Generative AI & How it impacts supply chains
As generative and conversational AI dominate the new headlines, businesses are beginning to wonder if the benefits of generative AI will eventually make their way into business use cases. The good news is, supply chains have ways to integrate ChatGPT-like features into their processes for better data analysis, quicker decision making, and a better overall picture of what their data is trying to say.
The benefits of generative AI are vast, but don’t get anxious: the key is to start small and make sure your digital transformation is on track to deliver your desired KPIs. Below are some of the benefits and the influence of ChatGPT, and similar technologies like ConverSight, have for supply chain businesses through Generative AI and Augmented Analytics capabilities.
- Increased Efficiency: ChatGPT can automate many tasks that were previously done manually, freeing up valuable time for supply chain executives and their teams. With Generative AI, the technology does the work for you to answer frequently asked questions, provide real-time updates on shipments, and even help with data analysis. This increased efficiency allows supply chain businesses to focus on more strategic tasks, ultimately leading to increased productivity and profitability.
- Improved Customer Service: ChatGPT’s natural language processing capabilities enable it to understand and respond to customer queries and concerns quickly and accurately. This results in improved customer satisfaction, as well as reduced wait times and call volumes for customer service teams.
- Enhanced Decision-Making: ChatGPT can quickly process vast amounts of data and provide meaningful insights. This enables supply chain executives to make more informed decisions, identify potential problems before they occur, and improve overall supply chain performance.
- Cost Savings: By automating manual processes and reducing the workload of customer service teams, ChatGPT can significantly reduce operating costs for supply chain businesses. Additionally, its ability to quickly process data and provide insights can help companies avoid costly mistakes and inefficiencies.
The benefits and influence of ChatGPT, generative AI and AI assistants for supply chain businesses are undeniable. By leveraging this technology, supply chain executives can improve efficiency, customer service, decision-making, and ultimately achieve cost savings, all paramount factors to drive success in 2023. As the world continues to evolve and technology continues to advance, it is essential for supply chain businesses to stay ahead of the curve and embrace innovative solutions like ChatGPT.
Not sure where your business stands in your AI and digital transformation journey? Might be worth taking this quick assessment as a starting point: https://conversight.ai/supply-chain-ai-analytics-assessment/