Singapore – A significant 63% of high-growth businesses have already integrated generative AI into their respective supply chain operations, indicating technological adoption and learning at a faster pace than competitors. This is according to the latest survey report by software development firm Epicor.
According to the report, the said businesses have adopted artificial intelligence to manage costs and operational challenges. Respondents further indicated that this integration extends into digital supply chain operations across various functions such as product descriptions, customer service chatbots, natural language querying, reporting, and in-application assistance.
In particular, 72% of organisations underscore the integration of Gen AI in customer service chatbots as the foremost use case. This widespread deployment is attributed to the ability of technology to enhance efficiency in customer interactions across multiple sectors.
Likewise, 67% also currently use generative AI for crafting product descriptions, utilising the technology’s capacity to analyse customer sentiment and forecast market demand. This move allows businesses to employ a more informed approach to product design and feature development.
Furthermore, businesses are also implementing machine learning most frequently in inventory optimisation (45%) and demand forecasting (40%), emphasising the pivotal role of technologies in managing inventory levels and accurately predicting future demand.
The report also highlighted respondents stating the greatest hope for the impact of automation technologies lies in increased efficiency and productivity at 32%, cost savings at 26%, and improved supply chain automation at 23%.
This indicates a strong belief in the potential of these technologies to bring about substantial enhancements in supply chain management.
Vaibhav Vohra, chief product and technology officer at Epicor, said, “When workers are empowered to spend more time innovating—what humans do best—that’s where the real value creation happens. That is agility.”
“Our 2024 Agility Index underscores the growing adoption of AI and other automation technologies as an essential factor in enabling supply chain businesses to better thrive and compete. These cognitive capabilities are coming together to empower workers and their businesses to more readily adapt to shifting market conditions and better serve their customers,” he further added.
