Oracle, a key player in the ambitious Stargate Project alongside OpenAI and SoftBank, introduced new AI agents tailored for manufacturers at its CloudWorld event in Austin. These agents are designed to empower supply chain professionals across various roles, from procurement to sustainability initiatives. AI agents are specialized AI bots capable of performing actions on behalf of users, either autonomously or with human oversight, across multiple applications.
Major tech companies, including Microsoft, Google, Amazon, and Nvidia, are championing AI agents as the next significant advancement in AI. These agents streamline mundane yet time-consuming tasks, boosting efficiency.
“Our new AI agents for supply chain management alleviate administrative burdens by optimizing workflows and automating routine tasks,” explains Chris Leone, Oracle’s executive vice president of applications development. “This leads to improved accuracy and efficiency, smarter decision-making, and ultimately, a more agile and responsive supply chain.”
Accessible through the Oracle Fusion Cloud Supply Chain and Manufacturing platform, these new offerings aim to assist employees with a wide range of tasks, from product inspections to providing precise delivery instructions.
This surge in AI agent development reflects the tech industry’s drive to maximize the potential of its substantial investments in AI technologies. Microsoft’s Copilot Studio includes an AI agent builder, while Google offers its Vertex AI Agent Builder.
Oracle’s announcement follows the unveiling of the Stargate Project, a joint venture with OpenAI and SoftBank, spearheaded by Oracle chairman Larry Ellison, OpenAI CEO Sam Altman, and SoftBank CEO Masayoshi Son. This ambitious project aims to invest up to $500 billion in constructing AI data centers across the US, with the first facility already under construction in Texas.
While Oracle’s cloud service trails behind Amazon, Microsoft, and Google in overall market share, the company is actively capitalizing on the AI boom alongside its larger competitors. Despite reporting Q2 earnings slightly below analysts’ estimates, Oracle saw a 52% increase in cloud infrastructure revenue, reaching $2.4 billion, and a 10% rise in cloud application revenue, totaling $3.5 billion.
Oracle’s stock performance has been impressive, surging 41% over the past year, outperforming Microsoft’s 7% growth and Google’s 27% gain. However, Amazon still holds the lead with a 47% increase over the same period. This highlights the competitive landscape and the significant impact of AI on the tech sector. Oracle’s strategic focus on AI agents positions the company to further capitalize on this growing trend and enhance its position in the cloud market.
