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As global enterprises continue to look at generative AI to drive efficiencies across functions and gain a competitive edge, Oracle is building the technology front and center across its products to meet the demand. Case in point: the company’s move to launch new AI smarts across Fusion Cloud Customer Experience (CX) to help sales, marketing and service agents automate and accelerate critical workflows.
Available to use right away, the features come more than a month after the Larry Ellison-founded company launched over a dozen generative AI capabilities across the entire suite of Fusion Cloud applications — signaling its commitment to the novel technology. Other CRM offerings in the market, including Salesforce and Hubspot, are also moving aggressively to tap the power of language models to streamline workflows at different levels.
“AI is continuously proving its ability to enhance user experiences and we are only beginning to see what this technology can do for customer service, sales, and marketing,” said Katrina Gosek, vice president of product strategy for Oracle Cloud CX. “The new AI capabilities embedded within Oracle Cloud CX will enable organizations to enhance customer satisfaction and drive more sales by automating processes that enable marketing, sales, and service professionals to spend their quality time on more meaningful tasks while the technology is helping to engage and serve buyers in a more precise manner.”
What’s coming to Oracle CX Cloud?
At the core, Oracle Fusion Cloud CX connects business data from different touchpoints and mobilizes that information with a suite of cloud-based tools for sales, marketing, customer service and e-commerce. The goal of the platform is to help organizations effectively engage their customers across physical and digital channels to improve customer retention, up-sell and brand advocacy.
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But, even with data and tools to act on that data, teams have to do a lot of manual work in between. This is where Oracle’s AI smarts come into play.
According to the company, with the latest update, agents using the service offering of Cloud CX will no longer have to type answers for customer queries. Instead, the AI under the hood will work as an assistant and automatically craft contextually-aware responses, enabling them to handle cases quickly and use the free time to focus on complex requests. The new capabilities will also optimize schedules for on-field service agents by recommending the most suitable cases for them, considering parameters like the duration of the job and the travel time to reach the customer.
“All Cloud CX generative AI capabilities are built and designed to respect customers’ enterprise data, privacy, and security as no customer data is shared with large language model (LLM) providers or seen by other customers… 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,” Gosek told VentureBeat.
For enterprise users leveraging Oracle Marketing and Oracle Sales, the company says the new generative AI features will help drive better engagement with targeted content creation, such as producing an email for product promotion or creating content for landing pages. This will help them accelerate workflows and close deals faster.
Oracle also notes it uses AI-based look-alike modeling for contacts, job title normalization and topic interest mapping to help marketers and sellers identify the right/most reachable contacts at target accounts. Further, sellers will get highly targeted, AI-produced recommendations on specific products to offer and insights into the buyer’s interest to increase engagement and motivate purchase decisions.
“These new Oracle CX models run on Cohere, but the company gives customers a choice and has other partners available to use. Customers can also bring their own models,” Gosek added
More than 50 generative AI features across Fusion Cloud apps
With the new features and the ones announced last month, Oracle now has more than 50 generative AI smarts handling different functions across Fusion Cloud applications.
“Oracle’s 50+ Gen AI capabilities can help drive productivity throughout CX, HCM, and ERP applications. Many organizations are starting to utilize Oracle’s gen AI capabilities, and Oracle is working with customers to help them figure out how to become more productive, save on costs, or create revenue streams. In HCM, for instance, new gen AI capabilities can help managers with employee performance reviews by creating a synopsis of peer feedback and summarizing overall performance in just a few seconds,” Gosek said.
However, it remains to be seen if the company will go beyond these partner-driven AI efforts and launch its own AI model to accelerate AI functions within its products. Gosek refused to comment when VB asked about the subject. Notably, most other players in this category have opted for the partner-driven approach, including SAP, Hubspot and Salesforce.
According to McKinsey, generative AI is a massive opportunity within enterprise functions and has the potential to generate $2.6 trillion to $4.4 trillion in global corporate profits every year.
