US-based technology giant Oracle plans to double its artificial intelligence (AI) investments in India. “Oracle brings AI to enterprises in Software-as-a-Service (SaaS) applications, AI services, data, and infrastructure,” said Chris, senior vice president of technology and customer strategy at Oracle Japan Asia Pacific.・Mr. Sheria stated during the hearing. Member of Oracle Data & AI Forum, Bangalore. “Our future plans in India are to double down on our investments with a focus on data,” he added.
The latest version of the company's database, Oracle Database 23ai, includes Oracle AI Vector Search, a technology designed to make it easier to use AI on your data, speed application development, and improve performance for mission-critical tasks. Over 300 new key features have been introduced. Oracle Cloud Infrastructure is accessible through several services, including Oracle Exadata Database Service, Oracle Exadata Cloud@Customer, and Oracle Base Database Service.
“New AI vector search capabilities enable customers to securely search documents, images, and other unstructured data along with private business data without moving or duplicating data. Oracle Database 23ai , deploys AI algorithms directly to where the data resides, enhancing the speed, effectiveness, efficiency, and security of AI applications running in real-time on Oracle databases,” the company said in a statement.
Additionally, Cheliah said the company launches a new cloud region every 28 days. Currently, Oracle operates 68 customer cloud regions, two of which were launched this year. Oracle's cloud revenue (including Infrastructure as a Service and SaaS) reached $5.1 billion in the third quarter, an increase of 24% excluding currency effects. Meanwhile, overall revenue for the quarter increased by 7% to $13.3 billion. Oracle's fiscal year ends on May 31st.
