rtificial Intelligence (AI) has come a long way over the past two decades, with transformative implications for businesses across the world. AI evolution has moved from machine learning to more elaborate forms such as deep learning, natural language processing and now, generative AI (GenAI). The latter is a subset that can produce content such as texts, images or codes, akin to its human counterparts.

Particularly in industries such as manufacturing, GenAI in supply chain management has provided cost advantages and valuable contributions to revenue growth.

The recent EY CEO Outlook Pulse Survey 2023 on AI points to a trend where businesses are eagerly investing in AI-driven products and services. In planning, AI’s role was evidently seen across supply chain control, digital twins for virtual modeling and streamlining of product development. In sourcing, it facilitates contract management, procurement 4.0 through real-time inventory analysis and risk assessments of vendors.