Oracle launches AI center of excellence for healthcare

ORLANDO - Oracle Health, a division of the $678 billion tech giant Oracle (NYSE:ORCL), launched an AI Center of Excellence for Healthcare on Wednesday to help healthcare organizations implement and optimize artificial intelligence solutions, according to a company press release. According to InvestingPro, Oracle maintains its position as a prominent player in the Software industry, with annual revenue reaching $59 billion.

The center offers healthcare systems and hospitals access to Oracle experts, resources, and secure cloud environments for AI experimentation and implementation. It aims to assist organizations in creating AI agents, accelerating change management initiatives, and providing best practices for AI-enabled business transformation.

"AI is fundamentally changing every industry, and the opportunities for AI-fueled transformation in healthcare are innumerable," said Seema Verma, executive vice president and general manager of Oracle Health and Life Sciences.

The initiative focuses on five key areas: expert collaboration, resource access, regulatory alignment, rapid iteration, and organizational adoption. Healthcare organizations will have access to Oracle teams, implementation guides, frameworks, and best practices designed to address industry-specific challenges while meeting regulatory requirements including HIPAA and data privacy standards.

Organizations utilizing the center will be able to test AI innovations across Oracle Cloud Infrastructure, Oracle Fusion Cloud Applications, and Oracle Health technology in secure environments.

The announcement was made at the Oracle Health and Life Sciences Summit in Orlando. Oracle (NYSE:ORCL) provides integrated application suites and autonomous infrastructure through Oracle Cloud.

In other recent news, Oracle has reported strong fiscal first-quarter results, which have caught the attention of several analyst firms. Guggenheim has raised its price target for Oracle to $375, praising the company’s cloud strength and technological innovation. Barclays also increased its price target to $347, citing significant growth in Oracle’s remaining performance obligations, largely driven by new artificial intelligence contracts. Similarly, Mizuho raised its price target to $350, highlighting Oracle’s explosive AI-driven growth and a remarkable 359% year-over-year increase in remaining performance obligations, now totaling $455 billion. Despite these impressive figures, Oppenheimer maintained a Perform rating due to concerns about capital expenditures, even as Oracle showed record sales performance in key areas like Cloud Revenue and multi-cloud database revenue. In addition to financial metrics, Oracle announced plans to integrate AI capabilities into its Health Patient Portal by 2026, aiming to enhance patient interaction with medical records. This development will allow patients to receive plain-language explanations and ask questions about their health information through conversational AI. These recent developments underscore Oracle’s expanding role in both the cloud and AI sectors.

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