Expert view: Artificial intelligence and intelligent procurement

By Andrew Nichols, Tungsten Analytics lead and head of procurement Cost control has never been higher on the agenda. Accounts teams in pharmaceutical businesses are well acquainted with the need to spend hours completing detailed analysis of extensive data, but what they might not know is that there is an alternative: artificial intelligence. Machine learning has now become a useful tool for tackling cost analysis. Here at Tungsten we are interested in exploring this further, looking at how businesses can be better informed about procurement options using the latest developments in technology. To investigate, we’ve gone into partnership with Goldsmiths University and in April last year established the Tungsten Centre for Intelligent Data Analytics (TCIDA). Led by Mark Bishop, one of the UK’s leading researchers in machine learning, the project…

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