Oracle NetSuite Unveils New AI Features

Oracle NetSuite, a cloud-based business management platform, has introduced new AI features at SuiteWorld, NetSuite’s annual user conference. These updates aim to enhance efficiency, mitigate risk, and accelerate growth for businesses.

NetSuite is dedicated  to data security and privacy with the new AI features, which are built on Oracle Cloud Infrastructure (OCI). These services are designed to ensure that no customer data is ever shared with LLM (large language model)  providers or other customers. 

Role-based security is also embedded directly into NetSuite workflows, further safeguarding sensitive information. These latest updates build upon NetSuite’s existing AI capabilities including generative AI by introducing new features across various aspects of the platform. 

Key Features Include:

• NetSuite Financial Exception Management: This feature will help leverage AI to automatically detect anomalies in financial data allowing organisations to identify and address potential issues before they become problems.
• NetSuite SuiteAnalytics Assistant: This AI assistant will enables users to interact with data using natural language. Users can ask questions, generate reports and receive insights directly from their workbooks and SuiteAnalytics.
• NetSuite Prompt Studio: This tool will empower administrators and developers to refine the quality of AI-generated content by configuring the format, tone and creativity of responses. This will allow for greater control over AI outputs and improved user experience.
• Generative AI for SuiteScript API: This update will allow businesses to embed custom AI functionalities into their NetSuite extensions and customisations. This opens doors for businesses to tailor NetSuite’s AI capabilities to their specific needs and personalisation.
• Oracle Code Assist SuiteScript optimization: Developers will now be able to leverage an AI code companion to streamline the process of building extensions and customizations. This companion can generate boilerplate code, run tests and answer coding questions ultimately boosting developer productivity.
• NetSuite Advanced Customer Support (ACS) AI Playbook: This playbook will help organisations to configure, optimise and leverage the full potential of NetSuite’s AI capabilities.

“We designed NetSuite to be the foundation of business growth, with a platform that can evolve and expand to meet changing needs and a data model that connects a customer’s entire business,” said Evan Goldberg, founder and executive vice president, Oracle NetSuite. 

Aligning with Oracle's Generative AI Push, these announcements come amidst a broader push by Oracle to integrate generative AI across its entire suite of cloud products. Oracle has recently added generative AI services to several of its applications and plans to launch generative AI agents and Data Science AI Quick Actions.