At Oracle OpenWorld, Oracle announced embedded artificial intelligence capabilities within existing Oracle ERP Cloud, Oracle Human Capital Management Cloud, Oracle Supply Chain Management Cloud, and the Oracle Customer Experience Cloud applications.
While last year Oracle announced its strategy around AI, this year the focus is on embedding artificial intelligence across the full range of Oracle’s cloud apps, not just about customer experience or consumer experience where it started but AI in terms of finance, HR, supply chain, manufacturing and then deeper use and productization in the whole consumer experience area.
The AI focus for Oracle is evolving in two key ways, said Jack Berkowitz, VP of Products and Data Science, Oracle Adaptive Intelligence, in a conversation before the conference. There is much more discussion now about data to give context to machine learning and extending beyond consumer data but also business data to enrich machine learning algorithms. And the second key area is the notion of connected experience across touchpoints, so that, for example, an offer on a website is the same as in email and service center is aware of it as well.
By applying advanced data science and machine learning to Oracle’s web-scale data and an organization’s own data, the new Adaptive Intelligent Apps can react, learn, and adapt in real time based on historical and dynamic customer data
Oracle has built the applications with the notion of supervisory control not by data scientists but by business users, so they can provide intent and direction, said Berkowitz. “This is fundamentally different from what I am seeing from others in the market.”
In the area of finance and procurement Professionals, new AI-powered capabilities streamline financial processes and technology requirements, reduce costs, modernize business processes, and enhance collaboration. By analyzing historical trends and business risk data, finance and procurement professionals can derive suggested discount rates on invoices, optimize cash flow, and create the optimal balance between buyers and suppliers. Organizations can assess business conditions and manage risk using the best outcomes with the most data to enrich supplier profiles and provide optimized payment terms in real time. There is also the ability to optimize working capital using the best supplier terms and discounts, and to build trusted relationships that drive better engagement with suppliers.
For HR professionals, new AI-powered capabilities improve talent management, provide complete workforce insights, and increase operational efficiency. By applying natural language search and deep learning technologies to resumes and job postings, HR professionals are able to find and source the best candidates and determine the likelihood of success and longevity by using insights from previous recruitment engagements and current job indicators, such as sales achievement or performance ratings.
For Supply Chain Professionals, new AI-powered capabilities enable organizations to rethink traditional supply chain systems to make them dynamic, efficient, intelligent, and autonomous. These capabilities in Oracle’s supply chain IoT applications allow supply chain professionals to manage and leverage insights from big data sources, such as connected equipment. The applications use predictive analytics and machine learning techniques to detect and analyze key signals in device data, and then to act on these insights through their associated business functions and connected processes. Whether this is predicting and preventing machine failure before it happens, auto-discovering optimal ways to segment planning data, or auto-tuning planning engines, AI-powered capabilities can transform the way supply chain professionals lead and manage the supply chain.
For manufacturing professionals, AI-powered capabilities enable organizations to meet production goals by enhancing the management of discrete and process manufacturing operations. The new capabilities drive factory and shop floor improvements by demonstrating how incident detection, root cause analysis, and smart resolution are performed within minutes in a connected factory.
For commerce professionals, new AI-powered capabilities enable commerce professionals to improve productivity and business results by operating across multiple sites and channels that blend commerce, marketing, and chatbot capabilities. Natural language and deep learning capabilities provide unique 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. In addition, machine-learning capabilities deliver the best product, promotion, and content recommendations.
For customer service professionals, new AI-powered capabilities empower customer service professionals to streamline processes and enhance the customer experience by utilizing consumer data and relevant news alerts. In addition to optimizing process around frequently asked questions, the new AI capabilities reduce the time between request and resolution across thousands of potential questions and associated answers by leveraging deep learning technologies. This streamlines processes for customer service representatives who handle service requests by providing automated responses based on previous learnings.
For marketing professionals, new AI-powered capabilities empower marketers with the insights needed to better understand their target audiences and optimize offers by utilizing consumer and business data. By looking across different marketing campaigns to gauge individual, group and program response rates, the new capabilities enable marketers to identify how audiences are interacting with content and the optimal pathways for future communication. This enables marketers to optimize campaign execution and results.
For sales professionals, new AI-powered capabilities utilize business data to empower sales professionals with accurate next-step recommendations to close deals and optimize sales offers. The new capabilities prompt sales professionals with smart call points by pulling data from live news and event feeds to surface and prioritize key insights. These powerful insights empower sales teams with up-to-the-minute information about accounts so they are always prepared before making contact.
For more information, go to www.oracle.com.