Oracle to Increase Artificial Intelligence Investments in India by 100%

Oracle, the Texas-based computer technology giant, is set to double its investment in artificial intelligence technology in India. Chris Chelliah, senior VP of technology and customer strategy at Oracle Japan and Asia Pacific, announced the company’s plans to increase its focus on AI during the Oracle Data and AI Forum in Bengaluru.

With a strong emphasis on data, Oracle aims to expand its presence in the Indian market, which is considered one of the fastest-growing markets for Oracle’s SaaS business in the Asia Pacific region. In 2020, Oracle ranked as the third-largest software company globally in terms of revenue and market capitalization.

Oracle’s recent investment of over USD eight billion in Japan for cloud computing and AI highlights the company’s commitment to innovation and growth in emerging technologies. Srikanth Doranadula, Group Vice-President, Technology and Systems, Oracle India, expressed the company’s goal of providing AI services to Indian organizations to develop advanced AI models.

The launch of Oracle Database 23ai, featuring Oracle AI Vector Search and over 300 new major features, demonstrates Oracle’s dedication to making AI more accessible and efficient for its customers. This latest version of the database allows users to search across various data types securely and efficiently, enhancing the speed and effectiveness of AI applications.

Juan Loaiza, executive V-P of mission-critical database technologies at Oracle, described Oracle Database 23ai as a game-changer for enterprises worldwide. With a 7% year-over-year increase in revenues in Q3FY24, Oracle continues to lead the way in AI technology and innovation, solidifying its position as a key player in the global tech industry.