Accenture and Oracle have announced an extension of their partnership to jointly develop generative AI solutions aimed at enhancing business workflows.
Under the expanded partnership, Accenture will utilize generative AI solutions on Oracle’s Cloud Infrastructure (OCI) to improve business processes.
Initially, the collaboration will concentrate on AI technologies tailored for the finance sector. The goal is to provide finance teams with enhanced capabilities for data analysis and recommendations.
The companies will work on generative AI solutions targeting various finance-related tasks such as financial planning, scenario planning, and procurement spending analysis.
Customers will access these AI models through Accenture’s switchboard, allowing them to combine different systems to support their workloads effectively.
Generative AI solutions promise to streamline finance processes, simplifying tasks like accounting closes, filings, and planning, according to a company announcement.
Following the finance focus, Accenture and Oracle plan to develop generative AI solutions for other sectors, including healthcare and the public sector.
Accenture’s chief AI officer, Lan Guan, emphasized the importance of moving beyond AI experimentation to realize tangible value, citing research indicating high confidence among C-suite leaders in achieving expected returns on generative AI investments.
Oracle’s senior vice president for AI and Data Management Services, Greg Pavlik, highlighted Oracle’s commitment to enterprise AI solutions, emphasizing the availability of generative AI across their stack. The partnership aims to deliver solutions addressing real-world business challenges.
As part of the collaboration, Accenture and Oracle will offer training programs to help customers utilize Oracle’s cloud platform effectively.
