Enterprise software vendor Oracle (Oracle NetSuite) said after a survey that Asian companies often use generative artificial intelligence (GenAI) to further mine enterprise data in order to obtain more in-depth information, especially in the marking of unusual transactions has made great progress.。

AI's Data Doubts: GenAI's Red and Black

GenAI is an artificial intelligence that can learn from existing data, analyze its structure, models, and output new data (such as text, images, video, audio, or 3D models), and the Harvard Business Review says it "not only improves analysis and decision-making, but also enhances creativity," making it a unique tool for many industries such as gaming, design, and e-commerce.。

Cross-border trade (e-commerce, gaming, etc.) is NetSuite's main growth area in Japan and the Asia-Pacific region; other growth areas include wholesale distribution, food and catering, and discrete manufacturing.。

In an interview at the annual partner and customer event held this week, KK Pan, vice president of Oracle NetSuite Asia Pacific, said GenAI can help enterprises respond quickly to growing challenges。In addition, it can meet the needs of enterprises looking to automate business processes in various areas, such as planning, budgeting, capturing and classifying expenses based on historical data.。

"GenAI has changed the rules by which businesses operate, dramatically increasing productivity and accelerating digitalization.。With GenAI, applications can operate faster and more efficiently。"Pan said。

However, Oracle NetSuite believes that there are still some refinements for GenAI to become a complete AI, one of which is the control of its applications, and companies must develop appropriate regulatory frameworks to prevent data breaches.。

Professionals Say Single Data Source Is Key to Enhancing GenAI Reliability。While NetSuite's products can reconcile data from different sources, there is still a large amount of data that resides outside the enterprise。And the company believes that whether internal and external data can be unified to the same source is the tipping point for whether GenAI functionality can be maximized.。

Pan noted that customers' technology investments have tended to be conservative in the post-epidemic business environment。"Although there are many business opportunities, there is always a slight delay in the signing of procurement contracts.。Unknowns such as current inflation are causing companies to be more cautious about spending.。"

New products and new future: precise docking enterprise needs

Overall, Netsuite believes that companies want three improvements to their business systems: fast data entry, flexibility to adapt to fluctuations in the business environment, and a more efficient technology platform.。

At the SuiteWorld event, NetSuite introduced new products that are expected to help businesses scale quickly。One of them is NetSuite Analytics Warehouse, which integrates and centralizes data from different sources through artificial intelligence capabilities to accelerate data visualization and report publishing。More visible, transactional-level activities enable customers to gain a deeper understanding of the business model of the enterprise, thereby increasing decision value with keen insight。

NetSuite's other new products include performance management software and digital payments, electronic invoicing capabilities, and more to improve financial management efficiency.。In addition, a new field service management solution will be introduced to help enterprises meet the changing needs of customers and provide them with a seamless experience.。

At the same time, NetSuite also released a new authorization model that will provide customers with task-specific authorization without employees having full access。For example, warehouse employees only need to access NetSuite's receiving and shipping functions to operate warehouse management-related functions without obtaining full authorization。People familiar with the matter said that the function will first be used for NetSuite warehouse management, and then will be gradually extended to the entire NetSuite。