Oracle has announced a new suite of Adaptive Intelligent Apps brings artificial intelligence to finance, procurement, supply chain and other function professionals. The new capabilities – which will be built into existing cloud-based apps such as Oracle ERP Cloud and Oracle Supply Chain Management Cloud. They will make it possible to analyse historical trends and business risk data, with the apps able to suggest which suppliers should be paid when and the appropriate discount rates. This use of AI offers the ability to take advantage of dynamic discounting and to optimise working capital, as wellas to build “relationships that drive better engagement with suppliers,” the company said in a statement.
The supply chain app includes capabilities that enable insights from big data sources such as equipment connected via the internet of things (IoT). It uses predictive analytics and machine learning to detect and analyse signals in devise data and then to act on those insights.
Oracle’s press release quoted IDC analyst David Schubmehl, research director, cognitive/artificial intelligence systems, who said: “The success of [artificial intelligence and AI-enabled applications] greatly depends on the quality and quantity of the ingested data which determines the resulting recommendation, action, or output delivered. Vendors with a strong foundation of first and third-party data to fuel the machine learning have a clear and distinct advantage in the market providing strong targeted AI-enabled solutions for their customers.”