Accenture and Oracle Partner to Speed Up Gen AI Adoption in Finance Organizations

In a bid to revolutionize the landscape of generative AI adoption, Accenture and Oracle have formed a strategic collaboration aimed at providing cutting-edge solutions to their clientele. With a symbiotic partnership spanning over three decades, the two industry titans are poised to propel organizations towards unparalleled growth and innovation by harnessing the power of generative AI.

The joint venture sees Accenture and Oracle doubling down on their commitment to invest in groundbreaking generative AI solutions, tools, and training programs. These initiatives are geared towards empowering organizations to extract maximum value from their data reservoirs, thereby fostering a culture of continuous innovation and propelling businesses to the next level.

One of the pivotal aspects of this collaboration is the utilization of Oracle Cloud Infrastructure (OCI) Generative AI, a platform designed to bolster efficiency, resilience, and overall customer and employee experiences while safeguarding the privacy and security of client data. Initially, the focus will be on spearheading digital finance transformation across diverse industries, where generative AI-powered OCI solutions will furnish finance teams with real-time data analysis and recommendations, fundamentally reshaping decision-making processes.

Transitioning from Experimentation to Value Realization

Lan Guan, Chief AI Officer at Accenture, underscored the imperative for organizations to transition from mere experimentation to tangible value realization in the realm of generative AI. Guan remarked, “Our clients are laser-focused on moving beyond generative AI experimentation to value realization. In fact, according to new Accenture research, 85% of C-suite leaders are confident they will achieve the expected ROI on their generative AI investments this year. Together with Oracle, we’re delivering the enterprise-grade generative AI solutions organizations need to drive new value and completely reimagine business functions and processes.”

For Chief Financial Officers (CFOs), the advent of generative AI promises to streamline erstwhile laborious and time-intensive finance processes, thereby expediting tasks such as accounting closes, filings, and planning. Backed by Accenture’s extensive expertise in financial planning and analysis, corporate finance, and risk management, coupled with Oracle’s cutting-edge technology, the collaborative effort is poised to revolutionize finance operations across the board.

Furthermore, Accenture’s proprietary switchboard will assist clients in selecting foundation models based on factors such as cost or accuracy, thereby customizing solutions to meet specific business needs. The collaboration also extends to exploring industry-specific generative AI solutions in healthcare and the public sector.

Accenture Launches AI-Powered Oracle Assistant

Accenture has introduced a groundbreaking generative AI-powered Oracle assistant, revolutionizing the development and delivery of Oracle solutions. By contextualizing large language models (LLMs) with Oracle- and Accenture-specific data, the assistant generates responses for queries associated with Oracle products and services, providing invaluable guidance throughout the software delivery lifecycle.

Greg Pavlik, Senior Vice President of AI and Data Management Services at Oracle, emphasized Oracle’s commitment to staying at the vanguard of enterprise AI. Pavlik stated, “Oracle continues to be at the forefront of enterprise AI, making generative AI available throughout our stack—from infrastructure to data and applications—to meet customers’ unique needs. We’re excited to be partnering with Accenture to deliver enterprise-class generative AI-powered solutions that address real-world business problems.”

Notably, Accenture’s pioneering efforts with OCI Generative AI in the beta phase have contributed to shaping and evolving the platform’s roadmap. As part of the collaboration, Accenture is committed to training its personnel on OCI Generative AI Service, with plans to launch a specialized Oracle training program for clients within Accenture’s AI academy.

Today’s announcement builds on Accenture’s hefty $3 billion investment in AI, underscoring the company’s unwavering commitment to driving innovation and fostering digital transformation on a global scale. With Accenture and Oracle joining forces, the stage is set for a new era of generative AI adoption, poised to redefine the contours of business operations and unlock untapped potential across industries.