Oracle NetSuite unveils new AI tools to boost business productivity
Oracle NetSuite has announced a range of new artificial intelligence (AI) capabilities aimed at enhancing its suite of business applications.
These updates, unveiled at SuiteWorld in Las Vegas, are designed to help customers detect financial exceptions, interact with data more intuitively, and extend the suite's AI capabilities.
Building on the generative AI already integrated into the suite, the latest offerings aim to increase operational efficiency, mitigate risk, enhance decision-making, and help businesses achieve their objectives more quickly.
Evan Goldberg, founder and executive vice president of Oracle NetSuite, said, "We are embedding AI-powered capabilities across the suite so customers are benefiting from it as soon as they log in. By ensuring AI is built into existing business processes and not bolted on, we are helping our customers achieve immediate value from the latest AI innovations at no additional cost."
He further mentioned that the updates build on the hundreds of new generative AI use cases added in the past year, aimed at boosting productivity and increasing the suite's value for users.
One of the new features, NetSuite Financial Exception Management, utilises AI to automatically detect financial anomalies, helping organisations increase efficiency and mitigate risk. This tool allows users to quickly assess situations, identify activities requiring investigation, and obtain actionable insights to resolve issues before the period end.
NetSuite SuiteAnalytics Assistant is another addition, designed to aid better decision-making and expand insights. This tool allows users to interact with data through a natural language interface, generating AI-powered summaries and key takeaways from queries. Users can, for example, request reports on accounts payable aging or identify the top five customers by balance and receive detailed, generative AI-produced summaries.
Additionally, the NetSuite Prompt Studio enables administrators and developers to refine the quality of AI-generated content. By configuring the format, tone, and creativity level of AI responses, organisations can gain more control over generative AI prompt configuration, thus enhancing end-user productivity.
Generative AI for SuiteScript API is another significant update, allowing organisations to incorporate AI-driven functionalities into NetSuite extensions and customisations. This enables companies to rapidly introduce new AI-powered features tailored to their unique business needs.
For developers, the Oracle Code Assist SuiteScript optimisation offers an AI code companion to expedite building extensions and customisations within NetSuite. This feature assists developers in creating boilerplate code, generating documentation, running unit tests, and obtaining coding solutions swiftly.
In addition to the new tools, the NetSuite Advanced Customer Support (ACS) AI Playbook has been introduced to help organisations configure, optimise, and create new AI-powered functionalities within the suite. This playbook aims to support increased efficiency, expanded insights, and enhanced decision-making by enabling rapid deployment of new capabilities.
All AI capabilities are built on Oracle Cloud Infrastructure (OCI), leveraging its leading AI services while respecting customers' data privacy and security. OCI Generative AI services ensure that no customer data is shared with large language model providers or seen by other customers. To further protect sensitive information, role-based security is embedded directly into NetSuite workflows, ensuring content recommendations are based solely on the user's permissions.
The suite of new AI offerings from Oracle NetSuite provides a range of tools and capabilities to help businesses optimise their operations, enhance productivity, and make more informed decisions. These updates reflect Oracle NetSuite's ongoing commitment to integrating advanced AI technologies within its suite to deliver immediate and tangible benefits to its users.
