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It’s a process that can take time. The acceptance rate for the model’s suggestions can be as low as 1-in-20 when a company first signs on, Zagorin said. But the AI is continually learning by accumulating and analyzing data, and within 60 days, that figure jumps significantly, he said.
By freeing up purchasing teams from needing to analyze the competitiveness of many offers at the same time, it helps to cut down on a perceived bottleneck in the supply chain, Zagorin said.
“The amount of time they need to do that can be irritating to other people in the business,” he said. “It can be perceived in procurement as a bottleneck, or holding up the process while others are trying to move forward. No one wants to be seen as a bottleneck or a hall monitor.”
With AI, they might not anymore.
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