Oracle has extended the artificial intelligence (AI) capabilities within Oracle Enterprise Resource Planning (ERP) Cloud and Oracle Enterprise Performance Management (EPM) Cloud. The latest machine learning-based innovations include an expense reporting assistant, project management digital assistant, advanced financial controls and project-driven supply chain management.
Rondy Ng, senior vice president at Oracle Applications Development, said in a statement that the company’s AI strategy delivered via continuous product updates means finance and operations teams can stay ahead of the technology curve and retain a competitive advantage.
More than 6,000 organizations in 112 countries and 23 industries have selected Oracle ERP Cloud as a platform, which feature innovations in artificial intelligence, digital assistants, natural language processing, blockchain, and the Internet of Things to enable enhanced productivity, reduced costs and improved controls.
The latest machine learning-based innovations include: an expense reporting assistant that uses machine learning to improve the automatic classification of expense items, monitor policy violations and reduce audit risks; a project management digital assistant that learns from past time entries, project planning data, and the overall context to tailor interactions and capture critical project information; advanced financial control that provides continuous analysis of transactions, setups, and configurations to automate audits and help prevent financial leakage, among other functions.