Procurement and supply chain directors want to get a whole lot smarter on how they can use artificial intelligence (AI) to build more efficient and effective systems and business processes, according to a recent Amazon Business survey of over 3,000 procurement pros.

Just under half (45%) of respondents would be willing to incorporate AI immediately into their procurement operation, while 80% indicate they would do so within two years, according to Amazon Business. With AI-powered technology applications, procurement pros can more quickly identify product sources and manage expedited deliveries, says Aster Angagaw, Amazon Business vice president and head of the public, commercial and strategic sector.

Amazon Business and procurement AI

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

Procurement professionals also ranked security and technology (22%) and technological changes/AI (11%) as an overall challenge/risk in the next year. Concerns largely arise around data security and whether the technology is ready for real-world applications.

As procurement teams welcome emerging technologies, there’s a growing need to strike the right balance between improvements and security best practices. However, time is also of the essence. Even a year or two delay can open a window to greater advancements in AI, meaning laggards only fall further behind competitors. Just under half (45%) of respondents would be willing to incorporate and adopt emerging procurement solutions.

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