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By 2027, half of organizations will support supplier contract negotiations with AI-enabled tools, according to Gartner. This shift promises to bring significant changes in how procurement teams operate. Recent insights from a Gartner survey of 101 procurement leaders highlight that sourcing and contract life cycle management is where generative artificial intelligence (GenAI) is expected to have the most impact over the next year. Here are some key points: ➡️ AI-driven contract risk analysis and editing tools will empower procurement teams by leveraging legal department guidance and previously agreed-upon terms. ➡️ AI will highlight potential risks and offer risk reduction options, speeding up the negotiation process. ➡️ With AI handling more tasks, procurement teams can focus on higher-value activities. Read more here: What are your thoughts on AI's role in procurement? How do you see it transforming your contract management processes? https://lnkd.in/eFjmF3zi #Procurement #ArtificialIntelligence #ContractManagement

Half of procurement contract management will be AI-enabled by 2027

Half of procurement contract management will be AI-enabled by 2027

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