Oracle also unveiled a new sustainability offering to help companies assess their environmental impact and take action to reduce it.
The multinational tech company Oracle is adding generative artificial intelligence capabilities to its suite of software offerings, bringing the technology within reach for the 14,000 companies that use its Fusion Cloud Applications. The products are used for financial management, human resources, supply chain management, marketing, sales, and customer service. Oracle said the update offers customers more than 50 ways to take advantage of generative AI, which is the same kind of technology that underpins programs like OpenAI’s GPT-4.
“With additional embedded capabilities and an expanded extensibility framework, our customers can quickly and easily take advantage of the latest generative AI advancements to help increase productivity, reduce costs, expand insights, and improve the employee and customer experience,” Oracle executive vice president of applications development Steve Miranda said in a statement.
Potential uses include helping finance professionals explain business trends and forecasts, assisting program managers with project planning, supporting product specialists in generating SEO-friendly product descriptions, creating uniquely tailored job listings, and aiding call center employees in summarizing interactions with customers.
“With the 50+ generative AI features embedded in Oracle Fusion Applications, there is always a human in the loop to approve the generative AI-recommended content.
Alongside the AI announcement, Oracle unveiled a new sustainability offering within its cloud-based financial management software suite. The new sustainability solution can help companies assess their environmental impact and take action to reduce it by consolidating and analyzing data, comparing the outcome of numerous possible scenarios, and even predicting performance, according to Oracle.
The announcement comes on the back of new rules, approved by the Securities and Exchange Commission in early March, requiring publicly traded companies to disclose climate-related risks. The approved rules are less intensive than those originally proposed, due to the removal of a controversial requirement to report emissions generated throughout a company’s supply chain and through customer use, but still require disclosure of climate-related risks by public companies and in public offerings.
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