Generative AI like ChatGPT has taken the world by storm. Imaginations have been seized, and people have responded with every emotion from excitement to fear to confusion. But procurement has seen the world respond to new technology like this before - remember Blockchain? Will this time be different?
In this episode of The Sourcing Hero podcast, Host Kelly Barner welcomes Kevin Frechette. Kevin is the Co-Founder and CEO of Fairmarkit. One of the things he focuses on in his conversations with procurement professionals and teams is understanding how procurement can be transformed using data, automation, analytics, AI, and machine learning.
In this interview, Kevin shares what he is seeing and hearing as procurement works to figure out how to create value with the help of generative AI:
Whether generative AI will keep its prominent position in the tech landscape or fade back into the background
How companies should discuss the inclusion of AI in their products, lead with AI’s instant cool factor or leading with user experience
Concerns from information security teams and how that may affect procurement’s current adoption trajectory