Oracle adds gen AI features to supply chain, finance software

Oracle said on Thursday that it was expanding the capabilities of its corporate software suite to include generative artificial intelligence.

Oracle will be increasing its rivalry with Microsoft and other tech companies to sell the technology to corporate clients as a result of this move.

Oracle's cloud-based software offerings are critical to many businesses in managing their finances, supply chains, and human resources departments, and the Austin, Texas-based company said the new features are intended to save time for those people by generating reports, summarizing complex data, and drafting job descriptions, among other tasks.

The features are an essential component of Oracle's strategy to overtake corporate software competitors like Microsoft, which is also vying for business with its "Copilot" AI features. Oracle entered the cloud computing space 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 discovered about fifty distinct areas where the AI system has been modified to manage particular duties, such as creating a product description for a catalog based on information from an organization's inventory system or summarizing an extensive series of back-and-forth price negotiations with a supplier. As opposed to this, users of consumer apps like ChatGPT only type queries into a chatbot. Before being finished, AI-generated data is always examined by a human employee.

The strategy was created to increase productivity while avoiding some of the drawbacks of existing AI technology, such as the propensity to fabricate information, according to Steve Miranda, executive VP of applications development at Oracle.