Infor urges Thai enterprises to adopt Gen-AI
Against the backdrop of slower economic growth, many Thai firms may be reluctant to adopt AI and related technologies at this stage, but longer-term benefits could outweigh the initial investment costs.
According to Koch-owned cloud software company Infor CEO Kevin Samuelson, generative AI is here to stay and will further increase the competitiveness of companies in terms of faster speed, lower costs and higher accuracy in various business aspects.
US-based Infor is a major supplier of enterprise resource planning software applications, for key industries, such as manufacturing, distribution, healthcare, and retail.
Samuelson said Gen-AI is now used in distribution, for example, to manage large enterprises’ forklift fleets, which include many different models so that spare parts inventories can be better managed to deliver faster and more cost-effective repair services.
Due to better record-keeping on configurations of various models’ spare parts and shorter lead-time to get those parts, Gen AI software helps increase accuracy by up to 30 per cent as a result of less errors in parts inventory while costs are down as much as 40 per cent. Overall, enterprises need less time to fix their large fleet of forklifts.
Another example is enterprises’ invoicing in which Gen-AI predictiv software can be used to manage formats and process to improve speed, efficiency and cost effectiveness.
In construction industry, Gen-AI, now backed by massive improvements in computing power and cloud technology, is also used in scheduling for complicated building projects such as sports stadium, in which dynamic and inter-connected data, real-time accuracy, predictive softwares and other features are added to reduce project costs and construction time.
Overall, embracing Gen-AI softwares, which follow machine-learning and previous automation softwares, is the new global trend for enterprises, including those in Thailand, to stay competitive, even though a sluggish economy may discourage new investment.
Meanwhile, Infor earlier also launched new GenAI and ESG Reporting softwares, to help customers improve productivity and report on their environmental footprint. From industry-leading ERPs to supply chain solutions, which run critical operations in manufacturing, distribution, healthcare and public sector, the power of GenAI is combined with unique industry capabilities and insights.
This gives customers more power to leverage the right data and workflows to help realize more value more quickly. Additionally, the solutions adhere to stringent security and data privacy best practices driven by Infor’s OS platform.
“We’re constantly listening to customers’ pain points and anticipating opportunities that allow customers to be successful and competitively advantaged,” said Soma Somasundaram, President and Chief Technology Officer at Infor. “When it comes to building solutions that are hyper-productive, our vision is to minimize the time customers spend in applications so that they can maximize their time focusing on their specialized work and creating value. Achieving this requires more than just humans and artificial intelligence working together.
“It also requires the right, understanding of industry subsegments and individual workflows. As a company built around industry specificity, Infor understands the context of how people work so that we can build those best practices into our products to help enhance productivity. Infor GenAI is designed with this in mind.”
To be more productive and agile, Infor GenAI is built to leverage customers’ industry data and processes combined with use of LLMs via appropriate orchestration to bring substantial productivity gains in each of the industries For example, automatic assignment of attributes for products in distribution, creating exception summary for complex projects in industrial manufacturing take away unnecessary work that users do today.
Regarding ESG Reporting, the new software helps customers address the increased pressure and changing requirements from internal and external stakeholders to report on their environmental footprint. With Infor ESG Reporting, customers have the data and analytics to help drive more meaningful, measurable, and actionable change, while reporting on their environmental footprint with improved accuracy, transparency, and consistency.
