Oracle's NetSuite adds AI features to finance software

FILE PHOTO: AI (Artificial Intelligence) letters and robot hand miniature in this illustration taken, June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - NetSuite on Tuesday said it is adding generative artificial intelligence capabilities to its finance software, giving companies the ability to automatically write collections letters or chase down purchases of supplies that have been delayed.

NetSuite, owned by Oracle, said that it is using its parent company's cloud-based systems to develop the new "Text Enhance" feature. It is the latest in a string of business software firms such as Microsoft, LinkedIn and Adobe seeking to use generative AI - which can read and write human-like text after a short prompt - to add new features.