As a provider of procurement & supply chain consulting<\/a> we have found that the use of Artificial Intelligence (AI)<\/b> in strategic procurement<\/a> can offer enormous competitive advantages to almost every company. In this context, the research company IDG has determined that the profitability of companies develops significantly more quickly when data is used efficiently. A lot of companies don't know that they are sitting on a treasure strove of data,<\/b> which can be lifted through the professional use of AI.<\/p>\n With the right analysis tools and technologies, great savings potential can be opened up. Use Emarticon's expertise in the field of digitization in procurement<\/a> to reduce your risks and costs, relieve your employees and increase your innovation rate through AI-based sourcing.<\/p>\n<\/div><\/div><\/div><\/div><\/div> Due to the current situation of the world market, the risk of loss of sales or excessive procurement costs has increased significantly. The use of artificial intelligence makes it possible to benefit from significantly better forecasts of demand and supply risks<\/b>. This is particularly important for the entire company in order to become resilient to risks of the world market that lead to supply bottlenecks. Other possible uses of the AI as part of the procurement strategy<\/a> are the support in vendor selection and the increase in efficiency of procurement processes.<\/p>\n<\/div><\/div><\/div> Essentially five areas of application<\/b> need to be distinguished in sourcing for the use of artificial intelligence:<\/p>\n<\/div>Areas of work of artificial intelligence in procurement & sourcing<\/h2><\/div><\/div><\/div>