Oracle unveils AI agents for finance in cloud applications

LAS VEGAS - Oracle, a prominent player in the software industry with annual revenue of $59.02 billion, announced new AI agents for its Fusion Cloud Applications on Wednesday, designed to help finance professionals automate workflows and improve decision-making processes. According to InvestingPro data, the company’s strong market position is reflected in its substantial $852.39 billion market capitalization.

The new AI agents will be embedded within Oracle Fusion Cloud Enterprise Resource Planning (ERP) and Enterprise Performance Management (EPM) systems, according to the company’s statement released at Oracle AI World.

The suite includes four specialized agents: a Payables Agent that automates invoice processing; a Ledger Agent that provides financial insights; a Planning Agent for financial analysis; and a Payments Agent that helps optimize cash outflows.

Oracle executive vice president of Applications Development Rondy Ng said the new tools aim to transform "fragmented, complex, staff-heavy processes into proactive, continuous operations."

The AI agents run on Oracle Cloud Infrastructure and are integrated within Oracle Fusion Applications at no additional cost to existing customers, the company stated.

Oracle also announced that customers and partners can create their own AI agents using AI Agent Studio for Fusion Applications, a platform for building and deploying custom AI agents.

According to the press release, approximately 11,000 organizations currently use Oracle Fusion Cloud ERP across various industries and regions.

The announcement comes as more enterprise software providers incorporate AI capabilities into their business applications to help organizations improve operational efficiency and decision-making processes.

In other recent news, Oracle announced new AI capabilities for its Oracle Fusion Cloud Recruiting service, aiming to improve the hiring process for candidates and recruiters. The Oracle Career Coach, built using Oracle AI Agent Studio, analyzes candidates’ backgrounds, skills, and interests to provide better job matches and deliver comprehensive talent insights. Additionally, Oracle has collaborated with Microsoft to develop an integration blueprint to enhance manufacturing supply chain efficiency. This collaboration will connect Oracle Fusion Cloud Supply Chain & Manufacturing with Microsoft’s Azure IoT Operations and Microsoft Fabric, enabling real-time data capture from factory equipment and sensors.

Furthermore, PwC has expanded its use of Oracle Fusion Cloud Enterprise Resource Planning across its global network to standardize financial operations. This implementation leverages embedded artificial intelligence to enhance financial controls and streamline reporting processes. Oracle also introduced new networking capabilities in its Oracle Acceleron suite, designed to run workloads faster and more cost-effectively in Oracle Cloud Infrastructure. These enhancements improve performance and availability without additional costs to customers. Lastly, several AI startups, including Baseten, Luma AI, Mithril, Modular, Rime, and Tensor, have chosen Oracle Cloud Infrastructure to support their AI workloads, benefiting from Oracle’s high-performance storage and flexible compute options.

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