Manama: The Nasser Centre for Science and Technology (NCST), a regional research and development centre in artificial intelligence (AI), announced the successful development and implementation of an AI-powered spending analysis platform at Bapco Refining, a subsidiary of Bapco Energies. This initiative is part of the group's strategy to enhance energy security and sustainability in the Kingdom of Bahrain.
According to Bahrain News Agency, the project is a collaboration aimed at leveraging advanced digital technologies to boost operational efficiency and support data-driven decision-making. This effort contributes to refining the procurement system, enhancing data quality, and strengthening spending governance. Developed by NCST's AI research and development team, the system employs machine learning and advanced analytics to classify procurement data based on the United Nations Standard Products and Services Code (UNSPSC). By analyzing historical records and procurement data, the platform increases classification accuracy, reduces manual tasks, and provides insights that aid strategic planning and spending efficiency.
The smart platform's features include tools for specialists to monitor and analyze spending patterns across various dimensions such as suppliers, categories, administrative units, purchasers, and currencies. It also generates reports to identify opportunities for improving procurement processes' efficiency and effectiveness. Additionally, the system provides an interface for reviewing and updating AI-generated classifications, ensuring data quality and accuracy.
This project underscores NCST's expertise in AI research and development and its capability to design specialized solutions for various sectors in the Kingdom. It also highlights ongoing cooperation with Bapco Refining to utilize smart technologies for digital transformation, operational efficiency, and strengthening the Kingdom's position in innovation and the knowledge-based economy.