New capabilities for finance, supply chain, HR, customer
experience, and beyond help organizations be more competitive,
boost productivity, and reduce cost of doing business
LONDON, March 14,
2024 /PRNewswire/ -- Oracle CloudWorld
-- Oracle today announced new generative AI capabilities
within the Oracle Fusion Cloud Applications Suite that will
help customers improve decision making and enhance the employee and
customer experience. The latest AI additions include new generative
AI capabilities embedded in existing business workflows across
finance, supply chain, HR, sales, marketing, and service, as well
as an expansion of the Oracle Guided Journeys' extensibility
framework to enable customers and partners to incorporate more
generative AI capabilities to support their unique industry and
competitive needs.
"We are committed to delivering innovation that matters to our
customers, and the combination of OCI, Fusion Applications, and the
thousands of customers that use these applications daily enables us
to continually improve our services and deliver best-in-class AI,"
said Steve Miranda, executive vice
president of applications development, Oracle. "We have been using
AI in our applications for several years and now we are introducing
more ways for customers to take advantage of generative AI across
the suite. With additional embedded capabilities and an expanded
extensibility framework, our customers can quickly and easily take
advantage of the latest generative AI advancements to help increase
productivity, reduce costs, expand insights, and improve the
employee and customer experience."
50+ Embedded Generative AI Capabilities
Built on
Oracle Cloud Infrastructure (OCI) and leveraging its
leading AI services, Oracle supports over 50 generative AI use
cases that are embedded within Oracle Fusion Applications and
designed to respect customers' enterprise data, privacy, and
security. With OCI Generative AI Service, no customer
data is shared with large language model (LLM)
providers or seen by other customers. In addition, an individual
customer is the only entity allowed to use custom models trained on
its data. To further protect sensitive information, role-based
security is embedded directly into Oracle Fusion Applications
workflows that only recommends content that end users are entitled
to view.
Newly embedded generative AI capabilities include:
Oracle Fusion Cloud Enterprise Resource Planning (ERP):
- Insight narratives: Help identify anomalies,
variances, and biases based on pattern recognition. With
AI-generated narratives, based on a single insight or multiple
related insights in Oracle's Intelligent Performance Management
(IPM) Insight, organizations gain richer context and actionable
explanations to drive smarter decisions.
- Management reporting narratives: Help finance
professionals explain variances and trends impacting the business.
With generative AI-powered management reporting narratives and
contextual collaboration for finance and operating functions,
organizations can improve productivity and efficiently develop
accurate reports.
- Predictive forecast explanations: Help finance
professionals generate contextual commentary to explain forecasts
produced by predictive models and key factors driving the
prediction. With generative AI-powered explanations, organizations
can help demystify the inner workings of predictive models, build
trust and confidence in forecasts, and enable broader adoption of
predictive forecasting models.
- Project program status summary generation: Helps
program managers generate executive summaries using details drawn
from projects and sub-programs. With generative AI-powered status
summaries, organizations can improve project transparency by
surfacing key insights and outliers and reduce time spent on
preparing status reports.
- Project plan and proposal generation: Helps project
managers generate tailored project plans based on opportunity
details, similar past projects, and best practices. With generative
AI providing key points and narratives to include in plans and
proposals, organizations can reduce time needed to develop plans
and improve operational efficiency.
Oracle Fusion Cloud Supply Chain & Manufacturing (SCM):
- Item description generation: Helps product
specialists quickly generate standardized product descriptions that
highlight SEO keywords. With generative AI support for item
descriptions in Oracle Product Lifecycle Management, organizations
can save time, reduce errors, and improve the overall quality of
product descriptions to increase customer engagement and boost
sales.
- Supplier recommendations: Help procurement
professionals quickly and efficiently add suppliers to their
organization's supply chain. With generative AI-powered supplier
recommendations embedded in Oracle Procurement, organizations can
use information such as product descriptions and purchase
categories to identify suppliers, improve sourcing efficiency, help
lower costs, and reduce supplier risk.
- Negotiation summaries: Help procurement
professionals quickly generate a customized cover page summary for
a specific negotiation. With generative AI-powered assisted
authoring embedded in Oracle Procurement, organizations can
accelerate negotiations, increase savings, reduce risk, and
maximize supplier outcomes.
Oracle Fusion Cloud Human Capital Management (HCM):
- Job category landing pages: Help career site
administrators quickly build high-quality landing pages for
different job categories. With richer generative AI-built career
sites in Oracle Recruiting, organizations can deliver tailored
experiences for candidate audiences and increase candidate
engagement.
- Job match explanations: Help candidates spend less
time determining if a job opening is best suited for their
background and career goals by presenting them with a summary of
how well they fit a job. With generative AI providing immediate
feedback in Oracle Recruiting, candidates can better understand
where they may best fit within an organization.
- Candidate assistant: Helps candidates find answers
to common questions about the company, benefits, and job-specific
requirements in a simple conversational experience. With generative
AI providing immediate answers in Oracle Recruiting, organizations
can keep candidates engaged while reviewing career sites and job
opportunities.
- Manager survey generation: Helps managers generate
quick surveys for their teams with manager-defined structure and
formatting. With generative AI in Oracle Cloud HCM's Manager
Activity Center, organizations can get timely employee feedback to
quickly inform actions and decisions.
Oracle Fusion Cloud Customer Experience (CX):
- Service webchat summaries: Help call center agents
generate intelligent, concise, and clear summaries of customer chat
sessions based on the transcription of the engagement. With
generative AI creating high-quality summaries of chat interactions
in Oracle Service, organizations can accurately track ongoing
issues, reduce manual tasks for service agents, and improve the
customer and employee experience.
- Assisted authoring for sales content: Helps salespeople
improve productivity by generating customer success stories from
closed-won account history. With generative AI quickly producing
relevant supporting content in Oracle Sales, organizations can
close new deals faster.
- Assisted authoring and recommendations for marketing
collateral: Helps marketers improve productivity by providing
subject line recommendations, email and landing page copy, and
design recommendations that improve audience engagement. With
generative AI supporting the development of assets in Oracle
Marketing, organizations can improve the speed and relevance of
marketing campaigns and optimize performance.
Generative AI Extensibility with Oracle Guided
Journeys
Oracle Guided Journeys now provides an
extensibility framework that allows Oracle Cloud HCM and Oracle
Cloud SCM customers and partners to add their own generative AI
capabilities that complement and seamlessly integrate with their
existing Oracle Fusion Applications investments. As part of this
framework, organizations can choose a preferred LLM provider to
support their unique industry and competitive needs. With Oracle
Guided Journeys extensibility, customers and partners can help
accelerate innovation and respond to changing market conditions
with greater speed.
Oracle Fusion Applications' generative AI services are powered
by OCI, which hosts both prebuilt and custom models. Leveraging OCI
Supercluster, which includes bare metal compute instances,
ultra-low latency RDMA networking, and high-performance storage,
OCI helps accelerates LLM training with the highest performance at
the lowest cost. This allows Oracle to deliver the fastest AI
innovation in the industry and attract the best enterprise-focused
innovators, including Cohere, to build on OCI, further
contributing to the innovation feedback cycle.
About Oracle
Oracle offers integrated suites of
applications plus secure, autonomous infrastructure in the Oracle
Cloud. For more information about Oracle (NYSE: ORCL), please visit
us at www.oracle.com.
Future Product Disclaimer
The preceding is intended to
outline our general product direction. It is intended for
information purposes only, and may not be incorporated into any
contract. It is not a commitment to deliver any material, code, or
functionality, and should not be relied upon in making purchasing
decisions. The development, release, timing, and pricing of any
features or functionality described for Oracle's products may
change and remains at the sole discretion of Oracle
Corporation.
Trademarks
Oracle, Java, MySQL and NetSuite are
registered trademarks of Oracle Corporation. NetSuite was the first
cloud company—ushering in the new era of cloud computing.
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SOURCE Oracle