Purchasing and Machine Learning: a path of no return

Purchasing and Machine Learning: a path of no return - By Fabrizio Tassitano

Digital transformation provides an ever-growing list of technologies considered 4.0. These include big data, analytics, business intelligence, cloud computing and machine learning. The latter refers to “machine” learning, which is a set of techniques that integrate the field of Artificial Intelligence and reduce the time needed to create accurate and reliable strategies, in addition to other benefits.

Investments in Machine Learning

It's no surprise to anyone that when you open any social network or streaming service you receive suggestions that are close to your taste, or even products that you've previously researched, you can unlock your phone using just your facial recognition.

The examples mentioned are simple mechanisms based on machine learning that, through IT companies, develop complete solutions for each business based mainly on pattern recognition. Following a global trend, the most varied types of companies are investing in this technology to obtain greater productivity, financial gain and more assertive results.

This market movement is expected to increase even further in the coming years. By 2021, investment in Artificial Intelligence and Machine Learning is expected to grow 46,2% annually, totaling US$52 billion, according to a recent survey by consultancy IDC.

Impacts on the purchasing sector

In the case of the purchasing sector, growth means more space to implement tools and solutions that optimize time spent on manual processes and create a more strategic culture of organizing transactions, managing suppliers, managing risks and, most importantly, analyzing data. The focus is on creating more accurate profiles of customers and even predicting behaviors for more assertive decision-making.

However, for this entire process to be possible, companies must also be concerned with hiring qualified professionals or developing projects that qualify people to deal with new technologies. The country suffers from a lack of qualified people for this segment, for example. According to the 2019 ICT Sector Report by the Brazilian Association of Information and Communication Technology Companies (Brasscom), there is a demand for 70 IT professionals per year, with 46 of those who have graduated. It is essential that purchasing specialists are prepared for the innovations that are spreading at supersonic speeds. And knowledge will make all the difference.

*Fabrizio Tassitano is the Product Director at Mercado Eletrônico

Source: Business Overview

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