Blockchain-based procurement solutions: Hyundai 1

Hyundai Card, a financial sub-label owned by South Korean automakers Hyundai and Kia, has teamed up with financial giant IBM to launch “Hyundai Card Buddy”, a new AI-powered chatbot designed to respond quickly and efficiently to customer questions. The new chatbot will take advantage of natural language processing (NLP), a kind of machine learning system that I help reproduce human language by analyzing large sets of language-based data.

The new technology is just part of the new partnership, which aims to integrate cloud-based AI and blockchain technology to improve Hyundai’s customer service experiences. Additionally, Hyundai Commercial will work with IBM to create an all-new supply chain finance ecosystem. According to IBM, the new ecosystem aims to “reduce the time and cost of financial transactions between dealers, distributors and manufacturers”.

Image credit: Hyundai