Hyundai Partners with IBM on New Supply Chain Financial System
Niko Pajkovic — September 23, 2022 — Autos
References: hyundaicanada & technologymagazine
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
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
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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.
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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.
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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
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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.
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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.
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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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