Oracle Infuses its Cloud Applications with Artificial Intelligence
Oracle today announced new artificial intelligence-based apps for finance, human resources, supply chain, manufacturing, commerce, customer service, marketing, and sales professionals. The new Oracle Adaptive Intelligent Apps are built into the existing Oracle Cloud Applications to deliver the industry’s most powerful AI-based modern business applications.
“The new Adaptive Intelligent Apps enable business users from across the organizations to quickly and easily take advantage of the latest advancements in artificial intelligence,” said Steve Miranda, executive vice president of applications development, Oracle. “To make this possible we have eliminated the need for more integrations and embedded AI capabilities across Oracle Cloud Applications. The new AI capabilities combine first- and third-party data with advanced machine learning and sophisticated decision science to deliver the industry’s most powerful AI-based modern business applications.”
The new Oracle Adaptive Intelligent Apps deliver immediate impact within Oracle Enterprise Resource Planning Cloud, Oracle Human Capital Management Cloud, Oracle Supply Chain Management Cloud, and the Oracle Customer Experience Cloud by providing smart and timely insights to end users. These capabilities make the decision-making process simpler and more efficient for business professionals across the organization.
- Finance and Procurement Professionals: New AI-powered capabilities help streamline financial processes and technology requirements, reduce costs, modernize operations, and enhance collaboration. By analyzing historical trends and business risk data, finance and procurement professionals can derive suggested discount rates on invoices, optimize cash flow, and create the optimal balance between buyers and suppliers. They are able to enrich supplier profiles and provide optimized payment terms in real time. Using AI also gives them the ability to optimize working capital using the best supplier terms and discounts, and to build trusted relationships that drive better engagement with suppliers.
- Human Resources Professionals: New AI-powered capabilities help improve talent management, provide complete workforce insights, and increase operational efficiency. By applying natural language search and deep learning technologies to resumes and job postings, HR professionals are able to find and source the best candidates. They also can determine the likelihood of success and longevity by using insights from previous recruitment engagements and current job indicators, such as sales achievement or performance ratings.
- Supply Chain Professionals: New AI-powered capabilities enable organizations to rethink traditional supply chain systems to make them dynamic, efficient, intelligent, and autonomous. The capabilities in Oracle’s Supply Chain IoT applications allow supply chain professionals to manage and leverage insights from big data sources, such as connected equipment. The applications use predictive analytics and machine learning techniques to detect and analyze key signals in device data, and then to act on these insights through their associated business functions and connected processes. Whether this is predicting and preventing machine failure before it happens, auto-discovering optimal ways to segment planning data, or auto-tuning planning engines, AI-powered capabilities can transform the way supply chain professionals lead and manage the supply chain.
- Manufacturing Professionals: New AI-powered capabilities enable organizations to meet production goals by enhancing the management of discrete and process manufacturing operations. The new capabilities drive factory and shop floor improvements by demonstrating how incident detection, root cause analysis, and smart resolution are performed within minutes in a connected factory.
- Commerce Professionals: New AI-powered capabilities enable commerce professionals to improve productivity and business results by operating across multiple sites and channels that blend commerce, marketing, and chatbot capabilities. Natural language and deep learning capabilities provide unique features, such as dynamic tags and category pages that personalize search suggestions and blend search results with real-time offers to enable friction-free search. In addition, machine-learning capabilities deliver the best product, promotion, and content recommendations.
- Customer Service Professionals: New AI-powered capabilities empower customer service professionals to streamline processes and enhance the customer experience by utilizing consumer data and relevant news alerts. In addition to optimizing process around frequently asked questions, the new AI capabilities help reduce the time between request and resolution across thousands of potential questions and associated answers by leveraging deep learning technologies. This streamlines processes for customer service representatives who handle service requests by providing automated responses based on previous learnings.
- Marketing Professionals: New AI-powered capabilities empower marketers with the insights needed to better understand their target audiences and optimize offers by utilizing consumer and business data. By looking across different marketing campaigns to gauge individual, group and program response rates, the new capabilities enable marketers to identify how audiences are interacting with content and the optimal pathways for future communication. This enables marketers to optimize campaign execution and results.
- Sales Professionals: New AI-powered capabilities utilize business data to empower sales professionals with accurate next-step recommendations to close deals and optimize sales offers. The new capabilities also prompt themwith smart call points by pulling data from live news and event feeds to surface and prioritize key insights. These powerful insights empower sales teams with up-to-the-minute information about accounts so they are always prepared before making contact.
Adaptive Intelligent Apps are powered by insights from the Oracle Data Cloud, which is the largest third-party data marketplace in the world with a collection of more than 5 billion global consumer and business IDs and more than 7.5 trillion data points collected monthly. By applying advanced data science and machine learning to Oracle’s web-scale data and an organization’s own data, the new Adaptive Intelligent Apps can react, learn, and adapt in real time based on historical and dynamic customer data.
“The market opportunity for artificial intelligence and AI-enabled applications is substantial," says David Schubmehl, research director, Cognitive/Artificial Intelligence Systems at IDC. "We expect this to be a rapidly expanding area for both enterprise and commercial development as organizations race to embed predictive and prescriptive capabilities into their applications portfolio to deliver smarter software solutions to customers. The success of these solutions greatly depends on the quality and quantity of the ingested data which determines the resulting recommendation, action, or output delivered. Vendors with a strong foundation of first and third-party data to fuel the machine learning have a clear and distinct advantage in the market providing strong targeted AI-enabled solutions for their customers.”