708: Unleashing the Power of Generative AI in Procurement w/ Lance Younger and Nick Heinzmann

Art of Procurement

“Longer term, I think people haven’t fully understood the power of generative AI beyond their own personal use cases. But now, the central theme is really testing out where it can go.” - Nick Heinzmann, Head of Research at Zip

AI has been in the mainstream long enough now that it’s time for procurement to get specific and systematic about where, when, and how to apply it to the tech stack in order to generate the most value for the business.

In this episode, Philip Ideson and Kelly Barner speak with Lance Younger, CEO of ProcureTech, and Nick Heinzmann, Head of Research at Zip, about current best practices for positioning AI in the tech stack and how procurement can navigate the inherent risks that may accompany digital transformation. They also discuss the value and benefits AI can bring to procurement, like optimizing the S2P workflow, data management, compliance, and process efficiency.

Listen in to discover:

• The best ways to apply and integrate AI across procurement’s entire stakeholder network
• The most important areas of risk procurement should be aware of when adopting AI
• The ideal role AI plays in the procurement tech stack, including outsourcing

Links:

• Subscribe to This Week in Procurement
• Lance Younger on LinkedIn
• Nick Heinzmann on LinkedIn
• Watch on Demand: Unleashing the Power of Generative AI in Procurement