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Blockchain-Based Supply Solutions

Hyundai Partners with IBM on New Supply Chain Financial System

— September 23, 2022 — Autos
Hyundai Card, a financial sub-label owned by South Korean automotive manufacturers Hyundai and Kia, has teamed up with financial giant IBM to launch 'Hyundai Card Buddy,' a new AI-powered chatbot designed to quickly and effectively answer customer questions. The new chatbot will leverage natural language processing (NLP), a kinda of machine learning system that I help to replicate human language by analysing vast sets of language-based data.

The new technology is just one part of the new partnership, which looks to integrate cloud-based AI and blockchain technology to improve Hyundai's customer service experiences. In addition, Hyundai Commercial will work with IBM to create an all-new supply chain financing ecosystem. According to IBM, the new ecosystem aims to "reduce lead times and costs in financial transactions among dealers, distributors, and manufacturers."

Image Credit: Hyundai
Trend Themes
1. Blockchain Technology for Supply Chain Finance - Hyundai's partnership with IBM to create a blockchain-based supply chain financing ecosystem presents an opportunity for other companies to leverage this innovative technology to reduce transaction times and costs.
2. AI-powered Customer Service Chatbots - The launch of Hyundai Card Buddy, an AI-powered chatbot designed to answer customer inquiries, highlights an opportunity for companies to improve their customer service experiences through the use of natural language processing and machine learning systems.
3. Cloud-based AI Integration - The integration of cloud-based AI technology with Hyundai's customer service and supply chain systems demonstrates an opportunity for other companies to improve their operations through the adoption of innovative cloud-based platforms.
Industry Implications
1. Automotive Manufacturing - Hyundai's partnership with IBM to launch a blockchain-based supply chain financing ecosystem presents an opportunity for other automotive manufacturers to improve their supply chain finance processes.
2. Financial Services - The launch of Hyundai Card Buddy, an AI-powered chatbot, highlights an opportunity for other financial services companies to improve their customer service experiences through the use of natural language processing and machine learning systems.
3. Technology - The integration of blockchain technology and cloud-based AI with Hyundai's operations presents a significant opportunity for technology companies to further develop and innovate in these areas.
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