Procurement in the Metaverse – Clive R. Heal from Lavenir.ai

The Procurement Software Podcast

In this week's episode of The Procuretech Podcast, Clive Heal, CEO of LavenirAI is my guest. Clive is here to introduce a cool new startup idea he's been working on, as well as sharing his thoughts on the current digital procurement landscape.

Procurement and the Metaverse – Clive Heal from LavenirAI

Timestamps:

2:36 How did Clive get started in the industry?

• From R&D to sales and marketing
• Lavenir AI, his startup, uses AI and virtual avatars for ongoing negotiation training.

7:02 What is the metaverse? And what is the procurement metaverse?

• What the metaverse is, and how it works.
• What the procurement metaverse will be like.
• Clive's prediction that all procuretech will have an existence in the metaverse.
• The metaverse is being developed on both consumer and commercial sides.

11:45 The benefits of the VR world.

• VR is just one example of the metaverse from a procurement perspective.
• The future of VR, and how it will change the world.
• Adoption of the metaverse on the consumer and the socialising side.
• The future of procurement, sourcing, contract management and risk assessments in a world of VR and the metaverse.

18:10 Innovation adoption and the innovation gap.

• Innovation chasm between innovators and early adopters.
• Procurement people tend to be risk adverse.
• Technology is a great catalyst for change.
• Procurement can often feel ultra-conservative.

22:54 Taking the example of the introduction of the cell phone

• The first cell phone and the first laptop.
• How technology changes over time.

24:45 Will AI ever take over from human negotiators?

• Lavenir.AI touches on negotiation and negotiation training.
• Will AI take over from humans?
• Factors to consider when negotiating with alternative suppliers.
• AI is about first insight.

29:06 The opportunity to create value in new ways.

• AI creates the opportunity to create value in new ways.
• Negotiation training is an ongoing process.
• The difference between theory and practice in the sales process.
• The future of the sales avatar.

And that wraps up another episode of the Procuretech Podcast. Thanks to Clive for sharing his thoughts with us today, and big thanks to you for listening. We'll be back at the same time next week, so see you there! If you want to learn more about Clive, Lavenir.ai, or Procurement Software, check out the useful links below.

Stay in touch!

• Connect with Clive on LinkedIn
• Check out Lavenir.ai
• Download our Tech Map for Enterprise
• Download our Tech Map for Mid-Market
• Download our Tech Map for SMEs
• Find your perfect procurement tech solution in our Software Finder app
• Sign up for the Procurement Software Newsletter
• Book an Intro Call and let’s talk all things Digital Procurement!
• Connect with James on LinkedIn