Lior Delgo

Lior Delgo

Co-Founder and President at Globality

Lior Delgo, Co-Founder and President at Globality discusses the exciting future of AI in procurement technology

Please introduce your role 

At Globality we automate the world's sourcing by making it easy, autonomous, and intelligent. 

My role is to bring together the best team in the world, and work relentlessly to ensure that our vision becomes a reality. My ultimate aim is to grow Globality into one of the largest technology companies in the world.   

How did your career path lead you to Globality? 

I am a serial entrepreneur, and Globality is my third and most ambitious startup. 

My first company, Farechase, was acquired by Yahoo, and my second venture, Videosurf, was acquired by Microsoft. 

Throughout my professional life, I have been driven by a passion for building transformative technologies with exceptional teams and investors who share a similar passion. 

We have invested years in training models to ensureour AI can deliver substantial value to enterprises when sourcing billions of dollars through our product. 

We have pushed the boundaries of science to reach where we are today. Trade is a driving force that empowers the world. The wide array of purchases we enable on our platform have a significant impact on the world at large.

How crucial is generative AI to procurement? 

Generative AI is a game changer for every industry, particularly for indirect procurement, where its impact is unique. 

First, a sourcing event inherently involves language-based elements such as descriptions, contextual information, objectives, and requirements. 

To automate sourcing and facilitate seamless trade, it becomes crucial to enable machines to comprehend users' purchasing needs and identify the skills and capabilities required for sourcing event requests. 

Without a deep understanding of natural language and how it aligns with suppliers' offerings, automated sourcing would not be possible.

Additionally, an interactive dialogue chatbot with advanced intelligence is necessary to guide users and provide domain-specific expertise for traded goods and services. The chatbot must possess human-like capabilities and deep intelligence to conduct interviews with users, guide them throughout the journey, and address any questions they may have.

What are the most exciting developments in procurement? 

The exciting developments will come from two factors: 

  • Unique data that can be used in conjunction with AI advancements
  • Intuitive user experiences using a chat interface to transform enterprise workflows, making them self-service

This year feels like a tipping point for this exciting journey. Innovation is nonlinear, and the pace of adoption we are currently witnessing is exponential.

What is your plan for the next 12-18 months? 

We are committed to delivering more personalised, insightful, and automated experiences throughout the user journey. The biggest anticipated change will be the widespread awareness and acceptance of AI technology as a real and impactful force in our lives. 

This milestone is generating excitement and demand for AI-powered solutions, particularly in enterprise automation, driven by the need for cost reduction due to macroeconomic factors. I believe we have only scratched the surface of what is possible, making the most exciting developments lie beyond our imagination.

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