Has NetSuite Noticed the AI Revolution?

Over the last six months, the tech landscape has witnessed an unparalleled flood in the field of Artificial Intelligence (AI). The AI revolution has gripped industries across the globe, transforming the way businesses operate, interact with customers, and make data-driven decisions. We’ve been given chatbots and virtual assistants to predictive analytics and personalized recommendations. Most of us have watched as AI permeated, step by step, every aspect of the tech world.

Companies such as Amazon, Google, and Microsoft have pioneered varied AI applications, pushing the boundaries of natural language processing and machine learning. Of course they have. They’re the goliaths and it’s expected. But what about the ERP world?

SAP have their AI Business Services among other offerings. Although this product has been available for a number of years it’s a great platform for them to start benefiting from more recent advancements in artificial intelligence

Microsoft have a number of applications for generative AI in Dynamics 365. Microsoft have been leveraging the power of Azure AI to bring intelligence to a number of business workflows and Dynamics 365 Copilot is an AI assistant that can help with general tasks and idea generation.

In 2018 NetSuite announced the worlds ‘first intelligent cloud suite’1. Five years ago most of us didn’t really know what artificial intelligence and machine learning meant but fortunately NetSuite’s offering was pretty easy to understand – This new cloud suite would be able to drive more informed business behavior based on predictive actions and intelligent insights. This improves financial planning, supply and demand issues, upsell opportunities and much more. These have all been welcome improvements but, based on what we see in the world of AI in 2023, feel a little underwhelming.

So what have NetSuite offered in this space since the big announcement of 2018?

On the 16th of October, SuiteWorld, NetSuite’s annual ultra-conference, will be kicking off at Caesars Forum in Las Vegas. This year is a big one as it marks 25 years since the inaugural event. It makes sense that they might have been keeping their AI cards close to their chest, waiting to make big announcements here.

The hope is that during the keynote presentations this year we will be introduced to some of the AI developments that will put NetSuite back on the map in this space. We’ve come a long way since 2018 and we need to see that NetSuite are keeping up. This industry is moving incredibly fast and if they don’t jump on soon they are going to get left behind.

None of this criticism, however, is applicable to the wider NetSuite ecosystem of Partners, Solution Providers and developers. Fortunately, there are countless third parties looking at ways to apply AI advancements to NetSuite.

Glean AI offer a NetSuite integrated AP platform that uses machine learning to provide insights in vendor spend and purchasing habits. Razorthink have developed an AI driven Demand Forecasting and Planning SuiteApp. Tesorio have an AR Automation powered by AI and the list goes on.

What I haven’t found as yet is a chatbot trained on the NetSuite Help. This might be something we need from NetSuite rather than a third party but it would be a much needed giant leap in the companies AI offering.

So, will we be getting chatbots at SuiteWorld? Maybe AI document management or improved sales forecasting? Maybe color themes reflecting the mood of our system usage? Probably not that last one, but for the rest, we’ll have to find out.

Check out the big reveal at SuiteWorld 2023 and if it met expectation.

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