Unlocking the Potential of ChatGPT in Procurement Operations

Procurement is a critical function for any organization, responsible for sourcing and managing the goods and services required to support its operations. The increasing amount of data generated in procurement operations has made it increasingly challenging for procurement teams to efficiently manage and analyze this data to make informed decisions. ChatGPT, a large language model powered by OpenAI’s GPT-3.5 architecture, has the potential to revolutionize procurement operations by leveraging its natural language processing capabilities to analyze and interpret large amounts of unstructured data. In this Market Brief, Insight Sourcing Group explores the ways in which ChatGPT can be applied in procurement operations to drive efficiency and cost savings.