AI-powered procurement: Building the agentic future

Artificial intelligence continues its relentless evolutionary push towards new operational horizons and strategic opportunities for procurement, with agentic AI representing the next step in the technology’s development.

While generative AI is reactive, creating content or answering queries only when prompted by a human, agentic technology is proactive and goal oriented. Agentic systems possess a degree of agency, meaning they can reason, plan and execute complex workflows across multiple systems with limited human supervision.

With procurement chiefs under continuing pressure to deliver more value, across more areas, with fewer resources, agentic tools offer a tantalising opportunity to accelerate the function's transformation and boost its impact by offloading tactical and time-consuming tasks – freeing staff to focus on high-level strategic work.

To reach this end goal, however, procurement must progress from experimenting with AI tools to delivering on use-cases that demonstrate the technology's bottom-line impact.

Download AI-powered procurement: Building the agentic future to access insights into:

• Developing bifocal AI strategies: Balancing near-term value delivery with fulfilling a long-term strategic vision for digital procurement.
• Implementing AI effectively: Leading organisations reveal when procurement should buy an off-the-shelf AI tool, develop a system in-house, and cocreate solutions with third-party providers.
• Understanding orchestration's evolution: Discover how procurement orchestration tools are evolving from a means of connecting fragmented tools and processes to enabling a 'hybrid' workforce comprised of humans and agentic AI tools.