Oracle Cloud World 2023 was a dynamic and vibrant event that brought together partners, customers, and developers to explore the future of cloud technology. It was a resounding success, drawing thousands of attendees who filled the event with energy and enthusiasm. The conference offered a bustling platform for discussions, learning, and networking, all set against the backdrop of Las Vegas.
The overarching theme of the event revolved around the transformative potential of generative AI and sustainability in shaping the organizations of tomorrow. In this blog post, we will delve into the key highlights and takeaways from this exciting conference.
Some Key Takeaways:
SaaS, PaaS, On-Prem - What's the Focus?
Oracle seems to be firing from all engines this time around, as this was the message this year. It has traditionally been the keynotes that draw the crowds. Oracle's leadership is heard by thousands of attendees every year. Their choreography and stage management are evidently very sophisticated.
Hearing from Safra Catz, Oracle CEO
The first, and arguably the most jam-packed, keynote. This time around, Safra had several guest speakers across a wide range of industries and well-known companies such as Uber, AON, and First Solar. She covered Oracle Cloud Infrastructure (OCI), as well as SaaS ERP, HCM, SCM, and CX. But the biggest surprise was her reference to On-Prem EBS with Emerson. EBS remains a viable and strong option for Manufacturing companies despite SaaS' limitations.Larry Ellison, Chairman of the Board and CTO for Oracle
AI and OCI were emphasized as cost-effective options that deliver productivity and performance. It's reasonable to say that the cloud infrastructure market is maturing and that the days of crazy growth in cloud infrastructure are over. Differentiating itself from the market leader is a bit tricky for Oracle.
Larry emphasized the increasing collaboration with Microsoft as well as efficiencies across multiple industries, including healthcare, agriculture, public services, and automotive. The push into healthcare continues.
Steve Miranda, EVP of Applications Development for Oracle
There was a lot of focus on artificial intelligence. A vast network of Oracle customers is being expanded. Oracle Cloud Fusion Application customers include more than 14,000 Oracle Cloud Fusion Application customers. More than 5,000 have moved from EBS to Cloud Fusion Applications, according to Miranda. Additionally, the following major announcements were made:
- The AI capabilities built into Fusion will benefit existing Cloud Fusion customers. Although he announced AI enhancements related to HCM earlier, Miranda mentioned new features across all Fusion products. Over the next two patches, Oracle Cloud Fusion Applications across Financials, HCM, SCM, and CX will see major AI-based enhancements.
- Last year, B2B commerce was a major focus. It allows this vast network of customers, who can also be suppliers and partners for other customers, to do business seamlessly. An announcement with JPMorgan was made last year. By eliminating customizations, customers can integrate receivables, payables, and cash management business processes with the bank. Oracle is expanding this platform, and additional banks will be added. For customers who struggle with building custom integrations with major financial institutions today, this will be a relief.
-
It was also announced that the Fusion Data Intelligence Platform would be available soon. It will be interesting to see how this platform leverages generative AI capabilities.
Clay Magouryk, EVP of Oracle Cloud Infrastructure Development
Oracle's Cloud strategy relies heavily on OCI, and several new products and investments were announced. As many existing On-Prem customers consider moving to the Cloud, this is a critical market segment for Oracle.
Focus on Industries that traditionally have been sitting on the sidelines:
SaaS for Manufacturing: Clients in industries such as Manufacturing continue to wait and watch before moving core operations to the Cloud. To highlight customer success stories, several sessions, including a manufacturing keynote, were lined up this year. Clients were presented with different strategies for moving to cloud SaaS during these sessions. Manufacturers may not have been accustomed to Cloud SaaS as a solution, but Astec Industries is an example of a success story.
Industry Focused Cloud SaaS Products: Oracle is investing heavily in bringing Cloud SaaS-based industry solutions to industries such as healthcare and retail. Here’s a roadmap for setting you and your organization up for a successful migration:
Final Thoughts:
- Focus on AI Across Cloud: SaaS, PaaS, and IaaS, all of it!Cutting costs won't solve the problem. Business process transformation, Cloud adaptation, better data, and building efficiencies across processes are key to Cloud success.
- What Now with R12: Clients who are staying with R12 for now have prioritized Oracle Cloud Infrastructure (OCI).
- Partner IP: Cloud has enabled many small and mid-size partners to demonstrate unique capabilities while developing an industry - and product-specific solution in EBS required heavy investment and commitment. A combination of preconfigured Cloud apps and bolt-ons based on OIC could be used.
- Collaboration with Other Cloud Infrastructure Providers: Within the IaaS space, Oracle is actively exploring multi-cloud strategies with other cloud providers. I'm looking forward to seeing how the Microsoft partnership develops.
- Learnings from COVID-19: It's time to move forward full speed with Cloud now that the pandemic is (hopefully) behind us. Additionally, IT Support processes and resources will undergo a major change management exercise. For organizations to support Cloud, they need more than just updated skills. They need quarterly patch updates, no customizations, and enabling new capabilities.
I am looking forward to what Oracle Cloud's focus on AI will bring. It was great to see the focus and innovation within the Cloud space. This time around, I hope what happened in Vegas goes beyond Vegas!
