Although artificial intelligence (AI) has generated a lot of buzz at the recently concluded SuiteWorld 2023 conference in Las Vegas, the top Asia Pacific executive of Oracle NetSuite said its AI offering is merely an enhancement of an already impressive cloud solution that it provides to its customers.
KK Pan, vice president for Asia Pacific and Japan at Oracle NetSuite, told journalists from the Philippines and Singapore that there is absolutely no cost involved in taking advantage of the benefits of AI in the cloud platform.
“A lot of people have asked me how much is the cost of the AI module in NetSuite. My answer is: there is no added price for it as it is already sitting on top of the Oracle platform that is powering our cloud solution,” said Pan.
“We are not offering AI as a separate offering. It is already embedded and built in our updated cloud platform,” said Pan during an interview at the sidelines of SuiteWorld 2023 at the Ceasar’s Forum.
The regional executive said the AI functionality would be extra useful for businesses for answering internal questions within the company or queries from customers.
“It’s a game-changer because it helps a lot in productivity and enhancing digitization. Is it complete? I wouldn’t say that but there’s still a lot of leeway for improvement,” Pan said.
“There’s also a lot of barriers that needs to be conquered eventually because as you know, doing proper AI does not involve just a single source of data. So, it cannot be just Oracle NetSuite as the only source of your data because that would limit yourself on the certain domain of the business,” he added.
This is the reason, he said, why NetSuite is rolling out in the Philippines and Singapore the latest updates to its AI-enabled NetSuite Analytics Warehouse which will make the cloud platform more robust as it will encapsulate more data points or sources.
Built on Oracle Analytics Cloud and Oracle Autonomous Data Warehouse (ADW), the NetSuite Analytics Warehouse consolidates and centralizes data, including NetSuite transactional data, historical data, as well as data from other cloud or on-premises applications, and then guides the business user on their path to actionable insights.
Pan said Oracle NetSuite, which posted a 21-percent growth last year, said the company is now chalking up new high-growth customers in the areas of gaming, cross-border trading, retail, food and beverage, and wholesale distribution.
Some of the biggest companies in the Philippines such as fast-food giant Jollibee use Oracle NetSuite as their cloud ERP (enterprise resource planning) software.
In terms of workforce, Oracle NetSuite has around 3,000 employees in the Philippines who provide back-office support to the company’s global clientele.
