading the adoption of AI immediately or within a year. Healthcare services are least likely to do so (38%), followed by government respondents (39%).

Procurement professionals also ranked security and technology (22%) and technology changes/AI (11%) as overall challenges/risks in the coming year. Concerns often arise about data security and whether the technology is ready for real-world applications.

As procurement teams embrace new technologies, there is a growing need to strike the right balance between improvements and security best practices. However, time is also of the essence. Even a delay of a year or two could open a window for further advancements in AI, meaning laggards will only outpace competitors. Less than half (45%) of respondents would be willing to incorporate and adopt procurement solutions.

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