$4.4 trillion – that’s how much a new McKinsey report predicts Generative AI will add to the global GDP each year. To put this number into perspective – India’s 2022 GDP was just over...
Year: 2024
Key considerations for evaluating vendor contracts involving AI
Introduction The prolific use of artificial intelligence (“AI”) to increase efficiency, optimize processes, and identify novel solutions has many businesses turning to third-party...
Companies turn to AI contract tools to reduce external risks
Dive Brief: Nearly half of companies (48%) say their enterprise risk is rising, with a growing reliance on third-party relationships contributing to much of that higher risk,...
The rise of smart contracts and strategies for mitigating cyber and legal risks
Imagine a world where contracts are executed seamlessly without human intervention, reducing costs and enhancing efficiency across industries – from finance to real estate. This is...
Can AI take the strain when it comes to contract management?
Good practice contract management (CM) in line with the government framework requires knowledge, know-how, experience, and a whole range of soft skills. Professional CM resources are...
Supply chain risks hiding in plain sight?
Most companies are leaving themselves wide open to supply chain risks. Many are simply scanning for potential crises, i.e., doing nothing. Others are planning for potential...
The importance of contract management in higher ducation
Do you know that contract management in higher education is integral to running a thriving institution? It’s not just about signing agreements and keeping them on file. It’s about...
Short Story: The Weight of Unshared Accountability
In the bustling city of Eldoria, a renowned tech startup, Innovatech, prided itself on its cutting-edge products and dynamic workplace culture. At the helm was its charismatic CEO,...
Practical use cases for genAI in contract management
Generative artificial intelligence (genAI) is not just a tool; it’s a transformative force impacting many, if not most, industries with its advanced data generation and optimization...
Unlocking best practice for procurement management
What is procurement management best practice? Procurement management refers to the strategic organisation of a business’ spend, which includes the purchasing of goods and services up...