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How Tech Leaders Are Using AI to Solve 10 Procurement Challenges

CIO

Thats why tech leaders need solutions now, not months from now. Thats an eternity in tech terms ; by the time a deal is signed, market conditions may have changed, new competitors emerged, or the solution itself evolved. See also: How AI is empowering tech leaders and transforming procurement. )

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IT pros: One-third of AI projects just for show

CIO

And it’s not just an employee perception issue, says Sriram Nagaswamy, executive vice president for technology at supply chain visibility platform vendor FourKites. Launching AI projects for show can lead to doubts about the technology, even though AI has great potential in supply chain management and other areas, he adds.

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AI & the enterprise: protect your data, protect your enterprise value

CIO

I wrote, “ It may be even more important for the security team to protect and maintain the integrity of proprietary data to generate true, long-term enterprise value. This will require the adoption of new processes and products, many of which will be dependent on well-trained artificial intelligence-based technologies.

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Unlocking the full potential of enterprise AI

CIO

Research from Gartner, for example, shows that approximately 30% of generative AI (GenAI) will not make it past the proof-of-concept phase by the end of 2025, due to factors including poor data quality, inadequate risk controls, and escalating costs. [1] Reliability and security is paramount.

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7 ways gen AI can create more work than it saves

CIO

But a substantial 23% of respondents say the AI has underperformed expectations as models can prove to be unreliable and projects fail to scale. Sometimes it actually creates more work than it saves due to legal and compliance issues, hallucinations, and other issues. It gets beyond what we can manage.”

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AI brings complexity to cybersecurity and fraud

CIO

The 2024 Security Priorities study shows that for 72% of IT and security decision makers, their roles have expanded to accommodate new challenges, with Risk management, Securing AI-enabled technology and emerging technologies being added to their plate. The integration of human expertise in AI development and eployment is critical.

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IT leaders brace for the AI agent management challenge

CIO

What is needed is a single view of all of my AI agents I am building that will give me an alert when performance is poor or there is a security concern. Agentic AI systems require more sophisticated monitoring, security, and governance mechanisms due to their autonomous nature and complex decision-making processes.