Evelyn Mei, Product Strategy Manager
As far as emerging technologies go, Chatbots are everywhere. They are the automated agent customers talk to when they dial a customer service hotline; the personal assistants embedded in smart phones and many smart devices; they exist in cars to make driving easier; they can even entertain people who want to chat for fun or even provide emotional support for when someone needs companionship.
Many different kinds of chatbots have been built to bring conversional user experience to the masses, and in 2016 alone, more than 34,000 different chatbots were built. And this trend is only increasing. The 2018 Chatbots Market Report, which was just released on March 21st 2018, predicts the global chatbot market will grow with a Compounded Annual Growth rate (CAGR) of 27.5% between now and 2024.
One could be forgiven for thinking that the enormous interest and growth in chatbots is being driven by Millennials and Gen Zs in the consumer space. In actuality, implementations in the enterprise applications space is the main driving force behind chatbot growth.
Oracle surveyed senior executives from France, the Netherlands, South Africa and the UK, and found that 80% of them are already using chatbots or planned to use them by 2020. It is also estimated that chatbots contributed enterprise cost savings of $20 million in 2017 and will be responsible for cost savings of over $8 billion per annum by 2022.
Two Supply Chain Chatbot Scenario
1. A supply chain professional is running from meeting to meeting during the day and needs to check something but doesn’t have the time to sit down in front of their computer or log into their application.
Luckily there is an assistant on the team that can send updates and answer questions via text message. It’s a supply chain chatbot. She might ask a few questions to establish context, and then she can fetch the information from the database, and responds in text and/or rich media formats.
2. Late at night, a supply chain professional is struggling with work. The team;’s most experienced colleague has turned off his cell phone. Luckily, the supply chain chatbot is online. She is a 24-hour tutor. She can provide quick answers to common questions. She replies instantly, patiently and accurately.
As the Chatbot becomes more intelligent, she will not only be able to help monitor your supply chain performance and navigate through daily operations, but she will also recommend, execute and even communicate with internal and external parties on your behalf.
How To Make Supply Chain Chatbots Possible?
Oracle has invested considerable resources into building an industry-leading Chatbot platform. By using cutting-edge Artificial Intelligence (AI) and Natural Language Processing (NLP) powered by Neural Networks and Machine Learning (ML), Oracle Intelligent Bots Platform brings conversational user experience to the marketplace.
And when integrated with Oracle’s Enterprise Applications, Oracle Intelligent Bots Service can easily detect users’ intentions, respond appropriately with desired information, and perform business transactions.
As an integrated feature of Oracle Mobile Cloud Enterprise, Oracle Intelligent Bots can be made available through many chat and voice channels, mobile apps, and even web browsers.
The Oracle Supply Chain Management Chatbot is on the roadmap, so please stay tuned. To see how other business functions are using chatbots, click the links below to watch how Oracle HCM Clouds and Sales Cloud benefit from intelligent bots: