MONTEGO BAY, St James — President & CEO of Scotia Group Jamaica Limited Audrey Tugwell Henry is excited about how technological conversion, such as artificial intelligence (AI), can be used to enhance the often cumbersome procurement process.

However, she stressed that people will never be totally replaced.

“Today we stand at the precipice of technological revolution that is poised to transform procurement in ways that we’re just beginning to understand. When we think of what artificial intelligence will do to procurement, the future is bright. And don’t worry, because there’s always a place for human interaction,” she said.

Tugwell Henry was delivering the keynote address, Tuesday, on day one of the three-day Office of Public Procurement Policy’s Elevate Procurement Conference being held at the Montego Bay Convention Centre in St James.

In listing some positives of AI she told her audience that it, among other things, “offers unparalleled opportunities for improving how we forecast needs, evaluate, and manage supply chains”.

“As we continue to harness technologies and data analytics with our procurement systems, we are now moving closer to predictive and proactive procurement practices. Just imagine to be able to anticipate market trends and adjust procurement strategies in real time and respond effectively to any economic fluctuations. This level of sophistication in procurement goes well beyond traditional methods, transforming it into a dynamic tool for governance,” Tugwell Henry said.

“By leveraging AI we can automate more routine tasks, reduce errors, and focus our human capital on strategic decision making and relationship building,” she added.

The senior banker also highlighted how the use of AI can free up employees to do other tasks.

“Imagine a system where routine procurements are managed automatically, freeing up you — our talented professionals — to tackle more complex and high impact projects,” she said.

“Ladies and gentlemen, as exciting as these technological advancements sound, it is crucial to recognise that they require the foundation of skilled professionals who can effectively implement and utilise these tools,” she added.

The senior banker encouraged investment in staff training.

“Development is therefore essential if we are to create a workforce for the future of procurement,” she said.

Tugwell Henry also noted that stakeholder engagement and collaboration are crucial if the procurement process is to move forward.

“This component is vital because no matter how advanced our systems and technologies are, our policies will not succeed unless we have broad stakeholder engagement. And so for that reason, I want to commend the Office of Public Procurement and the Ministry of Finance, in broader terms, for putting on this conference,” she said.

Held under the theme ‘Elevate: Innovate, Create’, the conference had more than 500 attendees comprising suppliers of goods, services and works, public procurement oversight institutions, along with international and regional procurement practitioners, among others.

During his address, chief public procurement policy officer Andrei Bennett told the conference that, “if we are to address changing problems we have to be flexible in our thinking.”

“I do not advocate flippant flexibility but rather bold, courageous and thoughtful flexibility that leads to challenging norms and disrupting the status quo where necessary,” he said.

“In the three days of this conference, then, our aim is to open new channels of thinking, exposing knowledge that can help in the analysis of and finding of solutions to a range of products. My expectation is that we will find new inspiration to innovate, to create and to fashion the best public procurement system there ever was. The reality is that Jamaica’s development needs will not be served by slavishly following some of the existing practices. I suspect other systems are also in need of this new energy, so it is time to elevate absolutely quickly,” said Bennett.