Original Articles
Contract managers working with Artificial Intelligence
By Harold Salas 8-23-23
The following article was written for the National Contract Managers Association Los Angeles South Bay.
Click here for more information about this organization.
Contract managers are critical to any industry. Working with Artificial Intelligence adds further value and here is why this will be the case.
Contract managers are responsible for ensuring that government regulations are enforced within their companies operation. Confidentiality associated with proprietary technologies need to be protected and procedures have to be followed.
As noted in my previous article titled “AI and Contract Management,” There is a type of AI called “On Premise AI” that can serve as an exclusive internal resource with no access to the web. As this resource is trained it learns and can be useful in providing support to all personnel like contract managers.
Examples of how AI can help in these areas are listed:
Contract managers also must determine if the cost of any good or service acquired by an outside source is the best available. A widget may cost $5 dollars, but… Is the same quality widget available somewhere else and for less? Note that would require the use of an outside AI Like ChaptGPT, Bard or Perplexity. You would request that the AI analyze the web and find a similar item by doing what is called a prompt (or list of instructions) like this one:
To become even more efficient, you can use all three AI resources and compare the results.
AI is here to stay. To maintain relevance in your role it is incumbent for those in this industry to become familiar and embrace the potential of this invaluable resource. The future is here and your role became more significant than ever.
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By Harold Salas 8-23-23
The following article was written for the National Contract Managers Association Los Angeles South Bay.
Click here for more information about this organization.
Contract managers are critical to any industry. Working with Artificial Intelligence adds further value and here is why this will be the case.
Contract managers are responsible for ensuring that government regulations are enforced within their companies operation. Confidentiality associated with proprietary technologies need to be protected and procedures have to be followed.
As noted in my previous article titled “AI and Contract Management,” There is a type of AI called “On Premise AI” that can serve as an exclusive internal resource with no access to the web. As this resource is trained it learns and can be useful in providing support to all personnel like contract managers.
Examples of how AI can help in these areas are listed:
- When processing a purchase agreement AI can review the contract to ensure that the companies interest are protected based on the internal overall knowledge available to the AI. AI can use provided judicial knowledge and determine if any liability may occur and in what manner based on the format of the agreement. This allows the Contract manager to review the risks to see if the terms are acceptable in the wording and AI can provide several alternate forms of wording to restore confidence in the proposed contract if necessary.
- AI would have access to patents and copy right material of a company and it would have access to legal information to determine if any compromise appears in the patent or copyright as referenced in the agreement.
- AI would have knowledge of and ensure that information provided to the other party falls within the guidelines of FAR (Federal Acquisition Regulation) and DFAR (Defense Federal Acquisition Regulation). To ensure no violations will occur.
- AI could act as an assistant to help expedite the processing of an order by following the instructions you've given it and notifying other departments to complete their part of the work process. Communication between individuals only has to happen when something outside the established guidelines requires it.
Contract managers also must determine if the cost of any good or service acquired by an outside source is the best available. A widget may cost $5 dollars, but… Is the same quality widget available somewhere else and for less? Note that would require the use of an outside AI Like ChaptGPT, Bard or Perplexity. You would request that the AI analyze the web and find a similar item by doing what is called a prompt (or list of instructions) like this one:
- Find me a widget based on the following specifications provided by the following site…http://www.widgetforsale.com... I want to know:
- The price of the product with other sources
- Quality of the product with other sources
- Independent reviews on these sources
- Company background
- Historic turnaround time from the time of the purchase to the products delivery by each source
- Common Method of shipment
- Provide links to such sources
- Produce up to 4 sources and rate them from a scale of 1-10 based on the parameters shown with an overall score of between 1 to 10
To become even more efficient, you can use all three AI resources and compare the results.
AI is here to stay. To maintain relevance in your role it is incumbent for those in this industry to become familiar and embrace the potential of this invaluable resource. The future is here and your role became more significant than ever.
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AI and Contract Management
By Harold Salas
The following article was written for the National Contract Managers Association Los Angeles South Bay.
Click here for more information about this organization.
The future of contract management (as a field of work) in defense, aerospace, and commercial industries is expected to grow and quickly evolve because of new technologies and capabilities.
The use of Artificial Intelligence (AI), machine learning, and other advanced technologies are also expected to give companies an edge in defense, aerospace, and commercial industries. These technologies can help companies improve efficiency, reduce costs, and enhance decision-making capabilities.
The contract manager will see the benefit of AI to help ensure regulatory compliance, intellectual protection and expedite the approval process.
At present the introduction of AI's such as BARD and ChatGPT and others, present a whole new playing field in our technological evolution. Such resources are good for general purposes, but are a threat to the integrity of an operation. Security and intellectual protection are some of the key concerns of the day.
With that in mind, few in the general public realize that there is another type of AI. This type of AI is called "On-Premise AI" or "On-Premises AI." On-premise AI refers to artificial intelligence software that is deployed and operated locally, within the organization's own infrastructure, without relying on internet connectivity.
This allows the AI system to function independently and securely within the operational environment. It offers organizations greater control over their data and can be particularly beneficial in industries where data privacy and security are of utmost importance, such as defense, aerospace, and other sensitive sectors.
The contract manager will see a future of greater refinement in their roles as their positions evolve with the help of AI. Your company may already have On-Premises AI. Check with your IT department. Demonstrate interest in this subject to further enhance your role and a competitive spirit to stay ahead of the curve. It’s time to invest effort and learn more about Artificial Intelligence via articles and YouTube videos. Develop prompt instructions (as practiced by Prompt Engineers) to produce solutions that will grow your company and career.
It's time to think outside the box.
####
By Harold Salas
The following article was written for the National Contract Managers Association Los Angeles South Bay.
Click here for more information about this organization.
The future of contract management (as a field of work) in defense, aerospace, and commercial industries is expected to grow and quickly evolve because of new technologies and capabilities.
The use of Artificial Intelligence (AI), machine learning, and other advanced technologies are also expected to give companies an edge in defense, aerospace, and commercial industries. These technologies can help companies improve efficiency, reduce costs, and enhance decision-making capabilities.
The contract manager will see the benefit of AI to help ensure regulatory compliance, intellectual protection and expedite the approval process.
At present the introduction of AI's such as BARD and ChatGPT and others, present a whole new playing field in our technological evolution. Such resources are good for general purposes, but are a threat to the integrity of an operation. Security and intellectual protection are some of the key concerns of the day.
With that in mind, few in the general public realize that there is another type of AI. This type of AI is called "On-Premise AI" or "On-Premises AI." On-premise AI refers to artificial intelligence software that is deployed and operated locally, within the organization's own infrastructure, without relying on internet connectivity.
This allows the AI system to function independently and securely within the operational environment. It offers organizations greater control over their data and can be particularly beneficial in industries where data privacy and security are of utmost importance, such as defense, aerospace, and other sensitive sectors.
The contract manager will see a future of greater refinement in their roles as their positions evolve with the help of AI. Your company may already have On-Premises AI. Check with your IT department. Demonstrate interest in this subject to further enhance your role and a competitive spirit to stay ahead of the curve. It’s time to invest effort and learn more about Artificial Intelligence via articles and YouTube videos. Develop prompt instructions (as practiced by Prompt Engineers) to produce solutions that will grow your company and career.
It's time to think outside the box.
####