Intellect Design Arena Launches iGPX: AI-Powered Public Procurement Platform

Intellect Design Arena Limited has announced the launch of iGPX (Government Procurement eXchange), the first-ever purpose-driven and ecosystem-focused open API-based public procurement platform.

Developed in collaboration with eMACH.ai, renowned for its comprehensive open finance platform, iGPX integrates ‘First Principles’ Thinking and Intellect’s GenAI from the Purple Fabric AI platform. It promises enhanced efficiency, deep transparency, unparalleled inclusivity, vigilant compliance, and global sustainability.

According to World Bank analysts, governments worldwide spend an estimated $13 trillion annually on public contracts, with up to a quarter of this amount wasted due to inefficient procurement practices. Addressing this waste could potentially free up between $1 trillion and a staggering $4 trillion annually, fostering green, resilient, and inclusive economic development.

At its core, iGPX incorporates expert AI agents tailored to help governments and public institutions achieve their objectives. Key features include:

• Ensuring the best prices through comprehensive product and service listings, price reasonability algorithms, and demand aggregation.
• Significantly reducing procurement cycle times by up to 95% through over 100 procurement variations, multiple evaluations, and consignee options.
• Implementing tailored procurement rules and transparent bidding practices, supported by unbiased grievance redressal, to promote social and economic inclusivity for local sellers, SMEs, and other communities.

Drawing on Intellect’s six-year experience in managing one of the largest public procurement marketplaces globally, iGPX offers substantial value with its pre-built assets, including 111 APIs and 17 microservices. This capability enables clients to compose their own customised solutions swiftly.

Speaking on the launch, the CEO of iDTC, Debanjan Kumar, said, “Intellect’s launch of iGPX marks a transformative moment in public sector procurement that uniquely derives its growth from all interdependency among all actors in the ecosystem – the Buyers, Sellers, Logistic Providers, Financial Institutions, & others. The World Bank has globally acknowledged the need for the private sector to play a much bigger role in the socially and environmentally responsible development of the planet, as an investor but equally as a source of innovation and expertise. iGPX is the exponent of innovation & expertise in public procurement that empowers governments & public institutions across the globe to achieve sustainable, inclusive, and cost-effective procurement practices globally.”

He also added, “At Intellect, we are committed to driving innovation that enhances operational

efficiencies and fosters a new era of strategic agility and financial stewardship in public administration. iGPX represents our dedication to harnessing cutting-edge AI technologies to deliver measurable impact, enabling governments to navigate evolving regulatory landscapes and achieve significant savings while promoting economic resilience and equitable growth.”

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