Generative AI, exemplified by innovations like ChatGPT, is poised to redefine procurement processes, offering cost-saving opportunities and strategic advantages. In a world marked by uncertainty, the instantaneous access to precise information is paramount for effective risk management and decision-making in procurement. Gen AI presents an array of opportunities to bolster various facets of the procurement landscape, including the source-to-pay process and proactive risk management. In today’s increasingly unpredictable business environment, the ability to access precise information in real-time is pivotal for risk mitigation and robust decision-making in procurement. Generative AI offers the potential to automate critical “create” processes within source-to-pay, encompassing the generation of essential documents (such as requests, charters, and contracts) and the execution of transactions (including purchase orders and invoices). This research seeks to comprehensively analyze Gen AI’s profound impact on procurement. By examining the drivers and barriers of Gen AI adoption, as well as its benefits and risks, we aim to unveil the full spectrum of opportunities and challenges associated with integrating this transformative technology into procurement practices.