Oracle CloudWorld 2023: 6 key takeaways from the big annual event [Video]

In line with Oracle co-founder CTO Larry Ellison’s notion that generative AI is one of the most important technological innovations ever, the company at its annual CloudWorld conference released a range of products and updates centered around the next generation of artificial intelligence.

The last few months have witnessed rival technology vendors, such as AWS, Google, Microsoft, Salesforce and IBM, adopting a similar strategy, under which each of them integrated generative AI into their products.

Oracle, which posted its first quarter earnings for fiscal year 2024 last week, has been betting heavily on high demand from enterprises, driven by generative AI related workloads, to boost revenue in upcoming quarters as enterprises look to adopt the technology for productivity and efficiency.

In order to cater to this demand, the company has introduced products based on its three-tier generative AI strategy. Here are some key takeaways: