Key Takeaways
- Oracle announced new artificial intelligence (AI) features in its cloud applications suite and expanded the regions where it offers Oracle Database@Azure in partnership with Microsoft.
- Businesses using the Oracle Fusion Cloud Applications Suite can use the new generative AI capabilities to enhance the employee and customer experience, the company said.
- Cloud products and services represent a large portion of Oracle’s revenue, accounting for 83% of the company’s total revenue in the last quarter.
Oracle (ORCL) announced new artificial intelligence (AI) features integrated into its cloud application systems and an expansion of the regions where it offers Oracle Database@Azure in partnership with Microsoft (MSFT) on Thursday.
With the new generative AI (GenAI) capabilities, businesses using the Oracle Fusion Cloud Applications Suite can leverage AI to “help customers improve decision making and enhance the employee and customer experience,” Oracle said in a release.
The Oracle Fusion Cloud Applications Suite provides enterprise customers with the company’s software as a service (SaaS) applications with AI tech integrated.
The new features are built on Oracle cloud infrastructure and support “over 50 generative AI use cases that are embedded within Oracle Fusion Applications and designed to respect customers’ enterprise data, privacy, and security.”
“We have been using AI in our applications for several years and now we are introducing more ways for customers to take advantage of generative AI across the suite,” Oracle Executive Vice President of Applications Development Steve Miranda said.
The company also announced that Oracle Database@Azure would be expanding the regions in which it offers the Oracle and Microsoft collaboration.
Customers can now place orders for Oracle Database@Azure in Frankfurt, Germany, in the debut of Oracle Database@Azure in Europe.
The company added that in order “to meet the growing customer demand this year, the service will further run in the Australia East, Brazil South, Canada Central, France Central, Central India, Italy North, Japan East, Southeast Asia, Sweden Central, United Kingdom South, Central United States, South Central United States, and United Arab Emirates North cloud regions.”
Cloud products and services represent a large portion of Oracle’s revenue. In the third quarter of fiscal 2024, cloud services and licenses drove $32.39 billion in revenue, 83% of the company’s total revenue for the quarter.
Oracle shares were little changed Thursday trading at $125.52 as of 3:15 p.m. ET Thursday. In the past year, the stock has gained nearly 50%.