What Can Artificial Intelligence Do for You?

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First, it is important for procurement organisations and their leaders to embrace the reality and potential for AI and cognitive procurement. Understand that, like most technologies, AI may bring changes, but it also presents significant opportunities. Next, based on the capabilities outlined above, think about what projects or processes in your organisation could most benefit from cognitive procurement. As you apply AI to certain procurement tasks and processes, you'll begin developing internal capability and expertise. It will also change the profile and enhance the skill set of your procurement professionals.


Redesigning Software Procurement through Intelligent Agents

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In summary, ADE provides: (i) a predefined class hierarchy of agents and agent components; (ii) an agent communications "middleware"; ('hi) a graphical programming language to design and develop agents' behavior based on the Grafcet standard; (iv) a distributed simulation environment test multi-agent applications built with ADE; (v) a complete debugging and tracing environment; and, (vi) a deployment center to deploy agents in the G2 environment or as "JavaBeans" in Java Virtual Machines. Redesign Agents and Results In this section we present the preliminary results from our use of ADE and application of intelligent software procurement agents to redesign the govemment software procurement process.


Getting Real with Artificial Intelligence in Procurement

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We are currently working on an AI in procurement research series that we'll be releasing over the next few months. For now, though, check out this webcast that we did with KPMG where we spelled out 23 different procurement AI areas that are being deployed out in the field. In it, KPMG had a few nice graphics that overlaid various AI technologies onto different procurement business processes. For example, machine learning can be helpful in classifying spend-related text (including unstructured and semi-structured) to any target spend taxonomy within spend analysis for strategic sourcing, but it can also be used to perform real-time auto classification within an e-procurement "guided buying" scenario.


BravoAdvantage - Predictive Analytics Today

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BravoAdvantage is the strategic procurement platform that enables organizations to generate more value, influence innovation and reduce risk. It is powered by a unique supplier-centered approach that integrates supplier lifetime value throughout the entire procurement process, BravoAdvantage provides the visibility, insight and transparency that is required to power and improve user's procurement initiatives and decisions. With the BravoAdvantage offering, BravoSolution continues to strengthen a global reputation influencing innovation in strategic procurement and supply management helping organizations propel business growth and maximize competitive advantage. Users will be able to manage costs, compliance and risk. Aggregate spend data from multiple disparate systems; cleanse and classify data into a common classification structure; and perform multi-dimensional analysis--which enables users to identify saving opportunities and correct compliance breakdowns to ensure that users realize their negotiated savings goals.With BravoAdvantage's Streamline processes, user's can reduce cycle times and achieve valuable business outcomes.