Accenture, Oracle Collaborate To Help Finance Organisations Boost Gen-AI Adoption
The companies will help enterprises across industries to move from experimentation to adoption of generative AI at scale.
Accenture and Oracle have collaborated to invest in new generative artificial intelligence solutions, tools and trainings to help organisations maximise the value of their data.
The companies will help enterprises across industries to move from experimentation to adoption of generative AI at scale. The collaboration will leverage Oracle Cloud Infrastructure generative AI to increase efficiency, resilience and delivering improved customer and employee experiences, while keeping data private and secure.
With an initial focus on finance organisations, new generative AI-powered OCI solutions will provide finance teams with real-time data analysis and recommendations.
“Our clients are laser-focused on moving beyond generative AI experimentation to value realisation. Together with Oracle, we’re delivering the enterprise-grade generative AI solutions organisations need to drive new value and completely reimagine business functions and processes,” said Lan Guan, chief AI officer, Accenture.
For chief financial officers, generative AI can help speed time-intensive and manual tasks, simplifying finance processes, accounting closes, filings and planning. Specific solutions and use cases can include:
Procurement Spend Analysis: Leveraging client-specific data and generative AI and machine learning algorithms, procurement teams can make data-driven decisions based on relevant insights. With generative AI agents, teams can identify opportunities for savings and take action to reduce costs.
Financial Planning And Analysis Demand Forecast: With generative AI and ML, organisations can get an explanation of variances, factors and impacts that can help them assess the changing demand for their products and services.
Dynamic Scenario Planning: Through generative AI, historical and real-time data analysis and a curated knowledge base, finance teams can explore various financial scenarios, perform what-if analysis, identify and understand the impacts of different actions to optimise departmental spending and allocate resources more efficiently.
According to Accenture, the finance solutions will leverage its proprietary switchboard to help organisations select a combination of foundation models based on factors such as cost or accuracy. The companies are also exploring generative AI solutions in the healthcare and public sector space.
“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,” said Greg Pavlik, senior vice president, AI and data management services, Oracle. “We’re excited to be partnering with Accenture to deliver enterprise-class generative AI-powered solutions that address real-world business problems.”
