According to Oracle, the purchase of DataFox will enhance Oracle Cloud Applications with an “extensive set of AI-derived company-level data and signals.”
DataFox will be added to Oracle’s existing platform of business planning services, such as ERP, CX, HCM and SCM.
Steve Miranda, EVP of applications development at Oracle, said: “Together, Oracle and DataFox will enrich cloud applications with AI-driven company-level data, powering recommendations to elevate business performance across the enterprise.”
Oracle buys @datafoxco. Adds leading artificial intelligence data engine to Oracle Cloud Applications, providing dynamic and insightful company-level data to power even smarter decisions. #AI #companyintelligence https://t.co/kjkaJhO6qK pic.twitter.com/Xr7jZ46bUW
— Oracle (@Oracle) October 22, 2018
Benefiting from AI: A different approach to data management is needed
The potential for AI to improve business performance and competitiveness demands a different approach to managing data lifecycle
The deal is significant for many reasons. Most interestingly, it signals how large tech organisations are looking for more AI-driven tools for their platforms. It also indicates a competitive push from Oracle’s side against their rivals Salesforce.
Further terms of the deal have not yet been disclosed.
DataFox was launched in 2014. They are headquartered in San Francisco, CA, and were backed by Goldman Sachs, Green Visor, Google Ventures, and Slack. They have been used by high-growth startups and Fortune 500 companies such as UPS, Accel Partners, Bain & Company, Twilio, Zendesk, and Outreach.
What are the business benefits of artificial intelligence?
Rather than fearing AI, businesses should embrace this new form of technology as they look to develop their experiences and upskill their workforce