Oracle, a prominent American cloud company, has introduced new large language models (LLMs) in databases, known as HeatWave GenAI. This innovation empowers enterprise clients to leverage powerful GenAI within their databases, even without specialized AI expertise. The GenAI features include an automated vector warehouse within the database, enabling customers to develop GenAI applications seamlessly without data movement or extra expenses.
According to Edward Screven, Oracle’s chief corporate architect, these new GenAI capabilities will reduce costs, enhance data security, optimize performance, and simplify application complexity. The goal is to provide users with an intuitive way to access their company’s data and obtain precise answers swiftly for their business needs.
Vijay Sundhar, CEO of cybersecurity management firm SmarterD, praised these updates, calling them the democratization of GenAI. In a significant move, Oracle has announced an investment exceeding $1 billion in Spain, focusing on advancements in artificial intelligence and cloud computing. This investment will span over ten years and will lead to the establishment of a third cloud region in Madrid to cater to the rising demand for AI and Oracle cloud services in the country.
Oracle’s recent collaborations with Google Cloud and OpenAI for its cloud infrastructure underscore the company’s commitment to innovation and strategic partnerships. In April, Oracle disclosed plans to invest over $8 billion in Japan over the next decade to bolster cloud and AI infrastructure in the region. GlobalData, a research and analytics firm, projects that the total AI market will reach $909 billion by 2030, with a projected annual growth rate of 35% between 2022 and 2030.
GlobalData also anticipates that businesses will explore open-source language models on controlled private cloud infrastructure, enabling them to train models using proprietary data while safeguarding intellectual property. Overall, Oracle’s advancements in GenAI and cloud services signify a significant step towards harnessing the power of artificial intelligence for enterprise customers worldwide.
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https://www.verdict.co.uk/oracle-launches-heatwave-genai-to-cut-ai-costs-for-enterprises/