As global enterprises seek to enhance the efficiency and competitive advantage of various functional departments by exploring generative artificial intelligence, Oracle is also heavily investing in its products to meet the urgent market demand. As an example of the company's new initiatives, Oracle is launching new AI capabilities in its Fusion Cloud Customer Experience (CX) to help sales, marketing, and service agents automate and accelerate their workflows.
These features are now available, just over a month after Oracle introduced more than ten generative AI capabilities across its entire Fusion Cloud application suite, demonstrating the company's strong commitment to this new technology. Other customer relationship management (CRM) products on the market, such as Salesforce and Hubspot, are also actively leveraging the power of language models to simplify workflows at different levels.
Katrina Gosek, Vice President of Oracle Cloud CX Product Strategy, said, "Artificial intelligence continues to prove its ability to enhance user experience, and we are just beginning to see what this technology can do for customer service, sales, and marketing. The new AI capabilities embedded in Oracle Cloud CX will enable organizations to improve customer satisfaction and drive more sales through automated processes, allowing marketing, sales, and service professionals to spend valuable time on more meaningful tasks, while technology helps attract and serve buyers in a more precise manner."
So, what new features will Oracle CX Cloud bring?
The core functionality of Oracle Fusion Cloud CX lies in connecting business data from different touchpoints and utilizing this information through a range of cloud-based sales, marketing, customer service, and e-commerce tools. The platform aims to help organizations effectively attract customers through physical and digital channels, thereby improving customer retention, increasing sales, and fostering brand loyalty.
However, despite having rich data and tools to process it, teams still need to perform a significant amount of manual work. This is where Oracle AI intelligence comes into play.
According to the company, with the latest updates, agents using Cloud CX service products will no longer need to manually type answers for customer queries. Instead, the built-in AI will work as an assistant, automatically generating context-aware responses, enabling them to quickly handle cases and utilize idle time to focus on handling complex requests. Additionally, the new features will optimize schedules for field service personnel by considering parameters such as job duration and travel time to reach customers, recommending the most suitable cases for them.
"All Cloud CX generative AI capabilities are designed and built based on the principles of respecting customer enterprise data, privacy, and security, as customer data is not shared with large language model (LLM) providers or visible to other customers... To further protect sensitive information, role-based security is directly embedded into Oracle Fusion Applications workflows, recommending only the content that end users have the right to view," said Gosek.
For enterprise users using Oracle Marketing and Oracle Sales, the company states that the new generative AI capabilities will help drive better interactions through targeted content creation, such as creating product promotion emails or developing content for landing pages. This will help accelerate their workflows and achieve deals faster.
Oracle also points out that it uses AI-based user modeling, job title normalization, and topic interest mapping to help marketers and salespeople identify the right and most easily reachable contacts in target accounts. Additionally, salespeople will receive highly targeted, AI-generated recommendations to offer specific products and gain deeper insights into buyers' interests, increasing interactions and inspiring purchase decisions.
"These new Oracle CX models run on Cohere, but the company provides choices to customers and has other partners available. Customers can also bring their own models," added Gosek.
Over 50 generative AI capabilities in Fusion Cloud applications
With these new features and the functionalities announced last month, Oracle now has over 50 generative AI capabilities handling different functions in its Fusion Cloud applications.
"Oracle's 50+ generative AI capabilities help drive productivity in CX, HCM, and ERP applications. Many organizations have already started leveraging Oracle's generative AI capabilities, and Oracle is working with customers to help them figure out how to improve productivity, save costs, or create revenue streams. For example, in HCM, the new generative AI capabilities can help managers conduct employee performance evaluations in seconds by creating summaries of peer feedback and overall performance," said Gosek.
However, it is currently unclear whether Oracle will surpass these partner-driven AI efforts and introduce its own AI models to accelerate AI capabilities in its products. When asked about this, Gosek declined to comment. It is worth noting that most other players in this category, including SAP, Hubspot, and Salesforce, have chosen a partner-driven approach.
According to McKinsey, generative AI presents a huge opportunity in enterprise capabilities, with the potential to generate profits of $26 trillion to $44 trillion annually for global enterprises.
