In this disrupted business environment, the pace of digital-led technology transformation has only accelerated, and as a result, data and trust have become valuable currencies. Autonomous and intelligent technologies are driving the workforce, becoming agents of innovation that must seamlessly integrate with more traditional functions.
As explained in the recent Accenture Technology Vision for Oracle 2020, now more than ever, there’s a pressing need for organizations to evolve their tech-driven business models responsibly, with trust as a basis for competitive differentiation and growth. Let’s take a look at some of the key trends highlighted in this annual forecast of technology innovation, and how companies take on the new with Oracle Cloud now.
Trend: AI and Me
Businesses are taking advantage of AI by applying automation tools into existing workflows, which enables faster operations. While these benefits remain crucial, the impact is limited without new methods of human-machine collaboration. A crucial hallmark for any business is the ability to create opportunities for employees to pair their unique skillsets with the limitless capacity of machines.
This will pave the way for the next generation of intelligent businesses - where humans and AI systems work beyond a linear “command and response” relationship, into a more interactive, exploratory, and adaptable experience.
In alignment with this trend and the need for intelligent businesses to evolve, Oracle recently announced a new cloud-based customer experience (CX) management solution for the communications industry. Many Communication Service Providers (CSPs) need to engage customers with an experience that is responsive without human intervention, powered by the unification of data and AI. Oracle Digital Experience for Communications, built on Oracle Cloud Infrastructure, is a suite of industry-specific applications that capture and analyze customer-interaction data from front and back-office operations. CSPs are seeking ways to engage and best serve their customers by transforming their channels and business support systems in order to deliver a digital-first, effortless, conversational customer experience.
During the Virtual Event: Digital Experience for Communications, Accenture Oracle Intelligent Platform Services Europe Lead, Andrea Cesarini, explained our New Normal has been an accelerator to the need for a “new currency” of combined customer experience, resilience and trust. Digital Experience for Communications is a solution powered by AI-based recommendations to help drive operational excellence, reduce costs, and provide more intelligent and personalized experiences for customers at a rapid speed.
Trend: Innovation DNA
Comprehensive innovation is an imperative for companies that want to remain relevant in the coming years. Competitive market threats and unforeseen forces are pushing businesses to continuously change and accelerate their pace of innovation. Seventy-six percent of surveyed executives believe that the stakes for innovation have never been higher - getting it right will require new ways of innovating with ecosystem partners and third-party organizations.
To thrive in the future, companies will need to overcome the challenge of pairing continuous innovation and experimentation. Organizations are facing the pressure to build new technology-powered engines that drive transformation – this establishes their own unique innovation DNA.
For business leaders looking to have their own unique innovation DNA sequence, pay attention to these four foundational building blocks.
The intelligent enterprise is required to modernize the back-office and optimize operations across Finance, Supply Chain and HR. In strategic collaboration, Oracle and Accenture are helping customers boost agility and innovation in the cloud, with an added edge to performance and cost, powered by autonomous technology.
Be Relentless Innovators with Oracle Cloud
When the pandemic is over, it will be clear which companies made moves to drive innovation and which companies didn’t. Making the choice now to have a more intelligent cloud with built-in automation can save time, money, and energy down the road. With people around the world expecting an uninterrupted stream of content, web browsing and social media access, delivering on that can be a challenge without adequate data management capabilities.
Many companies are saying goodbye to aging infrastructure, and using AI to sift through all that data to give your business an edge by freeing up IT staff to do what they do best – build more and create more.
Oracle is driving this expansion of technological collaboration with our AI innovation for cloud and database management. Oracle Cloud Observability and Management Platform is an example of this evolution - with visibility and machine learning-driven actionable insights for simplified intelligence and effective problem solving. Oracle’s integrated functionality and automation for DevOps monitoring and IT operations management makes it 50% easier to prevent and solve IT problems. Coupled with automation, these services drive scale and predictable results, to ensure that technology goes hand-in-hand with business.
A conversation about Oracle’s cloud capabilities isn’t complete without also discussing Oracle Autonomous Data Warehouse (ADW) and Autonomous Transaction Processing (ATP). Oracle Autonomous Data Warehouse is a cloud data warehouse service that automates the processes of operating a data warehouse and securing data. It features elastic, automated scaling, performance tuning, and security, while also offering a broad set of built-in capabilities that enable machine learning analysis, simple data loading, and data visualizations. Accenture Global IaaS Director, Chris Pasternak, helps organizations recognize that Oracle Autonomous Data Warehouse reduces management time so they can stop worrying about mundane tasks associated with administering a database and focus on driving true value from their data. Similarly, Oracle Autonomous Transaction Processing is a cloud database service that eliminates the complexity of operating and securing highly available and high-performance databases. It automates the provisioning, configuring, tuning, scaling, patching, encrypting, and repairing of databases. It also includes all of Oracle’s advanced database options such as RAC, Multi-tenant, Partitioning, In-Memory, Advanced Security, and Advanced Compression. The two services are built to support everything from simple web apps to large applications that are critical for business operations - while enabling new intelligent capabilities that drive elevated collaboration across an organization.
Oracle Dedicated Region Cloud@Customer delivers all of Oracle’s next-generation public cloud capabilities and services - including Oracle Autonomous Database and Cloud applications - on premise and in customer datacenters. An industry first, it delivers the full range of Oracle Cloud services wherever customers need them. As a result, customers in highly regulated industries with strict compliance can modernize their operations and take advantage of the performance, economies of scale, and agility benefits that come with cloud computing.
Prepare for the Journey into 2021
By enabling new strategies that enforce digital trust and effective collaboration, businesses can unlock new opportunities for creativity and innovation. The common denominator driving change for today’s industries is the cloud. These innovations are not only resetting customer expectations, but allowing every business to be nimble, more responsive, and more personalized. Knowing your data means knowing your customers, and cloud computing has delivered an entirely new class of companies that are based entirely on innovative uses of data. With the foundational Accenture myConcerto for Oracle platform, Accenture meets clients where they are on their cloud journey. Oracle Cloud provides an agile and scalable technology platform for continuous data-driven innovation with digital trust.
View the full Accenture Oracle TechVision 2020 report.