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May 9, 2024

Oracle Boosts AI Investments in India, Unveils Oracle Database 23ai

Oracle, the Texas-based technology major, is ramping up its investments in artificial intelligence (AI) in India with a focus on helping enterprises scale AI and generative AI (GenAI). This move comes as part of Oracle’s broader strategy to expand its AI offerings globally.

During the Oracle Data and AI Forum in Bengaluru, Chris Chelliah, Senior Vice President of Technology and Customer Strategy for Oracle Japan and Asia Pacific, emphasized Oracle’s commitment to integrating AI across all layers of its offerings, including software as a service (SaaS) apps, AI services, data, and infrastructure.

The latest release, Oracle Database 23ai, underscores the company’s dedication to AI. It features Oracle AI Vector Search and over 300 additional major features aimed at simplifying AI usage with data, accelerating application development, and supporting mission-critical workloads.

Oracle highlighted that the new AI Vector Search capabilities allow customers to securely combine searches for various data types without duplicating or moving it. By bringing AI algorithms to where the data resides, Oracle Database 23ai enables real-time AI processing within Oracle databases, enhancing effectiveness, efficiency, and security.

Juan Loaiza, Executive Vice President of Mission-Critical Database Technologies at Oracle, hailed Oracle Database 23ai as a game-changer for enterprises worldwide, emphasizing its breakthrough AI technology. Consequently, the company has renamed the release to Oracle Database 23ai.

Oracle’s commitment to AI is reflected in its financial performance, with its Q3 cloud revenue, including infrastructure as a service (IaaS) and SaaS, reaching $5.1 billion, marking a 24% increase in constant currency. In comparison, total revenue grew by 7% in constant currency to $13.3 billion. Oracle’s financial year ends on May 31.

As part of its global expansion strategy, Oracle plans to invest approximately $10 billion in data center expansion. Currently operating 68 customer-facing cloud regions, the company added two more regions this year.

With these investments, Oracle aims to strengthen its presence in India’s AI landscape, providing advanced AI solutions to enterprises and bolstering its position as a leader in AI-driven technologies.

In conclusion, Oracle’s doubled-down investments in AI in India, coupled with the launch of Oracle Database 23ai, reflect its commitment to empowering enterprises with cutting-edge AI capabilities, paving the way for transformative innovation and growth in the digital era.

Jhumpa Lahiri

Jhumpa Lahiri

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