Oracle enhances supply chain and financial applications with generative AI features

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Oracle enhances supply chain and financial applications with generative AI features
Oracle enhances supply chain and financial applications with generative AI features

Oracle stated that it is integrating generative artificial intelligence aspects across its corporate software lineup, intensifying the competition with Microsoft and other tech companies to provide enterprise customers with technology.

The fight between Oracle (ORCL.N) and Microsoft and other tech companies to offer enterprise customers technology is getting more intense as Oracle announced that it is integrating generative artificial intelligence elements across its corporate software lineup.

Many businesses rely on Oracle’s cloud-based software solutions to manage their finance, supply chains, and human resources departments. The Austin, Texas-based company stated that the new features are made to save time for those individuals by doing tasks like creating job descriptions, summarizing complex data, and generating reports.

The features are an essential component of Oracle’s strategy to overtake corporate software competitors like Microsoft (MSFT.O), which opens a new tab and is also vying for business with its “Copilot” AI features. Oracle entered the cloud computing industry somewhat late. Oracle has teamed with Cohere, an AI startup started by former Google employees, and has invested billions of dollars in Nvidia chips.

Oracle has identified about 50 different features where the AI system has been tuned to handle specific tasks, such as writing up a product description in a catalog based on data in a company inventory system or summarizing a lengthy chain of back-and-forth price negotiations. This is in contrast to consumer apps like ChatGPT, where users simply type requests to a chatbot.

According to Steve Miranda, executive vice president of applications development at Oracle, the strategy was designed to boost efficiency while avoiding some of the drawbacks of existing AI technologies, such as the propensity to fabricate information.

“We believe we have a wide range of use cases that we launched swiftly. That will provide us with some excellent input, but it will be done very carefully to minimize any potential problems, according to Miranda.

According to Miranda, Oracle does not intend to impose additional fees for the new functionality.

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