Oracle added another set of artificial intelligence (AI) tools to NetSuite

Oracle launched a new set of artificial intelligence (AI) features to NetSuite, one of its corporate financial software products, on Thursday. Some of these technologies might speed up the process for customers to receive an estimate for bespoke bicycles or other purchases.

Oracle has approached AI differently than competitors like Microsoft. Oracle has chosen to include specific capabilities that expedite routine but time-consuming operations, such as entering a brief account of how a sales meeting went into a corporate records system, rather than rushing toward general-purpose virtual assistants.

Giving a customer a price quote for a complex purchase with many alternatives, where a salesperson would have to go through materials to arrive at a price, is another such duty that is typical in the business sector.

On Thursday, NetSuite revealed a feature that allows users to generate such a quotation by asking a chatbot what the customer wants. This tool may be used directly by customers in the case of e-commerce enterprises or by sales professionals in the background to expedite their job.

“When you buy something like a bicycle, you have to configure it – figure out what parts you want and which parts work together. We all do it when we buy our cars on the web these days,” Evan Goldberg, executive vice president of Oracle NetSuite, told Media.

“If you can configure (products) for customers more easily, you can do more deals in a day, or each deal costs less.”

Oracle has chosen to collaborate with partners like the Canadian firm Cohere to enable such capabilities rather than compete in the expensive race to create massive AI models.

Although the two companies have not made any official statements, Goldberg stated that Oracle’s recent deal to construct enormous data centers with OpenAI, the company that created ChatGPT, may lead to collaboration with it as well.

“I think you could safely say that there’s a possibility that OpenAI will be part of this,” Goldberg told Reuters. “We are eager to work with OpenAI.”

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