Cognitive Procurement White Paper
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Cognitive Procurement refers to the application of advanced artificial intelligence technologies like those that enabled Google's AlphaGo to defeat human opponents at the complex game of Go. These cognitive technologies can be applied to procurement to automate processes, boost performance, and unlock new capabilities by augmenting human cognition. The whitepaper explores the opportunities for and impact of cognitive technologies on the future of procurement work through greater human-technology cooperation.
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White Paper - Procurement Value Engine, Part II
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Cognitive Procurement White Paper
- 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.