Preparing Procurement for the AI-Powered Future

In a recent podcast with Moundir Khenfous, Director of Indirect Procurement at CAE, we discussed how procurement professionals should adapt to innovations in artificial intelligence (AI).

The integration of AI technology poses significant questions for procurement professionals. Chief among them: how do they remain relevant in an AI-augmented environment? 

Why does Procurement need to upskill for aI?

Moundir stresses that procurement organisations must proactively upskill and reskill their teams to ensure they thrive alongside AI innovations.

Procurement organisations need to make the conscious decision right now to upskill procurement professionals so that they remain relevant when AI takes over the legwork."

AI is set to automate many routine and repetitive tasks traditionally handled by procurement professionals, such as data analysis, documentation summarisation, and basic reporting.

Procurement roles will shift dramatically, emphasising strategic, analytical, and interpersonal skills.

What are the Key Areas for Upskilling Procurement team for aI?

• Storytelling and Communication Mastery: The ability to articulate procurement strategies effectively and persuasively will become even more crucial. Strong communication ensures that stakeholders clearly understand procurement’s strategic value.
• Prompt Engineering: Mastering AI prompt design to leverage powerful tools like generative AI (e.g., ChatGPT) will differentiate procurement teams by enhancing the quality and effectiveness of AI-generated insights.
• Learning Agility: Embracing lifelong learning and adaptability is critical. Procurement professionals must continuously update their skills to leverage new tools and processes effectively.

How can organisations support procurement with aI upskilling?

• Implementing Training Programmes: Structured learning initiatives focused on AI competencies and strategic skills.
• Encouraging Experimentation: Promoting environments where procurement teams can safely experiment with AI technologies to build confidence and familiarity.
• Regular Skill Assessments: Continually evaluating skills gaps and developing personalised upskilling plans.

What are The Benefits of AI for procurement?

Upskilling not only prepares teams to work effectively alongside AI but transforms procurement from a tactical function into a key strategic players.AI keeps us honest, says Moundir.

It challenges procurement professionals to clearly demonstrate the value they add beyond routine tasks, significantly enhancing their role's strategic significance.

Conclusion

The AI-driven future of procurement demands proactive skill development to harness technology’s full potential.

By investing in upskilling now, procurement teams can ensure they not only remain relevant but thrive as strategic leaders within their organisations.

Listen to the full discussion on Procurement Reimagined →