When Will Procurement Bridge The Gap Between Digital Promise And Realization?

Posted on May 28, 2022

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A recent post on LinkedIn by Bill McCabe raises a fundamental question: What are your thoughts on the profitability of using IoT?

In the post, Bill reports that according to Gartner, “63% of organizations investing in IoT believe they will get returns in three years.”

Bill then says, “By embracing the latest digital technologies, businesses can create more efficient processes, optimize operations, and use better data and analytics to drive growth and innovation.”

CPOs Speak Out

Earlier this week, I was the moderator of a panel discussion with CPOs from three large enterprises overseeing successful digital transformation initiatives.

One of the questions from the audience was how the CPOs felt about emerging technologies such as AI (I include IoT in the category of emerging technologies).

While each CPO indicated that their digital strategy had enabled them to replace their reliance on email, they were not yet ready to fully embrace AI to reduce their dependence on spreadsheets. They then said that they fully believe in the promise of AI but that its universal adoption would not happen for another generation.

Based on their response, the gap between acknowledging AI and other emerging digital technologies’ promises and actually taking action to realize its benefits is still quite wide.

How do we bridge that gap sooner and finally abandon the reliance on “old tech” such as spreadsheets?

Posted in: Commentary