By Monica Mehta
Artificial intelligence (AI) is drastically altering the way companies do business. Now, new embedded AI capabilities in Oracle Cloud Applications can help businesses leverage this major technology in a simpler, more efficient way.
This week at Oracle OpenWorld, Oracle announced new AI-based apps for finance, human resources, supply chain, manufacturing, commerce, customer service, marketing, and sales. The apps expand AI and machine learning capabilities across Oracle’s cloud portfolio.
Unlike standalone apps that need integration and create extra steps in the decision-making process, the new Oracle Adaptive Intelligent Apps embed AI capabilities directly into Oracle Enterprise Resource Planning Cloud, Oracle Human Capital Management Cloud, Oracle Supply Chain Management Cloud, and Oracle Customer Experience Cloud Suite.
The apps can react, learn, and adapt in real time based on historical and dynamic customer data, which helps organizations transform business processes and user experiences.
The goal is to enable business users to take advantage of AI directly within their existing tools instead of having to export their data into an external AI solution.
“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,” said Steve Miranda, Oracle’s executive vice president of applications development.
Third-party data feeds into Oracle Adaptive Intelligent Apps from Oracle Data Cloud, the largest third-party data marketplace in the world, with more than 5 billion global consumer and business IDs, and more than 7.5 trillion data points collected monthly.
New Capabilities for Every Business User
By baking AI directly into the cloud applications, the new tools provide fast insights to business professionals, enabling them to make decisions more easily.
How can the new AI-powered capabilities benefit users in specific functional areas? Here are just a few examples:
Finance and Procurement: By analyzing historical trends and business risk data, finance professionals can develop suggested discount rates on invoices, optimize cash flow, and create the optimal balance between buyers and suppliers.
Human Resources: With the application of natural language search and deep learning technologies to resumes and job postings, HR professionals can source the best candidates and determine the likelihood of success and longevity by using insights from previous recruitment engagements and current job indicators.
Supply Chain: Predictive analytics and machine learning techniques can detect and analyze key signals in device data, helping with activities such as predicting and preventing machine failure before it happens, auto-discovering the best ways to segment planning data, and auto-tuning supply chain planning engines.
Manufacturing: By enhancing the management of manufacturing operations, the new apps can drive factory and shop floor improvements by performing incident detection, root-cause analysis, and smart resolution within minutes in a connected factory.
Commerce: Natural language and deep learning capabilities provide 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.
Customer Service: Deep learning technologies can reduce the time between request and resolution across thousands of potential questions and associated answers. Representatives who handle service requests can receive automated responses based on previous learnings.
Marketing: Marketers can use the new AI capabilities to better understand their target audiences and provide the best offers by utilizing consumer and business data. The AI tools gauge response rates and enable marketers to identify how audiences are interacting with content, and tailor future communications.
Sales: Utilizing business and third-party data such as live news and event feeds, the AI tools provide next-step recommendations to close deals and optimize sales offers, and prompt sales reps with smart call points.
“AI has the power to be more transformative for the enterprise than any other technology in recent history,” said Amit Zavery, senior vice president of product development for Oracle Cloud Platform.
Monica Mehta is a frequent contributor to Profit, Oracle’s quarterly journal of business and technology.
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