The Energy Workforce & Technology Council’s Middle East Supply Chain Committee, led by Max Whisenhunt, DistributionNOW, hosted a session focused on how artificial intelligence (AI) is transforming and shaping the future of procurement in the energy industry.
Costantino Spagnoletti, CEO & Co-Founder of Smartender, shared how increased attention to emissions, digital technologies and geopolitical pressures are changing how the industry procures and manages supply chains.
Opening with an overview of artificial intelligence systems and how they are growing at an exponential pace, Spagnoletti highlighted how AI is causing systems to shifting their learnings.
Spagnoletti asked the audience to consider the huge move towards artificial intelligence and the pressure regarding the energy transition. He pointed out how major companies in the U.S. are changing workflows using AI by predicting what customers are buying before they have done so. In a carbon-neutral and sustainability context, the process becomes a supply chain and procurement issue that optimizes the logistics of moving goods around the world.
He then turned the discussion towards the priorities that procurement is facing, including new and increased scrutiny of carbon-neutral, legislation, pandemic and geopolitical concerns. For energy services, the push for carbon neutrality is beginning to crop up in court cases and government mandates in ways that affect procurement and management of international supply chains. As customers feel pressure from the public and private sector, their suppliers are also forced to alter their procurement methods for compliance.
Spagnoletti concluded the discussion by reminding listeners to “monetize their data” and enhance their decision processes by using artificial intelligence. He also sought to remind listeners that AI is used widely and is not a futuristic, intangible concept. Spagnoletti encouraged companies to start with smaller, targeted areas of procurement that can be trial cases and show the results to management.
If you or your company are interested in connecting with or joining the Council’s Middle East Chapter, contact Council COO Molly Determan.
Maria Suarez, Director Government Affairs, writes about industry-specific policies for the Energy Workforce & Technology Council. Click here to subscribe to the Council’s newsletter, which highlights sector-specific issues, best practices, Council activities and more.