P&SC LIVE Singapore – Geodis’ CPO Keynote
Opening Procurement & Supply Chain LIVE Singapore, Terence Lee, Chief Procurement Officer (Asia Pacific) at Geodis, delved into the influence of Generative AI (Gen AI) in the procurement landscape.
Although Gen AI isn't fully autonomous, its capacity to emulate human intellect promises enhanced efficiency in procurement, contingent upon human ingenuity and strategic acumen.
Terence underscores Gen AI's efficiency advantages, particularly in task streamlining and insights provision, notably in contract management and cost optimisation. However, he cautions against conflating its value with exaggerated claims, emphasising the importance of organisational maturity and seamless integration into existing workflows. Training and a readiness to adapt are crucial.
Terence stresses the significance of collaboration between AI providers and end-users, citing trust, guidance, and a shared journey as key to success.
"If we want to improve our processes, if we want to improve our efficiency, how best can we include AI as part of our enabling?" says Terence.
He advocates for embracing experimentation and learning from failures, likening AI implementation to nurturing a child—providing guidance while remaining adaptable. Continuous learning and a willingness to reset when necessary pave the way for successful AI integration in procurement.
"Please make mistakes, because as weird as it may sound, you're going to learn more from your mistakes,” says Terence.
More to come in 2024…
Supply Chain Digital will be hosting four events throughout the year in 2024, both virtually and in person, including:
- Procurement & Supply Chain LIVE Dubai (Virtual)
- Procurement & Supply Chain LIVE New York (Virtual)
- Procurement & Supply Chain LIVE London
- The Global Procurement & Supply Chain Awards
To get your tickets, click here.
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