G42 Boosts Procurement Efficiency By 40% With Innovative AI Tool From Inception

G42, a technology group based in Abu Dhabi, has launched a new AI-driven procurement tool through its company, Inception. This platform, named (In)Business Procurement, aims to enhance efficiency by reducing sourcing and contract cycles by up to 40%. It facilitates quicker decision-making and sets a benchmark for operational efficiency. G42 is pioneering the use of AI in enterprise procurement within Abu Dhabi, transforming organisational operations.

The platform offers modules like supplier discovery, autonomous sourcing, contract intelligence, and spend analytics. It acts as an adaptable AI hub that integrates with existing systems. This transformation turns procurement into a data-centric function. "With this solution, we’ve reduced our average turnaround time from three months to ten days," stated Dr. Asif Ashraf, Vice President of Group Supply Chain at G42.

Dr. Ashraf emphasised that the tool not only speeds up processes but also improves risk management and supplier compliance. It enhances visibility across spending categories. The launch signifies a significant advancement in procurement, aligning with the UAE’s vision for integrating AI technologies into corporate operations.

Cost Savings and Real-Time Analytics

Supported by advanced language models like GPT-4o and Llama, the platform promises 7–10% cost savings through AI-enabled sourcing. It accelerates supplier discovery threefold and ensures over 90% compliance in contract management. Procurement leaders gain comprehensive visibility and real-time analytics for informed decision-making.

Maria Sanchez, Senior Vice President of Delivery at Inception, remarked on the broader goal: "This is just one of many AI-native enterprise solutions in our pipeline." She highlighted their aim to democratise AI across departments by intelligently enhancing workflows within a secure cloud-native environment.

Commitment to AI Integration

The initiative underscores G42 and Inception’s dedication to transforming AI from an aspirational concept into practical infrastructure. Their ‘Intelligence Grid’ ambition focuses on building smarter institutions and leaner operations for faster economic growth. The platform's capabilities include conversational AI, supplier scoring, contract search, multilingual support, and risk forecasting.

This development marks a pivotal step towards integrating advanced technologies into business processes in the UAE. By leveraging AI tools like (In)Business Procurement, organisations can achieve greater efficiency and strategic advantage in their operations.

With inputs from WAM