243: Building Your Procurement AI Game Plan w/ Sammeli Sammalkorpi

Automation can only be as good as we program it to be. If we want innovative, industry-leading support from emerging technologies, we need to be informed about the potential applications of AI and machine learning.

I’m joined today by Sammeli Sammalkorpi, Co-founder of Sievo, in a discussion that was driven by the engaged audience that joined us for February’s AOP Live session. We gathered questions in advance and fielded spontaneous ones during the event rather than wading through a conventional slide-driven talk on AI use cases.

One topic everyone kept coming back to was how to know when you are ready for an investment in AI and whether procurement is a good use case.

According to Sammeli, there are an increasing number of examples of how AI and machine learning add value in procurement. They include spend classification, capturing supplier information from public sources, and parsing the key terms from lengthy, complex contract documents. Automation can be implemented as a pilot project or an enterprise-wide effort, and it can improve legacy processes as well as parts of the business that have been deliberately re-worked to leverage the unique advantages of AI.