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Emerging Technologies and Acquisition: How Blockchain, RPA, Data Analytics, and AI are Enabling Federal Procurement Transformation

 

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Abstract

ACT-IAC White Paper: Emerging Technologies and Acquisition: How Blockchain, RPA, Data Analytics, and AI are Enabling Federal Procurement Transformation
Developed by the Emerging Technology Community of Interest and the Acquisition Community of Interest
Released: April 26, 2021

One of the major drivers of procurement reforms in recent times has been the advent of technology in the federal acquisition process. From being an enabler to becoming a key driver of procurement’s strategic transformation ― technology is allowing procurement organizations to demonstrate true transformative effects across the federal government. With technology, procurement will no longer be just a purchasing or sourcing function, but instead transform into playing the role of an innovator, integrator, and collaborator, impacting agencies in myriad ways and driving overall performance for government IT management.

New and emerging technologies such as blockchain, robotic process automation (RPA), artificial intelligence (AI), and big data can help procurement find new avenues to transform, and in the process, drive greater spending visibility, increased compliance, enhanced accuracy, as well as achieve significant cost savings. As digital procurement and procurement transformation gain momentum, procurement organizations must identify and implement the right technology that will bring the desired value. This paper will look at the various technologies being implemented throughout procurement organizations across the federal government today.

 

Document Date: 
Apr 26, 2021
 
Author (organization): 
ACT-IAC Acquisition COI and Emerging Technology COI
 
Document type: 
ACT-IAC Report
 
Interests: 
Acquisition
Emerging Technology