A collaborative effort!
After several months of collaboration, our University of Bath School of Management project group (Group 11) presented their research into the role AI could play across public procurement. This was chosen as AI has become prevalent across all industries, and its impact on public procurement should be carefully analysed. With many bidders already adopting AI into their processes, it is important to understand both the opportunities and risks it presents.
BidCraft challenged Group 11 to explore an important topic. It related to identify areas in the public procurement landscape where AI can have the most impact, both positively and negatively. The team approached the task with curiosity and a fresh perspective and delivered insights that will not only help inform our own business practices and functionality but also for the holistic procurement process.
Key takeaways
The group’s findings were split into high, medium, and low-risk areas for AI integration, alongside a horizon scan exploring the future expansion of AI across the procurement sector. While we’ll keep some of the more detailed findings under wraps for now as we begin actioning some of their recommendations, it was a clear reiteration to take care when implementing AI, if the business doesn’t have outlined policies and principles to guide users. Group 11 saw significant opportunities to strengthen BidCraft’s products with AI best practices.
The project was really rewarding in the information gathered but also to see students learn and get excited about bidding. This collaborative effort started in May, with several sessions of sharing our expertise and experiences to help guide their research. In return, they provided valuable independent analysis that offered new ways of thinking about the role of AI within procurement.
It was particularly rewarding seeing academic research and industry expertise come together to tackle real-world challenges. As AI continues to transform day to day life, it is important that procurement professionals remain proactive in understanding both the opportunities and the risks associated with these technologies.
A valuable collaboration
We would like to thank the students for their hard work, professionalism and enthusiasm throughout the project. Their findings have given us plenty to consider, and we look forward to putting some of their recommendations into practice as we continue our journey towards smarter, more effective procurement.
We wish Group 11 all the very best for the remainder of their Master’s studies and for what we are sure will be bright and successful professional careers.
