ORACLE CLOUD’S CUTTING EDGE INNOVATIONS
ORACLE CLOUD’S CUTTING EDGE INNOVATIONSThe Oracle CloudWorld Tour Mumbai 2024 served as an ideal platform for businesses to stay competitive and relevant in today’s rapidly changing environment. By focusing on cloud, data, and AI solutions, the event enabled enterprises to accelerate growth and drive transformation across infrastructure, business processes, and customer experiences. Participants gained valuable insights and learnt about cutting-edge innovations that helped them overcome complex challenges and thrive in the digital age.
Oracle CloudWorld Tour Mumbai 2024 presented a unique opportunity for customers and partners to engage with the creators of cutting-edge cloud applications and technologies, as well as the community of users who have implemented them successfully. Through this interaction, attendees gained first-hand knowledge about the latest advancements in cloud computing and understood how these solutions can be applied to drive business growth and innovation.
At Oracle Cloud World Mumbai 2024, Oracle introduced several innovative features designed to enhance logistics operations and leverage the power of AI for its customers. The new logistics capabilities within Oracle’s Fusion Cloud Supply Chain & Manufacturing (SCM) portfolio aim to improve efficiency, reduce costs, and streamline processes for customer logistics operations.
Some of the key enhancements include:
Expanded Business Intelligence: Advanced analytics and intuitive interfaces enable businesses to make data-driven decisions.Improved Logistics Network Modeling: This feature allows companies to design and implement intelligent supply chain networks, optimizing their logistics operations.
Trade Incentive Program: A new program that encourages businesses to explore Oracle’s wide range of offerings, driving growth and fostering collaboration.
Updated Oracle Transportation Management Mobile App: The app has been upgraded to provide users with real-time visibility and control over their logistics operations.
Enhanced Workbenches: These workbenches offer improved functionality, allowing businesses to manage their logistics processes more efficiently.
By introducing these cutting-edge features, Oracle is helping its customers revolutionize their logistics operations, boost efficiency, and stay ahead of the competition.
Oracle’s recent advancements in logistics and AI integration solidify its status as a trailblazer in the technology sector. By prioritizing user-friendly solutions, Oracle demonstrates its dedication to making cutting-edge advancements accessible to businesses worldwide. These groundbreaking upgrades hold the potential to not only transform logistics in India but also to reshape global business operations. Oracle’s commitment to innovation sets the stage for a more efficient and prosperous future, promising a brighter tomorrow for companies across the world.
Numerous leading corporations across various industries are embracing Oracle Cloud to expedite their digital transformation journeys. Some notable organizations that have adopted Oracle Cloud solutions include CRIF High Mark, Max Life Insurance, Tata Motors, Kotak Mahindra Bank, Apollo Tyres, and Fortis Healthcare, among others.
These companies have chosen Oracle Cloud for its innovative solutions in cloud-based applications and platform services. By leveraging Oracle’s comprehensive suite of offerings, these corporations are well-positioned to streamline operations, boost efficiency, and drive growth in their respective sectors.
As more organizations continue to realize the benefits of cloud-based technologies, Oracle’s success stories demonstrate the value and versatility of their solutions, making them a preferred choice for businesses seeking to stay ahead in the rapidly evolving digital landscape.
“Oracle through its Oracle Cloud Infrastructure (OCI), Oracle Cloud Applications and Industries solutions portfolio is playing a key role in driving digital transformation in India,” said Shailender Kumar, senior vice-president and regional managing director, Oracle India and NetSuite JAPAC.
“While traditionally dominant sectors like BFSI, telecom, and the public sector continue to grow, healthcare, manufacturing, education and other emerging sectors are also leveraging the Oracle Cloud, giving the company diverse growth vectors,”
According to Kumar, the rising demand for modernization across industries is one of the key factors driving the increased adoption of Oracle Cloud. Furthermore, the integration of AI-powered technologies, the growing prevalence of multi-cloud and hybrid cloud environments, the rising importance of data security, and the need to accelerate time-to-market are all contributing to the heightened demand for Oracle Cloud solutions.
As businesses navigate the complexities of digital transformation, they are seeking solutions that offer scalability, flexibility, and robust security features. Oracle Cloud addresses these needs by providing a comprehensive suite of cloud-based services that enable organizations to stay competitive in the ever-evolving digital landscape.In summary, the growing demand for Oracle Cloud can be attributed to the increasing need for modernization, AI integration, multi-cloud and hybrid cloud adoption, data security, and faster time-to-market, making it a preferred choice for businesses seeking to thrive in the digital age.
“Oracle’s India growth strategy aligns perfectly with the government’s vision of a digitally empowered nation. The company’s focus on AI-powered solutions, strategic partnerships, and industry-specific offerings positions it as a key player in India’s digital transformation journey,” Kumar added.
Indian Farmers Fertiliser Cooperative Limited (IFFCO) launched a mobile application called ‘IFFCO Kisan Uday’ to simplify the process of booking, viewing, and managing drone-based sprayings of their nano fertilizers for farmers. The cloud-native app, developed on Oracle Cloud Infrastructure (OCI), enables farmers to easily access IFFCO’s services and scan nano products to obtain detailed information. This initiative by IFFCO aims to empower farmers with modern tools and practices, promoting efficient agricultural practices and contributing to sustainable farming in India.
Anil Kumar Gupta, Director (IT Services) said, “This innovation has increased IFFCO’s need for cloud computing, prompting the search for a reliable cloud vendor. The cloud infrastructure allows IFFCO to adapt to market changes, accelerate innovation, and improve application performance while reducing operational burdens from legacy systems.
“The Indian agriculture market is undergoing a major transformation as farmers are rapidly adopting new technologies to boost productivity and improve profitability,” said Shailender Kumar, senior vice president and regional managing director, Oracle India and NetSuite JAPAC. “With OCI, IFFCO can revolutionize farming practices and drive positive change in rural communities across India. We are delighted to expand our collaboration with IFFCO and contribute towards building a brighter and more prosperous future for Indian farmers.”
At the event, Oracle introduced significant AI enhancements for its Autonomous Database, aiming to streamline the integration of AI and advanced machine learning into applications. The key updates included:
Autonomous Database Select AI: This feature enables developers to create AI-driven applications directly from SQL, allowing users to interact with their data using natural language queries.
Spatial enhancement in Oracle Machine Learning: This improvement facilitates the incorporation of location-based insights into machine learning models, providing a deeper understanding of spatial relationships.
A user-friendly “no-code” model monitoring interface: This interface simplifies the monitoring and management of machine learning models, making it more accessible for users without extensive coding experience.
These innovations demonstrate Oracle’s commitment to advancing AI capabilities and empowering businesses to harness the power of machine learning more easily and effectively. By providing tools that streamline the integration of AI into applications, Oracle is helping organizations unlock new possibilities and drive innovation across various industries.
“Our goal is to help customers leverage AI to optimise costs and performance and minimise the need for human action. Oracle Fusion Applications business has been growing and Oracle Fusion Cloud ERP is one of the biggest contributors, growing at 34%,” said Deepa Param Singhal, vice president, cloud applications, Oracle India.
Oracle CloudWorld 2024 proved to be a groundbreaking event that showcased the incredible potential of AI and cloud technology in shaping our future. Through a series of thought-provoking sessions, engaging panel discussions, and captivating demonstrations, Oracle demonstrated the power of a digital core that fuels innovation and drives transformation across industries.
The event featured a packed agenda that immersed participants in the limitless possibilities of technology.
Key highlights included:
Announcements of AI enhancements for Oracle Autonomous Database, enabling easier integration of AI and machine learning into applications.
Introduction of new logistics features in the Fusion Cloud Supply Chain & Manufacturing portfolio, aiming to improve customer logistics operations.
A focus on the importance of a digital core in driving future innovation, emphasizing the potential of cloud technology and AI to revolutionize business processes and customer experiences.
Oracle CloudWorld 2024 brought together industry leaders, experts, and technology enthusiasts to explore the transformative power of cloud and AI. Through this visionary event, Oracle continues to shape the future of technology and redefine the boundaries of innovation.
Oracle Database 23ai, the latest version of Oracle’s flagship database, introduces a range of groundbreaking features designed to streamline the integration of AI with data, accelerate application development, and enhance mission-critical task performance.
Key highlights include:
Oracle AI Vector Search: This new feature simplifies the process of searching and analyzing large datasets by converting data into vector representations for efficient comparison and retrieval.
Over 300 new major features: These enhancements focus on improving developer productivity, data management, and security, providing businesses with the tools they need to tackle complex challenges and drive innovation.
Oracle Database 23ai is accessible through several Oracle Cloud Infrastructure services, including Oracle Exadata Database Service, Oracle Exadata Cloud@Customer, and Oracle Base Database Service. By offering a robust set of features tailored to the needs of modern businesses, Oracle Database 23ai aims to empower organizations to harness the full potential of their data and stay ahead of the competition.
Apollo Health & Lifestyle Limited, a prominent player in India’s retail healthcare sector, selected Oracle Fusion Cloud Enterprise Resource Planning (ERP) to optimize its financial operations and enhance productivity. By adopting Oracle Cloud ERP, Apollo Health & Lifestyle aims to streamline financial processes, boost automation, accelerate reporting, and gain valuable insights for better decision-making.
Oracle Fusion Cloud ERP will enable Apollo Health & Lifestyle to reduce costs, improve controls, and drive innovation. This collaboration demonstrates the company’s commitment to embracing advanced technologies and staying at the forefront of the industry. As a result, Apollo Health & Lifestyle is well-positioned to deliver high-quality healthcare services while maintaining efficient financial operations.
“Innovating our financial operations through technology is pivotal for sustaining the growth trajectory of our entire organization. By integrating Oracle Cloud ERP into our operations, we aim to fortify our financial infrastructure, ensuring agility and efficiency across their business verticals. This will also reflect our commitment to driving sustainable growth amidst the dynamic healthcare landscape in India. Through this initiative, Apollo Health & Lifestyle Ltd endeavors to optimize its resources, streamline operations, and enhance the overall customer experience, ultimately reinforcing its market presence and delivering value to stakeholders”, said Sriram Iyer, CEO, Apollo Health & Lifestyle Ltd.
“Our cloud regions in Mumbai and Hyderabad are running at full capacity, with customers deriving business benefits of scale, price, performance, and reduced costs — it’s multicloud or hybrid cloud. Our next-gen technologies like AI, ML, and edge computing will help our customers unlock new possibilities for automation and intelligent cloud solutions,” said Srikanth Doranadula, Group Vice President, Technology, Oracle India.
Oracle is driving change in industries and dominating some of the biggest transformations in India, be it in banks, insurance, UPI, fintech, NBFCs, the public sector, telco, digital natives, or education, he added.
The increasing demand for Oracle Cloud can be attributed to several factors that are driving the need for cutting-edge technology solutions across industries. These factors include:
Modernization: Organizations are looking to update their legacy systems and embrace modern technologies to stay competitive in the digital era.
AI-powered technologies: The integration of AI into cloud solutions is enabling businesses to optimize processes, improve decision-making, and drive innovation.
Multi-cloud and hybrid cloud environments: Companies are adopting a mix of cloud deployment models to meet their unique needs and enhance flexibility.
Data security: Ensuring the protection of sensitive information is crucial as businesses store and process vast amounts of data.
Efficiency and productivity: Cloud solutions are enabling organizations to streamline operations, reduce costs, and improve overall productivity.
Speed to market: Rapid deployment and scalability offered by cloud solutions allow businesses to bring their products and services to market faster than ever before.
The combination of these factors is fueling the growing demand for Oracle Cloud, as businesses seek advanced technology solutions to tackle the challenges of the modern business landscape and stay ahead of the competition.
Sonny Singh, Executive Vice President and General Manager of Financial Services Global Business at Oracle, shared key insights about the transformation of the banking sector at Oracle CloudWorld.
The main takeaways:
Post-Pandemic Banking Evolution- Banks are aggressively pursuing modernization initiatives- Increased regulatory scrutiny has led to changes in capital adequacy regimes- Regional and specialized banks faced challenges due to interest rate fluctuations.
Technology Integration- India has successfully implemented UPI framework and Aadhaar-based verification-
Banks are increasingly adopting AI for various functions: – Credit decision-making – Financial crime prevention – Customer service personalization – Compliance testing – Cybersecurity threat detection.
Oracle’s Technical Capabilities- Collaboration with NVIDIA enables clustering of up to 32,000 GPUs- Remote Direct Memory Access (RDMA) technology facilitates fast data transfer- Industry-specific applications across multiple sectors- Vertical capabilities integrated into horizontal applications.
Key Banking Priorities
1. Core infrastructure modernization through cloud-native applications
2. Enhanced regulatory capabilities
3. Cybersecurity improvements
4. Financial crime prevention
5. AI capability enhancement
Regulatory Adaptation- Product managers actively monitor regulatory requirements- Customer feedback drives regulatory compliance solutions- Proactive development of ESG solutions- Swift response to regulatory changes, as demonstrated during demonetization
The banking sector continues to evolve with digital transformation, emphasizing customer experience, operational efficiency, and cost reduction while navigating complex regulatory environments.