Oracle Fusion Cloud Application Suite adds dozens of gen AI features
Oracle announced the addition of over 50 new generative AI features to its Oracle Fusion Cloud Application Suite. These new capacities are embedded in existing business workflows across finance, supply chain, HR, sales, marketing, and service, as well as in an expansion of the Oracle Guided Journeys’ extensibility framework.
Among them ae new features in Oracle Fusion Cloud Enterprise Resource Planning (ERP). Overall, the new features seem to be centered around surfacing insights from data and explaining the data to others in plain narrative language versus dense technical speech.
New features include “insight narratives” that can help identify anomalies, variances, and biases based on pattern recognition; “management reporting narratives” that help finance professionals explain variances and trends impacting the business; “predictive forecast explanations” that help finance professionals generate contextual commentary to explain forecasts produced by predictive models and key factors driving the prediction; “project program status summary generation” which program managers generate executive summaries using details drawn from projects and sub-programs; and “project plan and proposal generation” which helps project managers generate tailored project plans based on opportunity details, similar past projects, and best practices.
Oracle has also made generative AI-related enhancements to Oracle Fusion Cloud Supply Chain & Manufacturing (SCM), Oracle Fusion Cloud Human Capital Management (HCM), and Oracle Fusion Cloud Customer Experience (CX).
These new capacities are directly integrated with a revamped Oracle Fusion Data Intelligence, which is meant to provide Oracle Fusion Cloud Applications customers with data-driven insights that can drive better business decisions. In addition to the new AI capabilities, Oracle Fusion Data Intelligence also features an integration with and prebuilt analytics for Oracle Fusion Accounting Hub, part of Oracle Cloud ERP. Available as an add-on SKU to Oracle Fusion ERP Analytics, this integration enables customers to combine and analyze financial data from multiple accounting systems. Users can discover correlations and irregularities across balances, journals, and sub-ledger transaction details, spanning accounting data from Oracle Cloud ERP and other systems.
“Collecting, analyzing, and contextualizing data can be a time-consuming, error-prone process,” said T.K. Anand, executive vice president of analytics with Oracle. “With Oracle Fusion Data Intelligence, our customers can optimize this process by taking advantage of a comprehensive analytics offering that brings together data, ready-to-use analytics, and prebuilt AI models in the right business context. The new AI capabilities we are adding can help customers further improve decision making and rapidly turn insights into action.”
Oracle nodded to security and private concerns by emphasizing no customer data is shared with large language model (LLM) providers or seen by other customers. In addition, an individual customer is the only entity allowed to use custom models trained on its data. To further protect sensitive information, role-based security is embedded directly into Oracle Fusion Applications workflows that only recommends content that end users are entitled to view.
In other news, Oracle also announced the launch of Oracle Cloud EPM for Sustainability, a new solution in Oracle Fusion Cloud Enterprise Performance Management (EPM) that helps organizations measure and manage sustainability initiatives.
Users can use direct connections and file-based uploads to consolidate disparate data sources to help meet International Financial Reporting (FRS) and Global Reporting Initiative (GRI) standards. For example, organizations can align energy use, fleet mileage, procurement data, and other applicable data sources to meet the requirements of the relevant frameworks and standards. In addition, built-in process management tools help capture all data.
There is also embedded scenario modeling capabilities that let organizations run an unlimited number of scenarios simultaneously to determine the best path forward; built-in pattern recognition capabilities to provide automated alerts on anomalies and variances, while self-service capabilities for filtering, sorting, and visualization enable users to drill into the data via purpose-built dashboards and automated analysis; predictive planning to create and validate forecasts and predict future performance; and narrative reporting capabilities to align data with relevant reporting standards and produce reports with contextual detail that can be shared with key stakeholders.
“Many organizations are beginning to treat sustainability reporting requirements with the same rigor, governance, and technical expertise as financial reporting,” said Hari Sankar, group vice president of product management at Oracle. “With Oracle Cloud EPM for Sustainability, our customers can leverage a trusted solution that embeds AI and other advanced technologies to help improve efficiency, deliver insights, promote compliance, and effectively manage their progress on sustainability initiatives.”
