Three ways GenAI is supercharging supply chains

illuminem summarizes for you the essential news of the day. Read the full piece on Forbes or enjoy below:

🗞️ Driving the news: Generative AI (GenAI) is enhancing supply chain management by automating time-consuming tasks, speeding up data analysis, and improving research capabilities
• These advancements help organizations tackle increased complexity and disruptions in global supply chains

🔭 The context: As supply chains grow more intricate and fragile due to geopolitical, climate, and financial challenges, the need for efficient data management has become critical
• GenAI can analyze vast amounts of data, aiding in decision-making and operational efficiency

🌍 Why it matters for the planet: GenAI supports sustainable supply chain practices by helping organizations mitigate risks and improve regulatory compliance
• This can lead to more resilient and environmentally friendly supply chains

⏭️ What's next: As GenAI technology evolves, it will further enhance supply chain agility, helping businesses predict and respond to disruptions
• Organizations are encouraged to start integrating GenAI now to future-proof their operations

💬 One quote: "GenAI can quickly create category market intelligence reports summarizing a broad set of relevant factors, recommending coping strategies including potential new suppliers." - Alex Saric, Chief Marketing Officer at Ivalua

📈 One stat: Supply chain costs have increased by up to 250% following recent geopolitical disruptions in the Red Sea

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