Artificial intelligence or AI loomed large at the recent SuiteWorld 2018 in Las Vegas as cloud purveyor Oracle NetSuite unveiled what it claimed as the world?s first intelligent cloud suite.
The cloud computing firm said by natively building AI and machine learning-based capabilities within its cloud business management suite, NetSuite can deliver the insight, interaction, and automation customers need to grow their business.
?A pioneer in the cloud, NetSuite has long been a leader in providing powerful business intelligence across its suite,? said Jim McGeever, executive vice president at Oracle NetSuite.
?With new AI and machine-learning capabilities within NetSuite, we?re equipping our customers to understand not only what?s happened with their business, but what will happen in the future and how they can stay ahead.?
The cloud computing firm said businesses can no longer rely on backward-looking data or traditional business intelligence (BI) systems to grow, scale, and adapt to change.
To provide the real time-insights businesses need today, NetSuite said it has built upon its existing native BI functionality by incorporating advanced machine learning and sophisticated data science within its unified cloud suite.
The new intelligent cloud combines NetSuite and third-party data to enable businesses to make proactive and timely decisions and take action from right within the NetSuite application.
The new AI and machine learning-based capabilities enable businesses to glean better insights, drive efficiencies by further automating processes, and determine the next best action with predictive actions. The intelligent cloud suite can deliver benefits to business users across the organization, according to NetSuite.
At the same time, Oracle NetSuite also announced a series of new innovations within the NetSuite platform, which include new SuiteSuccess industry cloud solutions, enhanced financial management, HR and supply chain capabilities, new innovations for product and service companies, and a new data analytics solution.
?Many companies are able to get their businesses up and running only to struggle when the time comes to reach the next stage of growth,? said McGeever. ?With continuous innovation, we give our customers the tools to overcome the barriers to growth.?
NetSuite said it is introducing 14 new editions of SuiteSuccess, a unified and pre-configured industry cloud solution that is built on industry-leading practices, combining deep domain knowledge with pre-built KPIs and dashboards.
The latest editions are designed to meet the unique requirements of micro-verticals and span a variety of specific industries, company sizes, and maturity in the cloud ERP journey, the company said.