Oracle: Gen AI Adoption
According to the senior vice president of Oracle, Chris Chelliah, the adoption of Generative AI (Gen AI) is accelerating at a pace faster than that of smartphones or PCs. Gen AI is now at the forefront of discussions among enterprises worldwide and has revolutionized the way Oracle develops its new products.
Transforming Business Processes
Oracle introduced AI for enterprises over three years ago, focusing on enhancing business processes through generative AI to address real-world problems faced by customers. Today, Oracle’s Generative AI not only supports customers but also plays a pivotal role in the development of new products within the company.
Rapid Growth and Evolution of AI
With ongoing partnerships and the integration of AI/ML capabilities into its technology stack, Oracle is gearing up for a new era driven by AI. Saravanan Palanivel, Vice President of Cloud Engineering at Oracle India, highlights the significant advancements in AI capabilities. The learning curve for AI models to achieve human parity in reading comprehension and language understanding has steepened significantly, surpassing previous milestones in speech recognition, handwriting recognition, and image recognition.
Future Growth and Economic Impact
As AI adoption and capabilities continue to evolve, significant investments are pouring into this space. It is projected that AI will experience nearly 40% annual growth through the remainder of the decade, contributing an estimated net increase of nearly $16 trillion to the global GDP between now and 2030.
Conclusion
The rapid adoption and evolution of Generative AI present exciting opportunities for enterprises and technological advancement. As Oracle continues to leverage the power of AI in transforming business processes and developing innovative products, the future holds great promise for further growth and economic impact driven by AI technologies.
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