Loading...

Unlocking the Potential of Generative AI: NetSuite’s Quest for Clarity

TL;DR

  • AI needs real-world relevance: Businesses seek practical AI applications, not just hype.
  • Text enhancement unveiled: NetSuite’s text enhancement offers valuable AI capabilities to users.
  • Experimentation is key: Embracing AI through controlled testing can unlock its potential.

At SuiteWorld 2023, NetSuite, a leading cloud-based business software provider, unveiled its ambitious plan to integrate generative AI throughout its suite of services. While the company is enthusiastic about the potential of AI, it seems that many of its customers are still searching for the right use cases for this transformative technology.

The generative AI hype cycle

Fraser MacKenzie, CTO at Buster + Punch, a NetSuite customer specializing in home fashion, drew parallels between the current generative AI hype and the early days of blockchain. He highlighted that similar to blockchain, AI seems to be a solution in search of a problem for many businesses. MacKenzie emphasized the need for AI providers, including NetSuite, to focus on demonstrating the tangible value of AI to individual customers.

The search for the AI silver bullet

MacKenzie pointed out that AI has the potential to deliver value across various areas, including customer relationship management (CRM), business intelligence, and case management. However, he stressed that more development and clarity are necessary to convince businesses to embrace AI on a broader scale. Many business leaders are still asking, “What’s the benefit to me? What’s the silver bullet that AI can provide?” 

Brian Chess’s perspective

Brian Chess, SVP AI & Cloud Operations at NetSuite, echoed MacKenzie’s sentiments. He mentioned that many customers are unsure about what they should be doing with AI, especially in contrast to consumer applications like ChatGPT. Executives are grappling with the gap between the hype surrounding AI and the lack of a clear use case within their organizations. Chess proposed the idea of allowing companies to experiment with AI in a controlled environment to discover practical use cases, ultimately fostering innovation in the field.

The importance of playing with AI

Chess emphasized the need for more experimentation with AI, allowing companies to freely explore its capabilities in a controlled setting as a proof of concept. This approach, he argued, could lead to the identification of clear use cases, thereby winning over customers and promoting innovation in the AI space. 

Cohere COO’s take on generative AI

In the SuiteWorld 2023 opening keynote, Cohere COO Martin Kon emphasized the importance of avoiding unnecessary preparation and simply pursuing AI ideas to see if they work. This agile approach, Kon suggested, could accelerate the adoption of AI, drawing parallels to the rapid growth of the cloud market in the late 1990s and early 2000s.

NetSuite’s vision for generative AI integration

NetSuite’s vision for generative AI integration was a central theme at SuiteWorld 2023. The company collaborated with AI developer Cohere and utilized Oracle Cloud Infrastructure (OCI) to embed generative AI across its suite of services. 

Text enhance: A game-changing feature

NetSuite unveiled Text Enhance, a platform-wide generative AI tool during the event. This feature, soon to be available to users, enables the generation of context-specific text across the suite at no additional cost to existing customers. Brian Chess emphasized that Text Enhance has substantial value for NetSuite users, as it can be applied across a wide range of scenarios.

The AI assistant of the future

NetSuite also showcased early demonstration videos of an upcoming AI assistant that can be leveraged for various purposes suite-wide. This AI assistant promises to generate more granular business projections based on user inputs, further expanding the potential of AI within the NetSuite ecosystem.

NetSuite’s seamless integration approach

Evan Goldberg, NetSuite founder and EVP, highlighted the company’s strategy to seamlessly integrate AI features into its suite of services. Unlike giving AI features standalone titles, NetSuite aims to make these updates a natural part of the overall NetSuite experience. 

SuiteWorld 2023 showcased NetSuite’s commitment to leveraging generative AI to revolutionize its suite of services. However, the challenge lies in helping customers identify concrete use cases for AI. Business leaders are eager to hop on the AI train, but they are still searching for the “why.” With more experimentation and a focus on real-world applications, NetSuite and AI providers have the opportunity to bridge the gap between AI’s potential and its practical value for businesses. As the AI landscape continues to evolve, it remains to be seen whether customers will fully embrace generative AI, but SuiteWorld 2023 marked a significant step in that direction.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

Share link:

John Palmer

John Palmer is an enthusiastic crypto writer with an interest in Bitcoin, Blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience.

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

AI
Cryptopolitan
Subscribe to CryptoPolitan