Key takeaways
- The shift to digital requires businesses to adapt or risk becoming obsolete.
- Companies face challenges with managing vast amounts of data and storage needs.
- Inefficiencies in data handling can lead to significant revenue losses and security issues.
- Choosing the right technological path is crucial for enhancing customer experiences.
- Cloud platforms offer increasing flexibility to address current and future business challenges.
The world is increasingly moving to a digital mindset, from simple things we used to do on paper – that are now apps – like books, to in-person doctor visits that are migrating to virtual visits. These advancements require an entirely new infrastructure to support and measure. As a result, companies that used to sell something or provide a service must now transform into a technology company or choose to become obsolete sooner or later.
But, with all these advancements, companies are at a crossroads. These include unmanageable amounts of data, unparalleled storage needs for that data, a growing need to analyse that data quickly and efficiently, and the urgency to easily visualise that data for quick business pivots at all intersections.
Inefficiencies in any of these mean a loss of opportunity for increased revenue to revenue losses from undetected fraud or data centre outages to security breaches and ransomware.
How should one go about it?
The growing challenge is choosing what path to take to solve all those problems – should they venture down the path of automating more human processes for faster customer experiences with full-blown automated workflows?
Or, should they view the world through the services of vision, speech, and language technologies that make interacting with the world around us faster and simpler?
Or, what about detecting anomalies quick enough to prevent critical revenue loss and reputation challenges?
The list goes on and on.
So, the question is, are there easy and simple solutions that will allow resolutions for current business problems and prepare for future unknowable business needs with moderation and balance?
The answer is Yes!
The increasing flexibility and services offered in cloud platforms transform businesses and their operations. Gone are the days when companies had to pick and choose multiple services from multiple providers, requiring massive amounts of development time to integrate just to run their business effectively.
Now, companies can pick one or two cloud platforms that can provide all the services needed with native or marketplace support to streamline their entire software across enterprises/SMBs/large-scale organisations. Also, these cloud platforms can support complex data aggregation and analysis and even conduct complex and sophisticated simulations to provide split-second decision-making.
For example, AI can enhance applications and business processes with new capabilities that create better customer experiences, empower employees with better information, and improve business operations. It can also help customers perform text analysis at scale, real-time speech recognition, natural language processing (NLP), image recognition, anomaly detection, time-series predictions, and more.
Simplifying AI and analytics
A natural fit for complex analytics and data storage is the cloud, with the backing of powerful burstable capabilities. For example, Oracle Cloud Infrastructure (OCI) offers rich AI Services to make it easier for organisations to apply AI to their business scenarios. It also helps developers have the ability to build their models and can easily consume pre-built ML models to extend apps and solutions without needing to be ML experts.
Our customer story with Red Bull Racing is a testament to our AI capabilities. In 2021, OCI ran billions of computer simulations to help Red Bull Racing formulate race day strategies and make real-time race day decisions resulting in Max Verstappen winning the 2021 Formula 1 championship.
Oracle also offers a generous free tier, enabling developers to build, test, and deploy applications on OCI quickly. In addition, developers have the flexibility to leverage our native tools (such as OCI DevOps and OCI Observability), bring their tools, or leverage our extensive integrations with their favourite open source and third-party tools to build and manage their applications on OCI.
OCI even includes enterprise-grade support for free with all our cloud services – making it easy for developers to find help whenever needed.
