Oracle, a technology giant headquartered in Texas, is intensifying its investment efforts in artificial intelligence (AI) within India, aiming to assist businesses in expanding their capabilities in AI and generative AI (GenAI).“Oracle brings AI to the enterprise at every layer of the stack, from software as a service (SaaS) apps, AI services, data, and infrastructure,” said Chris Chelliah, Senior Vice President of Technology and Customer Strategy, Oracle Japan and Asia Pacific, on the sidelines of the Oracle Data and AI Forum in Bengaluru.
The most recent release of Oracle's converged database, Oracle Database 23ai, is in line with the company's strong emphasis on AI. This updated version introduces Oracle AI Vector Search and over 300 other significant features aimed at streamlining AI integration with data, expediting application development, and supporting essential workloads.
“The new AI Vector Search capabilities enable customers to securely combine searches for documents, images, and other unstructured data with searches on private business data, without moving or duplicating it. Oracle Database 23ai brings AI algorithms to where the data lives instead of moving the data to where the AI algorithm lives. This allows AI to run in real-time in Oracle databases and greatly improves the effectiveness, efficiency, and security of AI”, Oracle said in a statement.
Oracle Database 23ai can be accessed through Oracle Cloud Infrastructure (OCI) via Oracle Exadata Database Service, Oracle Exadata Cloud@Customer, and Oracle Base Database Service, in addition to being available on Oracle Database@Azure. “Oracle Database 23ai is a game changer for enterprises worldwide, and because of the importance of the breakthrough AI technology in this release, we are renaming it to Oracle Database 23ai”, said Juan Loaiza, Executive Vice President, Mission-Critical Database Technologies, Oracle.
Oracle recorded a third-quarter cloud revenue of $5.1 billion, marking a 24 percent increase in constant currency. Meanwhile, its total revenue grew by 7 percent in constant currency to reach $13.3 billion. Oracle's fiscal year concludes on May 31. In its endeavor to enhance global AI initiatives, the company is projected to allocate approximately $10 billion toward data center expansion. Presently, Oracle operates 68 customer-facing cloud regions, with two newly operational regions added this year.