Oracle CloudWorld 2024: Key Takeaways and Reflections
Last week, we attended Oracle CloudWorld in Las Vegas to connect with industry peers and get the latest insights into where Oracle is evolving its technology, strategic direction, and plans for the future. We also had the chance to talk with retail experts about industry trends, the latest news, and ongoing activities.
During the event, Oracle announced its latest earnings updates, which sent Oracle (ORCL) shares climbing by more than 11%. There is no clearer way to send a message to the Oracle community than a strong earnings report on the opening day of CloudWorld!
Major Announcements from Oracle Leadership
Larry Ellison made several strategic and technological announcements that set the stage for Oracle’s future:
Strategic Cloud Collaboration:
Oracle is making a bold move by making its cloud technology available to Amazon AWS, Google Cloud, and Microsoft Azure customers. This involves placing Oracle’s cloud hardware directly into the data centers of its competitors. Through this strategic collaboration, customers using cloud technology from these vendors and Oracle will no longer need to build costly and slow connections between their providers and Oracle. Oracle’s cloud services will now be embedded directly within the hosting facilities of AWS, Google, and Microsoft.
This is a game-changer for those using Oracle’s technology, particularly its database, while hosting with non-Oracle cloud providers.
AI-Driven Automation:
Oracle also announced a strategic shift toward a high degree of automation, powered by AI. Several use cases were highlighted by Larry Ellison during the keynote:
- The APEX low-code environment, which Oracle has deployed globally, will soon be able to write code based on a simple description of customer needs, eliminating human error and ensuring more scaleable, secure, and proficient development.
- Automation will be embedded in the configuration of core technology components like the Oracle database, again to reduce the likelihood of human errors.
- Security breaches, which often stem from human mistakes in system configuration, will also be addressed through AI-driven automation. Automated systems will handle security configuration, testing, and patching, ensuring a higher degree of safety with fewer risks of human oversight.
Oracle’s motto for this new approach is clear: “No human, no human error.”
Retail Industry Trends and Technology’s Role in Driving Excellence
The retail industry continues to focus on execution excellence across all channels. With customers becoming increasingly discretionary in their spending, retailers are expected to deliver seamless, glitch-free interactions on every platform. However, the competition is fierce, and few retailers are able to consistently outperform, while many struggle to keep pace.
Oracle technology plays a pivotal role in supporting retailers with end-to-end processes—from assortment curation, ordering and supply chain management to sales execution. Retailers today require robust systems to orchestrate complex workflows and data, and Oracle excels in providing core technology and enterprise resource planning (ERP) solutions to meet these demands.
Increased Investment in Retail Technology
There is noticeable increased interest from retailers in technology investments compared to last year. The focus is shifting from traditional planning and optimization tools to execution and ERP solutions. Engagement platforms, such as point-of-sale systems and e-commerce solutions, are also in high demand as retailers look to evolve their capabilities in a rapidly changing landscape.
As the retail industry embraces cloud technology and strives for innovation, Quickborn Consulting will continue to play a crucial role in supporting businesses around the world in achieving their goals.
Conclusion
This year’s Oracle CloudWorld was a powerful reminder of the pace of change in both technology and retail. As Oracle continues to evolve its offerings, retailers are well-positioned to leverage these advancements to stay competitive in a demanding market. Contact us to learn more about current retail trends and how we can help your business grow.