Multinational Computer Technology CorporationOracle(Oracle) is strengthening its generative AI capabilities withcloud computingCompetition is becoming increasingly fierce, and more and more companies are joining the AI field. AI Boom - ChatGPT chatbot was launched in November 2022, driving increased demand for cloud computing services and data centers, because AI model training requires a lot of data, and cloud computing provides access to huge data sets.
Oracle has introduced generative AI capabilities into its cloud infrastructure and applications to complement the traditional AI technologies already embedded there. Rondy Ng, Oracle's executive vice president of application development, told CNBC: "Traditional AI is very good at detecting patterns or predicting numbers... but you can't predict numbers with a large language model. So we combined the ability to predict numbers with the ability to interpret text. The two together are very powerful, and you can't have one without the other. The number prediction part has matured over the past many years. We will continue to evolve it as part of the product, and this process will not stop. Generative AI is a hot topic right now."
In March, Oracle announced that it had embedded additional generative AI capabilities in applications such as finance, supply chain, human resources, sales, marketing, and service. These generative AI capabilities can perform tasks such as generating financial reports and drafting job ads, improving productivity and reducing business costs, Oracle said.
This follows the company’s announcement in January that it was implementing generative AI into its technology stack.up to dateMeasures.
CEO Safra Catz said in March that the company signed several "large new cloud infrastructure" contracts during its fiscal third quarter. Oracle said cloud revenue grew 251% year-over-year to $5.1 billion.
Among future market opportunities, Ellison said he sees more and more national and local government applications running on platforms such as Oracle Cloud Infrastructure, adding that the company is in talks with several countries for standalone regions.
Oracle announced in March that it will invest more than $8 billion in Japan over the next 10 years to develop cloud computing and artificial intelligence infrastructure. Oracle and Nvidia announced in March that they will work together to provide independent AI solutions to customers around the world.