AI Is Revolutionizing the RFP

Author(s): Steve Jeffery

Artificial intelligence (AI) is revolutionizing the request for proposal (RFP) process for both buyers and sellers, but human intervention is still required to ensure accuracy and quality. AI can streamline the RFP process for the buyer by generating requirements, templates, and pricing matrices from various internal and external sources and shortlisting and scoring vendor responses based on predefined criteria. For the seller, AI can assist in deciding whether to bid or not, in creating draft responses from knowledge libraries, in matching the buyer's tone and language, and in predicting the competition's responses and the seller's likelihood of success.

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