Oracle is beefing up its offerings with AI capabilities
Earlier in the series, we discussed how Oracle’s (ORCL) DataScience.com acquisition would complement its software-as-a-service and platform-as-a-service offerings and thus boost its position in the cloud space.
For the last two to three years, Oracle has been developing its AI capabilities. In late 2017, Oracle launched a chatbot powered by AI. It has already launched a suite of deep-learning frameworks and preconfigured AI libraries called Oracle AI Platform Cloud Service. Its other launches in this area include the following:
- Oracle Mobile Cloud: a conversational AI platform
- Oracle Autonomous Data Cloud: a machine-learning tool that uses Oracle Database 18c and is specially designed for industrial workloads
- Oracle Security and Management Cloud: an AI security threat analysis tool
- Oracle Analytics Cloud: an AI visualization tool
The tech sector is betting big on AI
Oracle is betting big on AI, machine learning, and autonomy. According to the International Data Corporation, spending on AI-focused hardware, software, and services is expected to reach $58 billion by 2021, up from ~$12 billion in 2017. This compound annual growth rate of ~50% from 2017 to 2021 makes AI one of the fastest-growing technology segments.
The growth rate also explains why technology players IBM (IBM), Microsoft (MSFT), Google (GOOG), Facebook (FB), and Intel (INTC) were featured among the top seven biggest machine-learning patent producers in 2017.