The EY white paper highlights how generative AI is transforming procurement by automating tasks like sourcing, contracting, and supplier management. GenAI boosts efficiency, enhances insights, and reduces risks in document-heavy processes. Successful deployment requires cloud integration, secure data, and strong collaboration between CPOs and CIOs. Use cases include smart contracting, invoice resolution, and supplier monitoring. To fully benefit, leaders must align GenAI applications with goals, manage workforce shifts, and adopt ethical practices—unlocking innovation and a competitive edge in procurement.

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