SIG University Certified Sourcing Professional (CSP) program graduate Aaron Eleazer shares how the advancements of AI technology provide an exciting and innovative space that has an important place in how business is done and improved upon and also shares the concerns associated with it.
Artificial Intelligence was quite an exciting presentation. It’s such a big part of our daily lives that I wanted to write my final paper on the subject and hopefully bring a different light to it. I want to write a few paragraphs on the pros and dangers of artificial intelligence. I say threats instead of cons because this technology is moving so fast; not even the creators of it have any idea what could happen.
The first SIG conference I attended was back in 2018 in Washington, D.C., and what I found intriguing was that the focus of all the speakers was on Blockchain and AI. I didn’t know much about either, but soon thereafter, my director started talking about AI capabilities in contracting. AI or machine learning is excellent for running mundane tasks like searching for specific contract clauses.
Quickly identifying or comparing two legal documents for similarities or contrasting clauses is a tremendous step forward in the evolution of process improvement, effectiveness, and efficiency. This same technology is used in invoice processing, where it can read, analytics, and process submitted invoices quickly, which eventually means the end or a considerable reduction in the resources needed from a BPO for that specific service which the AP function lends itself well to.
Aaron Eleazer, Manager Procurement Services, Russell Investments