GeM uses AI to cut government procurement costs by 8%
Business
The Government e-Marketplace (GeM) is using AI to make government buying smarter, and it's paying off.
Thanks to tools like Price Gap Analysis, GeM has managed to cut public procurement costs by 8%.
The tech spots overpriced items and nudges sellers to bring prices down, making things fairer for everyone.
GeM ranks suppliers and tracks payments
GeM also supports the Make in India push by ranking suppliers based on how much value they add locally; those with more than 50% get top priority.
Its AI even helps draft proposals and check tender quality.
Plus, GeM now tracks payment delays and alerts buyers if there are holdups, showing a real focus on transparency and efficiency.
Talks are ongoing about adding works contracts too, so more changes could be coming soon.