Talent Talks Podcast

Author: Talent Drive

The Talent Talks Podcast provides regular insights and guidance to procurement and supply chain professionals. Host, Martin Smith interviews CPO's within large corporations and brands in the UK such as John Lewis, Mars, Babcock International, Managing Directors of procurement specialist companies including as Procurement Excellence and Embedded IT as well as thought-leaders and authors from the sector. Martin Smith, founder of Talent Drive is a specialist procurement and supply chain recruiter. He uses his network and expertise to provide insightful, thought provoking discussions, as well as providing tips on building your own career in the industry. The podcast is just one area of #projectprocurement; Martin's network of like-minded procurement professionals including webinars, content and events. Register your email to find out about our next meet-up and get involved: https://bit.ly/talenttalksmailinglist We'd love to hear your thoughts on the podcast, and do please reach out if you'd like to be a guest; martin@talentdrive.co.uk. All links and references at https://talentdrive.co.uk/
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Talent Talks Live 2024: How Al is Shaping the Future of Procurement
Episode 106
Wednesday, 18 December, 2024

On this episode of Talent Talks, Samuel De Frates, Kathryn Thompson and Bilal Shaykh discuss the transformative role of AI in procurement, exploring its potential to enhance supplier selection, risk management, and overall efficiency. They delve into the challenges faced by procurement professionals, the risks associated with AI implementation, and the importance of addressing resistance to change. The conversation also highlights the evolving skills required for procurement professionals in the age of AI and the future trends that will shape the industry.TakeawaysAI can significantly improve supplier selection and risk management.Using AI as a co-pilot rather than an autonomous decision maker is crucial.Automating simple tasks can free up resources for more complex challenges.Choosing the right technology to implement is critical for success.Fixing basic processes is necessary before adopting new technologies.Talent and skills gaps are major impediments to AI adoption in procurement.The future of procurement will heavily rely on AI technologies.Procurement professionals need to focus on relationship management.AI will enable procurement to concentrate on value creation rather than mundane tasks.Chapters00:00 AI's Impact on Procurement02:52 Challenges in Procurement06:06 Risks of AI Implementation08:56 Navigating Change in Procurement12:12 Future Trends in AI and Procurement15:00 Skills and Competencies for the Future17:49 The Evolving Role of Procurement Professionals21:01 Conclusion