Important points
- Oracle announced new artificial intelligence (AI) capabilities for its suite of cloud applications and partnered with Microsoft to expand its Oracle Database@Azure footprint.
- Companies using Oracle Fusion Cloud Applications Suite can use new generative AI capabilities to improve employee and customer experiences, the company said.
- Cloud products and services make up the bulk of Oracle's revenue, accounting for 83% of the company's total revenue last quarter.
Oracle (ORCL) on Thursday announced new artificial intelligence (AI) capabilities integrated into its cloud application systems and a partnership with Microsoft (MSFT) to expand the region in which it offers Oracle Database@Azure.
New Generative AI (GenAI) capabilities enable companies using Oracle Fusion Cloud Applications Suite to leverage AI to “improve customer decision-making and enhance employee and customer experiences,” Oracle releases. mentioned in.
Oracle Fusion Cloud Applications Suite provides enterprise customers with the company's software-as-a-service (SaaS) applications integrated with AI technology.
The new features are built on Oracle's cloud infrastructure and support “more than 50 generative AI use cases built within Oracle Fusion Applications and designed to respect customers' enterprise data, privacy, and security.” do.
“We've been leveraging AI in our applications for several years, and now we're introducing more ways our customers can leverage generative AI across our suite,” said Steve Miranda, Oracle's executive vice president of application development. ” he said.
The company also announced that Oracle Database@Azure is expanding the regions where Oracle and Microsoft collaboration is available.
With the European debut of Oracle Database@Azure, customers can now order Oracle Database@Azure in Frankfurt, Germany.
The company said: “To meet increased customer demand this year, the service will be extended to eastern Australia, southern Brazil, central Canada, central France, central India, northern Italy, eastern Japan, Southeast Asia, central Sweden, southern UK, central US, Cloud regions in the south-central United States and northern United Arab Emirates.
Cloud products and services make up the majority of Oracle's revenue. In the third quarter of 2024, cloud services and licenses generated $32.39 billion in revenue, which accounted for 83% of the company's total revenue for the quarter.
Oracle stock was little changed on Thursday at $125.52 as of 3:15 p.m. ET Thursday. The stock price has increased nearly 50% over the past year.
