Digital transformation and AI adoption in procurement: A global perspective

The leading strategic priorities shaping procurement and operations worldwide

The procurement landscape is rapidly evolving, with digital transformation and AI adoption at the forefront of this change. According to a recent Economist Impact survey of 2,307 executives across various industries and regions, these technologies are reshaping procurement strategies and operations worldwide.

Digital transformation: A top priority

Digitalization emerges as the leading strategic priority for procurement functions, with 57% of respondents focusing on it in the next 12-18 months. This emphasis on digital transformation is driven by several factors:

44

cite adoption of an AI strategy for procurement services as a main driver

44

cite spend analytics as a key motivator

41

prioritize improving user experience across people, processes, and products

In addition to the study data, two additional factors are contributing to the priority of digital transformation: (1) the need to drive increased productivity as workloads become higher due to complexity, and (2) the natural maturation of organizations as they rethink and optimize their existing digitized processes.

AI adoption in procurement

Artificial Intelligence is playing an increasingly crucial role in procurement. In the paragraph above, we identified that the adoption of an AI strategy is one of the drivers of digital transformation in procurement, but what do C-suite leaders want AI to achieve?

Over the next 12-18 months, organizations plan to leverage AI in various areas:

48

aim to improve procurement process automation

45

focus on optimization and guidance, including enhanced user experience and scenario planning

34

target productivity improvements and addressing skills gaps

Looking ahead: Emerging technologies

In the next 12-18 months, procurement leaders are considering several cutting-edge technologies, as follows:

34

are looking at generative AI for procurement to analyze business complexities through data-driven insights

33

are considering intake management for a single point of contact for all procurement support

These trends indicate a strong push towards more sophisticated, AI-driven procurement solutions across the board.

So what

Digital transformation and AI adoption are not just buzzwords in procurement—they're becoming essential strategies for organizations worldwide. As these technologies continue to evolve, procurement leaders across all regions and executive roles are recognizing their potential to drive efficiency, reduce costs, and provide valuable insights.

The research indicates that the coming years will likely see an acceleration of these trends, reshaping the procurement function and its strategic importance within organizations.

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