IDC Spotlight: The ROI of Generative AI in Procurement

The IDC Spotlight, sponsored by Zycus, ROI of Generative AI in Procurement explores the potential of generative AI in improving procurement efficiency, decision-making, and supplier management, while also addressing ethical considerations.
Implementing GenAI in procurement processes enhances organizational performance by automating routine tasks, reducing operational costs, and empowering procurement teams with real-time decision-making capabilities. This fosters innovation and agility in procurement practices.

Benefits of Gen AI in Procurement

• Heightened efficiency
• Enhanced decision-making
• Improved cost savings
• Improved cost savings

Top Use Cases of Gen AI in Procurement

• Supplier Management
• Spend Analysis
• Contract Life Cycle Management
• Demand Forecasting

The next evolution in GenAI use is the agentic AI platform, which allows AI systems to independently analyze data, set goals, and take actions with minimal human intervention.
BONUS: IDC’s study on Gen AI ROI with time for organizations
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