Generative AI: Ushering In a New Era of Supplier Equity

Supplier diversity has always been a noble goal, but one that’s hard to achieve — until now.

Generative AI is changing the game for enterprise procurement, tackling some of the most persistent challenges that organizations face.

Companies that lack supplier diversity miss out on opportunities for innovation, bear the risk of single-supplier dependency, and struggle to meet growing environmental, social and governance (ESG) expectations. Even those with active supplier diversity programs can face bandwidth issues, limiting ESG initiatives to a small number of strategic purchases. 

GenAI addresses these gaps head-on, offering a means of creating fairer and more competitive supplier ecosystems at scale. Its impact is more than a matter of hitting diversity targets or checking ESG boxes; it’s about leveling the playing field and creating a more competitive, inclusive supplier ecosystem that drives better outcomes for everyone.

How It Works

GenAI enables procurement teams to discover and connect with previously unknown suppliers, similar to the way in which Google finds the best search results. In this case, though, the AI is trained on the data, poring over event histories in addition to an array of supplier directories and trade databases. The AI highlights those suppliers that align with specific requirements — whether that’s ISO certifications, geographic