P&SC LIVE Singapore: Gen AI-Powered Enterprise Clouds
Presenting at Procurement & Supply Chain LIVE Singapore, Vijay Tanjore Mohankumar, Global Director of Sourcing and Procurement at NVIDIA, detailed how to navigate the next frontier in technology procurement.
AI: A rapidly growing sector
Vijay began his discussion by outlining the scale of AI, describing that it is set to be a US$407bn marketplace by 2027, despite being worth only US$87bn in 2022.
"It's almost going to quadruple in the next five years," he said. "In the US they are estimating a 21% net increase to the GDP by 2030 due to AI."
He stressed the importance for businesses to get ahead and harness the tool, adding: "Some people see AI as temporary, but I think it is here to stay."
How can AI help businesses?
One high-level use for AI is predictive analysis, as Vijay explained: “This is like analysing large data sets to derive insights from a lot of fields. It can be used for medical diagnosis, financial and analysis, forecasting and supply and demand planning.”
Another possible application of AI which Vijay outlined at the event is across customer experience.
He said: “Enterprises across the globe are trying to transition clients from the customer experience to more enhanced versions like stackable chatbots, natural language processing and translation services. These are all based on AI workflows at the backend productivity and process automation.
"I think this is one of those low-hanging fruits where you can streamline business processes to improve efficiency, for example through summarising meetings or email stock wins."
Though these cases can provide beneficial examples, it's important for procurement professionals not to fall into case traps.
He described that, at NVIDIA, the preventative solution to these case traps is “always data, data, data."
Vijay continued: "I think the data that NVIDIA has within a platform and its infrastructure establishes us as a frontrunner in terms of the AI infrastructure, resulting in our advanced computing resources such as Touch 100 and GBE 200."
The building blocks of AI deployment
Vijay went on to explain why investing in a robust data platform and establishing strong governance controls is vital to ensure data privacy and security, especially when working with AI.
“The biggest thing I consider is building your knowledge capital," he added. "So, there are many versions of a deployment, but if you're going native with your captive unit, you need to make sure they grow well and have the ability to understand new technology.”
This includes training in data science, AI, machine learning architecture and the relevant tools and systems. By prioritising these elements, organisations can effectively harness the power of AI while maintaining data integrity and fostering continuous growth within their teams.
In addition to deployment methods, Vijay went on to discuss native integration, third-party extensions, licensing models and security risks.
To hear more insightful discussions like this, secure your tickets to Procurement & Supply Chain LIVE London here.
P&SC LIVE continues to expand
Procurement & Supply Chain LIVE continues to expand its repertoire of events, with more to come in 2024 and 2025. Discover our essential diary dates below.
2024 diary dates:
- Procurement & Supply Chain LIVE London | 24-25 September 2024
- Procurement & Supply Chain Awards | 24 September 2024
- Manufacturing & Mobility LIVE | 6 November 2024
2025 diary dates:
- Procurement & Supply Chain LIVE Singapore | 11 February 2025
- Procurement & Supply Chain LIVE: Scope 3 | 5-6 March 2025
- Manufacturing & Mobility LIVE | 5-6 March 2025
- Procurement & Supply Chain LIVE Dubai | 29 April 2025
- Procurement & Supply Chain LIVE Chicago | 4-5 June 2025
- Procurement & Supply Chain LIVE London | 23-24 September 2025
- Procurement & Supply Chain Awards | 24 September 2025
- Manufacturing & Mobility LIVE Chicago | 4 November 2025
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