P&SC LIVE Singapore: AI-Powered Enterprise Clouds
At Procurement & Supply Chain LIVE Singapore, Vijay Tanjore Mohankumar, NVIDIA's Global Director of Sourcing and Procurement, discussed how to navigate the next frontier in technology procurement.
AI: A rapidly growing sector
Vijay began by outlining AI's scale, predicting it will become a $407bn market by 2027, up from $87bn in 2022.
"It's almost going to quadruple in the next five years," he noted. "In the US, they are estimating a 21% net increase in GDP by 2030 due to AI."
He stressed the importance of businesses getting ahead to harness AI's potential. "Some people see AI as temporary, but I think it is here to stay."
How AI can benefit businesses
One high-level use for AI is predictive analysis. Vijay explained: “This involves analysing large data sets to derive insights. It can be used for medical diagnosis, financial analysis, forecasting, and supply and demand planning.”
Another application is in customer experience. Enterprises are transitioning clients to more enhanced versions of customer service using stackable chatbots, natural language processing, and translation services, all based on AI workflows.
"I think this is one of those low-hanging fruits where you can streamline business processes to improve efficiency, for example, through summarising meetings or email stock wins," Vijay added.
He also highlighted the importance of data in avoiding common pitfalls in procurement.
At NVIDIA, the focus is on "always data, data, data." Their platform and infrastructure establish them as a frontrunner in AI, with advanced computing resources like Touch 100 and GBE 200.
The building blocks of AI deployment
Vijay stressed the importance of investing in a robust data platform and establishing strong governance controls to ensure data privacy and security, especially when working with AI.
“The biggest thing I consider is building your knowledge capital," he said. This includes training in data science, AI, machine learning architecture, and relevant tools and systems.
By prioritising these elements, organisations can effectively harness AI's power while maintaining data integrity and fostering continuous growth within their teams.
Vijay also discussed deployment methods, native integration, third-party extensions, licensing models, and security risks.
For more insightful discussions like this, secure your tickets to Procurement & Supply Chain LIVE London.
P&SC LIVE continues to expand
Procurement & Supply Chain LIVE continues to expand its repertoire of events, with more to come in 2024 and 2025. Discover our essential diary dates below.
2024 diary dates:
- Procurement & Supply Chain LIVE London | 24-25 September 2024
- Procurement & Supply Chain Awards | 24 September 2024
- Manufacturing & Mobility LIVE | 6 November 2024
2025 diary dates:
- Procurement & Supply Chain LIVE Singapore | 11 February 2025
- Procurement & Supply Chain LIVE: Scope 3 | 5-6 March 2025
- Manufacturing & Mobility LIVE | 5-6 March 2025
- Procurement & Supply Chain LIVE Dubai | 29 April 2025
- Procurement & Supply Chain LIVE Chicago | 4-5 June 2025
- Procurement & Supply Chain LIVE London | 23-24 September 2025
- Procurement & Supply Chain Awards | 24 September 2025
- Manufacturing & Mobility LIVE Chicago | 4 November 2025
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