Rapid digitization is taking the business world by storm, bringing industry-altering technologies to the forefront. Artificial Intelligence (AI) and Cloud computing are two of the fastest-evolving innovations that organizations are looking to leverage at the core of their operations. A recent Statista report indicates that “the global value of the AI market will surpass $89 billion per annum by 2025”. The study claims that this exponential demand can be attributed to AI powering cloud computing.
When you combine a power like AI with cloud computing, organizations become more efficient, strategic, and insight-driven. Cloud will offer more scalability, agility, and cost efficiency while AI will enable improved customer experience and easier management of data analytics & insights.
From a business perspective, accelerated computing and AI are vital to neutralize the rising costs in every facet of IT operations. More tasks automation and self-learning there is with AI will promote faster decision-making and eliminate the number of humans being involved. AI quickly takes multiple factors into consideration that humans cannot (demand, inventory, market trends, etc.), which significantly reduces the probability of error and has a direct cost impact.
Oracle has recognized the enhancement AI can bring to its cloud and is taking action. Just last month, Oracle announced its partnership with NVIDIA, a global leader in AI technology to speed up enterprise AI uptake on OCI. Oracle intends to bring Nvidia’s entire computing stack – including tens of thousands of Graphic Processing Units (GPUs), systems, and software. GPUs are leveraged to process multiple tasks simultaneously. They are extremely useful for machine learning.
“Our expanded alliance with Nvidia will deliver the best of both companies’ expertise to help customers across industries — from health care and manufacturing to telecommunications and financial services — overcome the multitude of challenges they face.” – Safra Catz, Oracle CEO.
Oracle has noted that these are the top industries where integrating AI with data management in the cloud will have the most significant impact. These enterprises are generating/collecting more data than ever before; AI will make acquiring, analyzing, and managing data much more effective and seamless.
An industry in which I can see this trend really taking off is the financial sector. Even the smallest of financial institutions must process thousands of transactions daily, AI will assist these organizations in providing customers with hyper-accurate real-time data. It will also help to actively detect fraud and other industry-specific risks – ultimately improving client management, marketing, and supply chain.
Eclipsys Solutions specializes in deploying, managing, and running any type of workload in Oracle Cloud Infrastructure (OCI). Our team of cloud architects ensures our partner’s transition to the cloud is seamless and all advanced capabilities are being correctly leveraged. Connect with our experts for relevant insight pertaining directly to your environment.