Zycus' “State of Generative AI in Procurement” Report Reveals Minimal Adoption of GenAI in Source to Pay
2024年7月31日 - 12:00AM
ビジネスワイヤ(英語)
Zycus, the global leader in GenAI powered Source-to-Pay (S2P)
solutions, in collaboration with Procurement Tactics a renowned
procurement strategy consultancy, has released a groundbreaking
report aimed at helping Chief Procurement Officers differentiate
between hype from reality of Generative AI (GenAI).
The "State of Generative AI in Procurement" report provides
unprecedented insights into how Generative AI (GenAI) is
transforming procurement processes, based on extensive survey data
from procurement leaders worldwide.
Key Findings Reveal a Critical Crossroads in GenAI
Adoption:
- Adoption Gap: Nearly 70% of Chief Procurement Officers
(CPOs) have yet to implement GenAI, despite its demonstrated
benefits. This stark divide highlights a substantial untapped
opportunity for competitive advantage.
- Governance Challenge: Over 60% of companies lack
specific policies on GenAI usage, underscoring an urgent need for
strategic guidance as adoption accelerates.
- Transformative Potential: The report details how GenAI
is automating routine tasks and enhancing strategic decision-making
across the entire procurement lifecycle.
- Ethical Considerations: Data quality and security emerge
as top concerns, emphasizing the need for responsible AI
implementation strategies.
This report serves as a wake-up call for the procurement
industry. The potential of GenAI is immense, but the adoption gap
is equally significant. Organizations that act now to integrate
GenAI responsibly will gain a substantial competitive edge.
Download Report to learn about the benchmarks set by the
industry peers and get actionable insights to get started.
About Zycus
Zycus is the leader in Source-to-Pay (S2P) solutions, pioneering
the world's first Generative AI (GenAI) powered platform that helps
procurement achieve 10X speed and efficiency. It has been a trusted
partner of choice for large global enterprises and is consistently
recognized by leading analysts like Gartner and Forrester for its
organically built, composable and extensible source-to-pay
suite.
Its Merlin GenAI Suite automates tactical tasks, empowering
procurement teams to focus on strategic initiatives. Additionally,
it offers one-of-its-kind conversational AI, Merlin Assist, for
business users, integrated with Microsoft Teams to streamline
intake management with a user-friendly experience.
#10XS2PwithGenAI to Make Procurement Intelligent!
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version on businesswire.com: https://www.businesswire.com/news/home/20240730147490/en/
Media Sonal Sharma Lead Product and Content Marketing
Sonal.sharma@zycus.com