EDITOR’S NOTE: Here are the links to the insightful responses from Dr. Tony Bridger and Claud Egli to yesterday’s post. My reply is below.
Claude Egli, Dr Tony Bridger, excellent points.
When it comes to procurement, why do we need GenAI? How would it improve on the results of Traditional AI, such as the case example I provided?
Remember the comments from a recent post – this one in particular – https://bit.ly/3YHiNVP
“Procurement Practitioner – Senior Executive
On the AI topic, I have been highly skeptical of how much is really being delivered vs. the promises across all the places we have been seeing AI advertised/promoted.
In the eProcurement industry, it seems that many providers have just slapped the “AI” brand on functionality that they already had in place, though there are a couple that say they are working on ‘real’ AI functionalities to put into their system. I’m still skeptical about the potential value to groups like Procurement. The most common example I’m watching is using AI to write documents like specifications, scope of work, and RFPs. Of course, so much depends on the sources an AI would draw from and the risk/danger that end users might put too much trust in the AI author.”
My point is this – I would not drive a Formula One car down a residential road, and I would not drive a VW Beetle in a Formula One race.
It is not the tech that is the problem – it never has been. It is the misalignment of tech using an equation-based model.
By the way, here is what a senior exec from a solution provider company said about GenAI:
Solution Provider – Senior Executive
“After making significant investments in our Supplier Intelligence offering, we realized that we could not sell it and had to withdraw from it and switch back to being just a supplier discovery company.
Being just a supplier discovery company is not going to pay the bills…..”
Using an agent-based model, you can successfully select, implement, and effectively use the right technology.
Reference Link: https://bit.ly/3oe5Vql
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Procurement Insights
GenAI for Procurement – Would you drive a Formula One car on a residential street?
Posted on August 17, 2024
0
EDITOR’S NOTE: Here are the links to the insightful responses from Dr. Tony Bridger and Claud Egli to yesterday’s post. My reply is below.
Claude Egli, Dr Tony Bridger, excellent points.
When it comes to procurement, why do we need GenAI? How would it improve on the results of Traditional AI, such as the case example I provided?
Remember the comments from a recent post – this one in particular – https://bit.ly/3YHiNVP
“Procurement Practitioner – Senior Executive
On the AI topic, I have been highly skeptical of how much is really being delivered vs. the promises across all the places we have been seeing AI advertised/promoted.
In the eProcurement industry, it seems that many providers have just slapped the “AI” brand on functionality that they already had in place, though there are a couple that say they are working on ‘real’ AI functionalities to put into their system. I’m still skeptical about the potential value to groups like Procurement. The most common example I’m watching is using AI to write documents like specifications, scope of work, and RFPs. Of course, so much depends on the sources an AI would draw from and the risk/danger that end users might put too much trust in the AI author.”
My point is this – I would not drive a Formula One car down a residential road, and I would not drive a VW Beetle in a Formula One race.
It is not the tech that is the problem – it never has been. It is the misalignment of tech using an equation-based model.
By the way, here is what a senior exec from a solution provider company said about GenAI:
Solution Provider – Senior Executive
“After making significant investments in our Supplier Intelligence offering, we realized that we could not sell it and had to withdraw from it and switch back to being just a supplier discovery company.
Being just a supplier discovery company is not going to pay the bills…..”
Using an agent-based model, you can successfully select, implement, and effectively use the right technology.
Reference Link: https://bit.ly/3oe5Vql
30
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