Oracle has introduced a new suite of artificial intelligence (AI) tools to its corporate finance software, NetSuite. The announcement, made on Thursday, highlights Oracle’s decision to prioritize targeted AI enhancements over the development of massive, general-purpose AI models. These updates are designed to streamline routine business tasks, such as sales reporting and pricing calculations, offering businesses greater efficiency in their operations.
Unlike tech giants such as Microsoft, which are investing heavily in large-scale AI models and virtual assistants, Oracle has opted for a more pragmatic approach. Rather than pouring resources into developing proprietary large language models (LLMs), Oracle is collaborating with specialized AI firms like Canadian startup Cohere. This partnership allows Oracle to integrate cutting-edge AI features without the high costs and risks associated with building AI models from scratch.
This approach enables Oracle to focus on practical applications of AI, such as automating tedious tasks that are essential for business operations. One key feature added to NetSuite is an AI-powered pricing tool, which facilitates faster and more accurate quote generation for complex purchases like custom bicycles. By leveraging AI, businesses can reduce the time spent on manual data entry and improve customer response times, ultimately enhancing sales efficiency.
The latest AI enhancements in NetSuite target common yet time-consuming administrative tasks. For example, sales professionals often spend valuable time documenting the outcomes of meetings into corporate records. Oracle’s AI tools can now automatically generate concise summaries of these interactions, minimizing the need for manual input and reducing administrative burden.
Similarly, the AI-driven pricing feature aims to optimize how companies generate quotes for highly customized products. In industries where pricing is dynamic and dependent on various factors, such as materials, customization, and supply chain costs, AI can help businesses determine the most competitive pricing strategies in real time. This reduces errors, improves accuracy, and ensures customers receive timely quotes, leading to a better overall experience.
Oracle’s decision to focus on AI-enhanced enterprise applications rather than competing in the race to develop AI chatbots or assistants is a calculated one. By prioritizing efficiency-driven AI tools, the company can deliver tangible value to businesses without incurring the massive costs associated with AI infrastructure development.
As AI continues to transform corporate workflows, Oracle’s targeted innovations position it as a leader in practical AI applications, offering businesses solutions that improve productivity and drive profitability.
