The implications of the latest technologies on the future of Procurement...

2. Cognitive Procurement: The Final Frontier
Cognition, as defined by the American Psychological Association, relates to the
“processes of knowing, including attending, remembering, and reasoning; also the
content of the processes, such as concepts and memories.” These processes use existing
knowledge and generate new knowledge.
Not so long ago, the technology sphere was all about the victories of Google’s AlphaGo
in the game of Go (in 2016 and again in 2017), a game that is “vastly more complex than
chess, and possesses more possibilities than the total number of atoms in the visible
universe.” This victory illustrates the latest progress in terms of Artificial Intelligence (AI)
and such advances are “no longer reserved for spectacular demonstrations” as
McKinsey notes in the introduction of their article “Four fundamentals of workplace
automation” in which they give more concrete examples of the impact of AI on our
everyday life.
These developments will also have an impact on Procurement. Our whitepaper explores
the consequences and opportunities of technological advances that change the way
humans and technology cooperate. We will also highlight how this can boost
performance and unlock new capabilities. In the world of Procurement, the application
of these latest technologies has a name: Cognitive Procurement.

4. Get the
whitepaper
here!