Oracle released a number of exciting AI announcements as part of its Modern Customer Experience week, during which it branded its latest AI cloud applications.
Oracle is calling its AI powers “connective” or “adaptive” intelligence, with algorithms working through complex data to increase marketing and sales revenue for Oracle users. This innovative technology competes directly with Salesforce’s Einstein, as these two enterprise giants rush to deliver better and more personalized customer experiences (CX).
Oracle Adaptive Intelligence deploys natural language processing (NLP), machine learning, and neural networks to deliver enhanced CX insights. “Oracle can bring information together on the fly to the benefit of the consumer. The system is actually tracking what you do, click by click,” shares Jack Berkowitz, VP Products & Data Science of Oracle Adaptive Intelligence.
The more substantive data is collected, the better users can meet their customer needs. Oracle’s AI cleverly combines customer data with third-party data, giving users access to a larger digital footprint of their customers.
Berkowitz stresses the importance of leveraging integrated customer information when aiming to expand one’s ROI basket. This is especially the case for sectors such as retail, travel, and hospitality, where customer acquisition is expensive. Oracle’s combined data forces are especially useful in retention marketing to increase shopping basket size and repeat sales loyalty.
Cloud applications based on adaptive intelligence personalize offers and change recommendations for customers in real time, merging online with offline interaction. The algorithms driving Oracle’s AI engine include a constant feedback loop, updating data on the go.
“Let’s say that you’ve been recommended a product online, but you want to see it physically. As you go into the store, the storekeeper knows which recommendations to show you based on your browsing history online. It’s that continuity of experience, not just the initial experience, which is so critical,” explains Berkowitz.
The Adaptive Intelligence team’s combined AI capabilities stem from Oracle developing key analytics tools since 2006, enabling it to steadily build on in-house talent. AI has also been placed centrally in other types of cloud applications such as Human Capital Management (HCM) systems, where real-time adaptive changes reign.
Adaptive intelligence is implemented in multiple applications within the Oracle CX Cloud Suite. To boost the ROI of lead generation campaigns, Oracle Marketing Cloud is teaming up with LinkedIn in the new Matched Audiences product. Another example is the Oracle Content and Experience Cloud that is focused on effective content delivery and consumer engagement.
Now that Oracle is amplifying its AI capabilities for CX purposes, Oracle Adaptive Intelligence is creating new ways for companies to bring sales and marketing campaigns to new heights. With customer data and third-party data combined, Oracle’s cloud applications are offering more and better access points to customer experience.