US-based technology giant Oracle plans to double its artificial intelligence (AI) investments in India. “Oracle brings AI to the enterprise in software-as-a-service (SaaS) applications, AI services, data, and infrastructure,” Chris Chelliah, senior VP of technology and customer strategy at Oracle Japan and Asia Pacific, said on the sidelines of the Oracle Data & AI Forum in Bengaluru. “Our plans going forward in India is to double down investments and with a focus in data,” he added.
The company’s newest version of database, the Oracle Database 23ai, introduces Oracle AI Vector Search and over 300 new major features designed to make using AI with data easier, speed up application development, and enhance the performance of mission-critical tasks. It is accessible in Oracle Cloud Infrastructure through several services, including Oracle Exadata Database Service, Oracle Exadata Cloud@Customer, and Oracle Base Database Service.
“The new AI Vector Search features allow customers to securely search across documents, images, and other unstructured data along with private business data without having to move or duplicate this data. Oracle Database 23ai brings AI algorithms directly to where the data is stored, enhancing the speed, effectiveness, efficiency, and security of AI applications running in real-time in Oracle databases,” the company said in a statement.
Further, Chelliah mentioned that the company is launching new Cloud regions every 28 days. Currently, Oracle operates 68 customer-facing Cloud regions, with two launched this year. For the third quarter, Oracle’s Cloud revenue, which includes infrastructure-as-a-service and SaaS, reached $5.1 billion, a 24% increase in constant currency. While its overall revenue grew 7% to $13.3 billion in the quarter. Oracle’s financial year concludes on May 31.
