MIC (Market Intelligence & Consulting Institute) held its 36th MIC Forum Fall from October 30 to November 2. On October 31, MIC released its findings on trends in data governance, highlighting observations on the application of AI in enhancing supply chain resilience, trustworthy AI development, and data governance in the era of the data economy. Supply chain resilience has become a vital requirement for business survival, and the development of AI technology presents a fresh opportunity for supply chain management. MIC's Research Director, Ray Han, stated that emerging AI technologies offer a new wave of innovative applications, strengthening the ability to establish a resilient supply chain. This shifts supply chain resilience from a single function to a comprehensive set of strategies and tools, primarily through the integration of "Analytical AI" and "Generative AI". Analytical AI can provide automated optimization efficiency for businesses, while Generative AI enables the integration of intelligent capabilities, granting companies enhanced decision-making and response capabilities. In the future, businesses must consider visualizing their supply chains, adjusting, monitoring, planning, and conducting in-depth risk analysis.
Analytical AI vs. Generative AI
Source: MIC, October 2023
According to MIC observations, companies are already using ChatGPT in conjunction with existing risk data to process a large volume of supplier contracts and sentiment data. This allows for risk analysis and real-time feedback. Additionally, Generative AI is being employed to address transportation-related queries, aiding in the planning of temporary transportation routes. Some companies are even one step further by starting to utilize ChatGPT for supply chain negotiations and pricing inquiries. Director Han emphasized that building supply chain resilience has become imperative for businesses, with AI technology expected to play an increasingly critical role. Companies should grasp this application development trend and leverage both Analytical AI and Generative AI for refined decision-making and seamless process integration.
Established in 1987, MIC is a division of III (Institute for Information Industry), a major government think tank, and one of the leading IT research institutes in the Asia Pacific region.
To know more about this topic, please visit: AI Development in the Era of ChatGPT: Challenges and Key Considerations, Major Countries' Responses to Generative AI Development: Japan, Sweden, Italy and China (pre-order), Development of the Server Industry and Market, 2023 and Beyond (pre-order)
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