Disrupting Procurement: AI, Predictive Analytics, Blockchain And IoT - Disruption Hub

We hear a lot about how emerging technologies such as artificial intelligence (AI) and machine learning (ML) are disrupting the future of work, but very often this is a high-level narrative that doesn't dive into specifics in terms of the enterprise business functions being most impacted. In this article, we'll look specifically at the procurement function to examine how and where business processes are being transformed – and even disrupted – and some of the most impactful technologies involved. These include AI/ML, predictive analytics, blockchain and IoT, as well as AR/VR and intelligent agents. While procurement might be one of the last places you'd expect to find digital transformation, the fact is that it's well underway and a sizable organisational opportunity for unlocking cost savings and operational efficiencies. By way of example, the Ariba Network supports over 3.4 million companies in over 190 countries and conducts over $2.1 trillion in commerce annually.