You hear AI everywhere, but what functionalities are available for use at this moment? Learn how you can benefit from AI features in NetSuite. In this article, we will cover the AI features in NetSuite that are available right now as well as those that may become available in the near future.
AI in NetSuite and the Rise of Generative AI
With the release of GPT-3, many companies—including Oracle—have invested heavily in AI capabilities and infrastructure. Today, we will focus on some of the recent developments in NetSuite.
Although businesses have long employed AI or AI-adjacent technologies—such as Optical Character Recognition (OCR), purchase order (PO) matching, linear programming, and route optimization—the generative AI (GenAI) wave (e.g., ChatGPT, Claude, Stable Diffusion, etc) has only recently become mainstream.
1. NetSuite Text Enhancement Feature
One of the first GenAI-powered capabilities in NetSuite is the Text Enhancement feature (introduced with release 2024.2). This allows you to generate Purchase and Sales descriptions for any item. The system automatically makes Purchase descriptions more technical and Sales descriptions more persuasive for selling purposes.
Important Note: Like other GenAI tools, if your product data is incomplete, the AI may generate approximate or sometimes inaccurate details.
Extending Text Enhancement with Your Own API
If you want to extend this feature, NetSuite allows you to connect to a Large Language Model directly via AI API in the setup and give it necessary prompts. For now, the only supported LLMs are: Cohere Command R and Meta Llama 3.1 – you can customize your request within NetSuite for more fitting text suggestions.
More information for developers can be found here: SuiteScript 2.x Generative AI APIs and Artificial Intelligence (AI) in NetSuite
2. Intelligent Recommendations in Sales Orders
Intelligent Recommendations is another noteworthy AI feature in NetSuite, designed to upsell or cross-sell additional items in a sales order.
It uses various data points to suggest items your customer may be interested in:
- Past purchases by the same customer
- Other customers with similar transaction histories
- Items commonly bought alongside specific products
- Similar names, descriptions, and categories
3. Future AI Enhancements in NetSuite
Current GenAI offerings in NetSuite are not limited to the 2024.2 release. NetSuite is investing in new AI capabilities that customers are asking for.
We can expect:
- Reporting Tools in EPM: GenAI will help draft written reports and create visual breakdowns of company performance, saving time for finance teams.
- Planning and Budgeting Enhancements: NetSuite plans to integrate GenAI for evaluating plans, spotting trends or anomalies, and offering explanations.
- AI Digital Assistant: A future conversational assistant may answer questions about reports and recommend actions based on the data.
As with the Text Enhancement feature, we can expect that the new AI capabilities are typically will be released first in the U.S. and then gradually rolled out to Europe and other regions.
If you are interested in any of the AI capabilities in NetSuite or would like to learn more about implementing NetSuite in your organization? Contact us and we’ll be happy to advise you.
Story by: Mikhail Lapin
