TRENDING
Tracy Bolton at SAP Africa
In 2024 , business leaders will look beyond the hype and seek AI solutions that deliver real-life use cases and benefits . At an operational level , organisations may quickly realise that the quality of their AI outcomes depend largely on the quality of their data .
Technology providers will be indispensable in this conversation , thanks to the huge volumes of data and transactions running through their systems and broader business network . Business leaders will leverage the technology providers ’ expertise to access the data they need , visualise it , and take decisive actions to drive successful outcomes .
Sustainability centre stage
As the world continues to warm and the consequences of climate change hit home for billions of people , sustainability will take centre stage in the business and technology world .
In 2024 , the energy industry will shed its view of the customer as simply a commodity user in favour of the prosumer model . Industry leaders will aim to not only secure loyalty and create retail-like experiences , but encourage users to make active contributions to the stability and health of the grid .
This may involve keeping customers informed of how they can make the best , most sustainable decisions over energy use , or see consumers feed excess energy , for example from rooftop solar , into the grid to stabilise supply and contribute clean energy .
In addition , mounting pressure from regulators , consumers and investors will see organisations build more sustainable supply chains with lower carbon emissions and greater use of circular economy principles . This will require extensive innovation in data and analytics to provide business leaders with end-toend visibility over their environmental impact across the broader supply chain .
Those companies that do succeed in leveraging technology to build truly eco-conscious supply chains will not only unlock new sources of innovation and revenue , but secure long-term profitability for years to come .
Procurement advances
In the rush for digitalisation , enterprises will continue to enhance their procurement processes , driving the need for more intuitive user interfaces . Procurement is evolving from a tactical to a strategic function to drive greater value throughout the organisation .
AI and analytics will be deployed to support procurement professionals as they seek ways to spend more time on value-adding tasks . In 2024 , the demand for technologies that enable value-based procurement will increase , enhancing the organisation ’ s ability to leverage procurement to deliver value in other parts of the business , such as sustainability .
Resilient supply chains
Global supply chains are still under severe pressure , thanks to a combination of geopolitical disruption , inflation , environmental factors and the ongoing ripple effects of the pandemic . In 2024 , expect a surge in supply chain technology investments as organisations seek greater visibility , agility and risk resilience .
In particular , AI holds huge promise for its ability to enhance organisations ’ ability to sense , recognise and react to disruptions and opportunities in new and exciting ways . The key to unlocking AI ’ s benefits hinges on connected data and collaboration throughout the organisation .
Business leaders must lead the charge by ensuring AI is integrated with every layer of the supply chain network to achieve measurable business outcomes . This will unleash a new era of hyper-predictive and efficient logistics , revolutionising the way goods flow from factory floor to consumers . p
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