ISLAMABAD: 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.
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. 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.
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.
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.”