AI Reshaping Tender and Grant Evaluations

In the ever evolving world of technology and digital disruption, we see more teams turn to AI tools like ChatGPT to streamline their tender and grant drafting. It's understandable to lean on tools like this when deadlines are becoming more strict, where clients are expecting more in less time. However, once submissions are in - how are teams evaluating these tenders?

Traditionally, tender and grant evaluation processes are managed by gateways and review processes to ensure the assessors are marking without bias. This process usually involves the Evaluation Panel to read hundreds of pages per submission, shortlisting those who are ranked higher according to the marking guidelines. Submissions that may need a second opinion are then provided to other panel members to read and assess. Depending on the length of the submission and number of submissions, the evaluation period can take months. And that's before any sign-offs from management to endorse the outcome.

So what is the potential of AI when it comes to tender and grant evaluations?

There are many ways AI could be harnessed to provide additional support to the Evaluation Panel during crunch-time.

1. Accelerating Decision-Making Processes

One of the primary advantages of integrating AI into tender and grant evaluations is the acceleration of decision-making processes. AI tools can swiftly analyse large volumes of data, identify key patterns, and extract relevant information, significantly reducing the time it takes to evaluate proposals. This not only expedites the decision-making timeline but also allows evaluators to focus on higher-level considerations that require human judgment.

2. Enhancing Objectivity and Consistency

Human biases are inherent in any evaluation process. AI tools can help mitigate these biases by providing a more objective analysis of the submitted proposals. These tools base their evaluations on predefined criteria and do not succumb to emotional or subjective influences, ensuring a fair and consistent assessment for all applicants. This newfound objectivity contributes to greater transparency in the evaluation process, fostering trust among stakeholders.

3. Comparison Data and Insights

Traditional tender and grant evaluations are often done in Microsoft Word or Excel, with commentary and a lack of quantitative marking. This makes it difficult to compare submissions to assess the strengths and weaknesses. AI tools can help mitigate this by creating data dashboards and insights throughout the evaluation process. Evaluators can then regularly refer to this whilst evaluating to ensure consistency and minimise any ambiguities. This data can then be exported and shared to the tenders for transparency and used for continuous improvement.

It won't be too long until AI tools reshape the tender and grant evaluation process. At QwikQuery, we design our AI tools on the latest AI technology specifically for Bid teams so they can win and evaluate their submissions faster. If you're interested in how your company can take advantage of AI in the tender space, sign up to a free trial today!