ARTIFICIAL INTELLIGENCE (AI) BASED CONTRACTS PROCUREMENT: EXAMINING THE INFLUENCE OF BIG DATA, MACHINE LEARNING, INTERNET OF THINGS, EMPLOYEE SKILLS & RESOURCES AND LEADERSHIP ON PROCUREMENT COST REDUCTION

Abstract

AI is not a single technology but a collection of diverse, powerful technologies that simulate human intelligence and invest in the power of the digital brain. Using AI techniques, big data analytics can be utilized to discover patterns and a wealth of knowledge. Consequently, this study aims to examine the impact of big data, machine learning, personnel, IoT skills, and artificial intelligence in procurement contracts that impact cost savings and improve enterprise performance and productivity by automating previously labor-intensive processes or tasks. One hundred fifty employees from the procurement department of Saudi Organizations were surveyed to collect data. The study's findings demonstrated the importance of big data analytics, the Internet of Things, and digital skills for employees. On the other hand, (machine learning and autonomous driving) had no significant impact on cost reduction.