Oracle CEO Mark Hurd Shares Cloud Predictions at Oracle OpenWorld
Oracle OpenWorld is where Oracle unveils its latest product innovations and general improvements to its worldwide user base. Oracle OpenWorld 2018 unveiled that artificial intelligence is now an integrated core component of Oracle Cloud applications, including Oracle Enterprise Resource Planning Cloud.
At his annual OpenWorld keynote, Oracle CEO Mark Hurd predicted that “all cloud apps will include AI” by 2025. Oracle is working to secure itself as a leader in the rapidly growing cloud applications and services market by offering fully integrated AI capabilities.
The Impact of AI on Oracle ERP Cloud Customers
This will mean numerous things for Oracle ERP Cloud users and customers. Highlighting real-world use cases for embedded AI, Hurd stated, “30 percent of finance organizations' time is spent moving around spreadsheets.” A huge amount of the finance professional’s workweek can be freed up with the help of AI automation, “allowing people to focus on higher-order tasks,” according to Hurd.
Finance professionals are already used to saving time and manual effort with Oracle Cloud’s deep cross-product integrations. These provide greater insight into the financial performance of all components of business by using data and analytics from every department and operating vertically. With the help of AI, this knowledge can be generated automatically from vast corporate databases. Oracle ERP Cloud is driven by underlying databases, which improves analytics and security.
In addition to AI-driven intelligent process automation, Oracle ERP Cloud has added an expense-reporting chatbot and automated vendor or supplier assessment functionalities. The chatbot will be able to speed up the processing and improve the accuracy of employee-submitted expense reports. This new chatbot functionality allows employees to handle their expenses without the need for a dedicated application.
AI should also help users develop greater insight from data that is collected and assessed across the full range of Oracle ERP Cloud applications, which include:
- Oracle Financials Cloud
- Oracle Procurement Cloud
- Oracle Project Portfolio Management Cloud
- Oracle Risk Management Cloud
- Oracle Enterprise Performance Management Cloud
Oracle ERP Cloud Allows for Easy Integration to SaaS applications
Oracle ERP Cloud can also be easily integrated with other Oracle Cloud application suites. For example, product-focused organizations can extend the procurement functionalities in ERP Cloud by pairing it with Oracle Supply Chain Management Cloud.
Learn more about Oracle ERP Cloud: