July 21, 2024
Oracle's New AI for Finance and Supply Chain
AI

Oracle’s New AI for Finance and Supply Chain

The software company, Oracle announced in a Thursday (March 14) press release that they have introduced new generative AI capabilities integrated into existing business workflows in various sectors including finance, supply chain, HR, sales, marketing, and service.

Moreover, the release highlights an expansion of the Oracle Guided Journeys’ extensibility framework, allowing customers and partners to integrate additional generative AI capabilities. The offering is developed using Oracle’s cloud infrastructure, ensuring that customer data remains secure without being shared with large language model (LLM) providers or other customers.

The company emphasized that individual customers are the sole entities permitted to utilize custom models trained on their data. To enhance data security, role-based security is directly embedded into Oracle Fusion Applications workflows, ensuring that end-users only have access to the recommended content they are entitled to view.

This launch coincides with the growing significance of generative AI in reshaping human-computer interactions in the workplace. Beerud Sheth, CEO of conversational AI platform Gupshup, highlighted the ability of computers to mimic human behavior, a development that has fundamentally transformed society’s relationship with technology.

The report further underscores the versatility and efficiency of generative AI, surpassing earlier AI models in automating repetitive tasks and leveraging data for informed decision-making. Jake Joraanstad, CEO of Bushel, emphasized the tendency to overestimate short-term technological advancements while underestimating their long-term impact.

The emergence of ChatGPT brought artificial intelligence and advanced deep learning into mainstream discourse, according to Andy Hock, Senior Vice President of Product and Strategy at Cerebras. This technological advancement has led to a paradigm shift in the application and adoption of AI across various industries.

The integration of generative AI into business workflows signifies a significant advancement in leveraging technology to streamline operations and enhance decision-making processes. As the capabilities of AI continue to evolve, businesses are poised to unlock new opportunities for innovation and growth.

Image by Flickr

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