The US technology company, Oracle (NYSE:ORCL) is set to introduce its first generative AI services on its Fusion Cloud platform within the next two quarters, as announced by Miranda Nash, group vice president for applications development and strategy at Oracle, during the Oracle CloudWorld conference on Wednesday. The new services will be initially introduced on Oracle's Human Capital Management and Cloud Experience platforms in the fourth quarter of this year, followed by Enterprise Resource Planning and Supply Chain Management services in the January to March 2024 period.
The announcement follows Oracle's recent showcase of new generative AI features at Oracle CloudWorld on Wednesday, September 20. These capabilities are designed to enhance customer interactions and efficiency. Oracle's CTO Larry Ellison highlighted the company's unique networking infrastructure that sets it apart from competitors in his keynote speech at the event. The company employs a remote direct memory access (RDMA) network that enables rapid data transfer between computers.
In his keynote, Ellison also shared Oracle's vision for the future of AI. He noted that there's a global competition underway to create superior forms of artificial intelligence that promise to shape a brighter future. He mentioned that ChatGPT 4.0 has replaced ChatGPT 3.5 as the cutting-edge offering in generative AI, with companies like Cohere and OpenAI developing new large language models capable of more than just generating text.
Oracle has unveiled new generative AI-powered capabilities within its Oracle Fusion Cloud Customer Experience (CX) suite. These features integrate seamlessly into current Oracle Fusion Service workflows with the aim to fine-tune customer service, boost operational efficiency, and improve overall customer interactions. The company's approach to cloud computing sets it apart from competitors in several key ways, including its unique networking infrastructure that allows for faster data transfer between computers.
Rob Tarkoff, executive vice president and general manager of Oracle Cloud CX, said that pre-trained large language models are revolutionizing interactions within organizations. "With a unique combination of traditional and generative AI, running on Oracle Cloud infrastructure and embedded in application flows, Oracle Cloud CX enables customer experience professionals to do their jobs with more accuracy and efficiency to ultimately drive more revenue," Tarkoff explained.
Oracle has been using AI for more than 20 years, having integrated it into its various global services, including analytics, the cloud, and its database portfolio. The company first announced its generative AI plans in June with a strategy focused on building robust infrastructure, providing easy-to-use cloud services for developers and scientists, and embedding generative models into everyday business applications and workflows. As part of this plan, Oracle announced it was investing heavily in Nvidia (NASDAQ:NVDA) chips to boost its position in generative AI and cloud computing.
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