Oracle adds generative AI features to finance, supply chain software

Oracle adds generative AI features to finance, supply chain software is profiled by BTW Media because public-source evidence links it to internet infrastructure, governance, operational dependencies, or market visibility.

• Oracle is adding generative artificial intelligence features across its corporate software lineup, spending billions of pounds on Nvidia chips and partnering with Cohere, an AI startup founded by ex-Google employees.
• Steve Miranda, executive vice president of applications development at Oracle, said the approach was meant to avoid some of the pitfalls of current AI technology.

OUR TAKE
Oracle’s decision represents a significant advancement in enterprise technology. By leveraging AI capabilities, Oracle helps customers improve decision-making and enhance the employee and customer experience.
For Oracle, a late entrant to the cloud market, these features are a core part of what allows it to catch up to corporate software rivals. Oracle announced new generative AI capabilities within the Oracle Fusion Cloud Applications Suite on Thursday.
-Jennifer Yu, BTW reporter

Oracle has announced new generative AI capabilities within the Oracle Fusion Cloud Applications Suite.

Current status of the Oracle

Oracle’s cloud-based software offerings are central to many businesses in running their finances, supply chains, and human resources departments, and the Austin, Texas-based company said that the new features are designed to save time for those people by generating reports, summarising complicated data or drafting job descriptions, among other tasks.

Microsoft is also trying to woo businesses with its cybersecurity product “Copilot” AI features. Oracle, which comes to the market at a late time, has spent billions of pounds on Nvidia chips and partnered with Cohere, an AI startup founded by ex-Google employees.

Also read: Oracle shares surge over 13%, hint at Nvidia collaboration

New features

Unlike consumer apps such as ChatGPT where users simply type requests directly to a chatbot, Oracle has identified about 50 different features where the AI system has been tuned to handle specific tasks, such as writing up a product description in a catalog based on data in a company inventory system or summarising a long chain of back-and-forth price negotiations with a supplier.

In all cases, a human employee reviews the AI-generated information before it becomes final.

The approach was meant to avoid some of the pitfalls of current AI technology, such as the tendency to make up inaccurate information, while still providing productivity improvements.

“We think we’ve got a broad set of use cases that we think we brought to market quickly. That’s going to give us some great feedback, but it’s very much in a controlled fashion to avoid some of the issues,” said Steve Miranda, executive vice president of applications development at Oracle. “Oracle does not plan to charge extra for the new features,” he added.