In addition to these on-demand capabilities, our customers get a solution that inherently scales to incorporate new and emerging technologies because it’s backed by Google Cloud. Once customers have accurate, actionable data in a secure model, they can leverage pre-delivered content via machine learning and artificial intelligence to render meaningful data insights and make decisions quickly and with high confidence. This is a significant advantage as
Generative AI becomes more common and requires secure, cost-effective, and protected models to simplify the business.
For example, Generative AI is opening new possibilities that are changing how companies manage their supply chains.
Generative AI’s ability to extract salient information from documents, and summarize key points is allowing buyers and supply chain managers to easily ask natural language questions about products and suppliers and get salient responses.
Google
Gen App Builder Info\bots can now allow buyers to reorder frequently ordered products, use multi-turn conversations to refine searches, highlight opportunities to change suppliers for a better deal, and even finalize orders.
Customers are starting to use Generative AI in supplier risk assessment. Together with existing AI approaches, a model can analyze various factors, including financial health, current news events, past performance, and delivery timelines to generate each vendor's risk score. This enables the company to make informed decisions about its procurement strategy, resulting in a reduction of supply chain disruptions and procurement costs.
Generative AI is also transforming creation and utility of documents throughout the supply chain process. For example, Google
Gen App Builder eases the extraction of key contract terms, searching for relevant product data, and answering questions about products. Extractive prompting in large language models (LLMs) can extract structured product information from unstructured written product documentation removing tedious manual steps entering new products into a supply chain management system.
Using embeddings, Generative AI can uncover unexpected correlations in case reports from shipping and receiving agents and customers, uncovering previously invisible clusters of correlated events hindering smooth delivery of products.
Beyond the supply chain, these same capabilities can be applied across other business verticals such as HR, Commerce, Procurement, Finance and Manufacturing. Infobots can be quickly built to assist employees understanding and applying company policy, or to provide instant and accurate responses to consumer inquiries. LLMs can provide deeply personalized product recommendations by modifying marketing language based on analysis of a customer's interactions with an enterprise.
Generative AI has the potential to revolutionize industries by increasing efficiency, reducing costs, and optimizing workflows with fewer human interactions. As AI technology continues to advance, we can anticipate an increase in the number of innovative applications of Generative AI in a variety of industries.