Do not be afraid of new technologies

Do not be afraid of new technologies

Let's clean up with all these big terms and call a spade a spade! In this whitepaper we give simple explanations for wide-spread terms and abbrevations in procurement controlling. What does AI stand for? What does a "Data Scientist" do all day at work? What can my company's procurement department achieve with Material Clustering and Process Mining?



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For example, AI stands for Artificial Intelligence. AI is a branch of computer science/informatics which deals with the automation of intelligent procedures. The term AI is yet to be clearly defined, as there already is a lack of a precise definition of intelligence. Nevertheless, AI is often used in research and development (R&D). In general, AI describes the attempt to emulate human-like intelligence. In other words, to program a computer in order to solve problems independently.