Technological capabilities are changing fast. While it can sometimes sound like a cliché, there are tasks which can be aided by robots now that can massively expand our knowledge and remove what previously would have been many hours of administrative work.In this show, we dig into what artificial intelligence (AI) can do to aid sourcing and buying teams, and how machine learning and cognitive buying can expand our knowledge of the supply base, as well as removing many hours of work from the source-to-PO process.Game Changing AI – Benoit Larrieu from Silex3:18What actually is AI and what is the difference between AI and machine learning?6:20Benoit walks through a couple of practical examples of how a tool such as Silex can help procurement departments work more effectively by analysing the market's capabilities as well as all internal data on the incumbent supply base.10:17How "clustering" can enable sourcing teams to find potential suppliers on the market for specific items or components, in cases where a buyer may not have the necessary knowledge of the marketplace.14:22Benoit explains how Silex gathers market intelligence on so many different suppliers out there, enabling them to do the heavy lifting on behalf of the buyer.15:53We discuss how a tool such as this is not only used to derive greater savings. The real advantage is often seen as the ability to have greater market intelligence and a better synposis of the supply base in all countries.18:34How an AI-driven tool together with the human ability to think and evaluate effectively can be a killer combination when fuelling sourcing decisions.The consideration of total landed costs, coupled with the robot-powered intelligence of who can supply what in which country / region.21:01Using AI to serve both larger corporate clients as well as smaller businesses, and how it could potentially benefit both depending on the project and objectives.22:48How Silex can be used as a stand-alone tool with individual modules in the cloud, or can be integrated into customers' ERP systems.25:51What's next for Silex and how they plan to scale and grow their offering.How to connect with Benoit:Benoit's LinkedIn profileSilex websiteHow to connect with James:James Meads Consulting websiteJames' LinkedIn profileBook a Call with JamesFollow The Procuretech Podcast on LinkedIn