NetSuite announced today the intelligent cloud suite, Artificial Intelligence (AI) and Machine Learning that is built and delivered like all NetSuite functionality -- in a way that customers can consume, use and quickly drive real business benefit.
The intelligent cloud suite will be delivered with the same philosophy of all NetSuite functionality and similar to its existing business intelligence: real-time, consumer-oriented, relevant, accessible and optimized for each industry and role.
The value of AI in business
AI offers incredible opportunity, but like all technologies it has to create real value and help businesses make better decisions.
Self-driving cars are an incredible technology that is still evolving, but clearly “intelligent.” However, many of the “intelligent” developments hitting the market today are not necessarily groundbreaking. Instead, they are smart automations that get applied to many (sometimes tedious) tasks. Consider mobile device improvements. They may not be groundbreaking but make a great difference to the user experience.
For example, when you get an instant message from an unrecognized sender, the phone can check all your other data for that phone number and suggest who it might be. Similarly, when you have an appointment, the calendar reminds you based on how long it will take to travel. It determines the travel time based on the weight of the traffic and then offers to load it into Maps for directions.
Straightforward, intelligent features such as these don’t require groundbreaking technology, but focus on both making your job easier and making the right decision.
3 Key Components of AI
The advanced intelligence in the self-driving car encompasses the key components that also make up the NetSuite intelligent cloud suite.
At first, most people aren’t comfortable with allowing a car to make all the decisions. But by using the three components of AI, companies like Tesla ensure drivers get the best performance from their vehicle. With NetSuite we want to make sure our customers get the best performance out of their business. Below, we break down what the three components of the NetSuite Intelligent Suite are.
1) Intelligent Insights allows you to understand your business like never before.
Teslas let the driver know everything that is happening around the car in real-time, assuring them that the car knows what it’s doing. Some things the user can see and set up, such as rear and side mirrors and what’s happening through the front windshield. Others the user can’t see or may happen too quickly for them to notice.
NetSuite is similar. Every industry and role has dashboards and reports that give users visibility into what is happening and what they need to do. However, many times things happen so quickly that by the time people see it, it is too late. Alternatively, something important is happening and they don’t even know they should be monitoring it and opportunity is lost.
NetSuite’s Intelligent Insights will ensure, like the Tesla, that you are looking at the right things at the right time and getting insight to areas of the business you might otherwise have avoided. For example, a planning manager may be alerted to potential quality or supply issue based on a series of seemingly unrelated activity for example future weather affecting customer delivers. Intelligent Insights would push that alert or task to the planner in order to avoid letting the customer down.
2) Intelligent Interaction helps you make the right business decisions.
With Teslas, the car lets the driver know which turns to make, when to take different routes based on traffic and always explains why, so the driver can make the right decision. It can dynamically change the display so the driver can do the right thing. It remembers what you have done in the past.
NetSuite’s Intelligent Interaction does the same thing. Based on what has succeeded in the past, how some actions are repeated, how everyone in an industry solves a common problem and NetSuite’s experience with thousands of customers across industries, it will change dynamically.
It can dynamically change the layout and tab order of screens, auto fill information based on what is typically entered or explain an area of concern and a suggested action. For example recommending how a supply problem due to weather may be solved by using alternative inventory locations.
3) Intelligent Automation can save you time in constructing workflows.
Ultimately, Tesla’s insight and interaction gives drivers the comfort to tell the car “just drive.” The car then automatically drives to the destination with little intervention, automating the experience intelligently. NetSuite Intelligent Automation is similar.
Today, NetSuite allows any business process to be automated by a powerful point-and-click workflow engine. With Intelligent Automation, rather than a user constructing the workflows, the system will create them based on previous valid decisions and similar successful work flows that have achieved the goal. In the future, rather than manually carrying out the process, the system will do it automatically. In the same supply chain example, the user takes the Intelligent Insight and Interaction and confirms the system can automatically take the action.
Read the press release and follow the conversation from #SuiteWorld18 to learn more about how NetSuite is helping create the self-driving business.