Supply chains and product procurement are greatly enhanced through AI

New technological advances brought by digital transformation, artificial intelligence (AI), and robotization are here to stay in both business and procurement management applications. One example of this is the way in which this technological advancement has been able to change corporate practices, particularly in the area of procurement, by adding a more collaborative approach to supplier relationships. It is well known that in the iGaming market, procurement processes must be efficient, which is why operators are increasingly relying on AI.

Today, the applicability of functions that ensure efficiency and performance improvement in supplier relationships is proven. iGaming operators use AI to optimize usability/user experience. We are talking about using AI to automate tasks that bring little value to corporate processes. That leads to unnecessary employee occupation, thus freeing up purchasing teams to concentrate on other activities that bring higher performance for online casinos.

It is known that one of the main challenges faced by purchasing professionals is spend analysis. If an online casino has the ability to manage risk and optimize its purchasing power, it can easily increase its results. However, volatility in the economy makes this a difficult task. AI allows the procurement software to track and study in-depth transaction data of all purchases made and have a more concrete assessment of user patterns.

Another way in which AI can be leveraged in this area of the iGaming industry is through supplier risk management. Through AI, operators can quickly and efficiently detect sudden changes with a specific supplier and assess whether this change reduces or increases risk. To do so, the technology tracks all supplier risk factors immediately while monitoring numerous sources of new and emerging risks.