With the cloud, the risk of technology obsolescence drops to zero — putting the business on a more solidly competitive footing. Perhaps that’s why 76% of survey respondents intend to run ERP in the cloud. It’s no longer, “Cloud When” It’s “Cloud Now”.
With the pace of business change accelerating, the business and finance leaders recognize that they can no longer rely on the tools of the past to keep up with customers. The right ERP cloud not only provides new capabilities, but it is also a vehicle to deliver a regular cadence of new and innovative technologies. This next generation of ERP will equip Business leaders to be more strategic, providing meaningful insight and guidance to the business. Moving to an ERP cloud is an opportunity for companies to re-invent and transform their business processes. CFOs, Finance and Business leaders will be well-positioned to lead this transformation, if they embrace new capabilities that help them innovate today, predict tomorrow and shape the future of the business
Today’s enterprise clouds are evolving, and businesses need to evolve with them by embracing the next-generation cloud model. With the cloud, they move to a technology that adapts itself to the future changes and enables the business to transform along with it seamlessly. Whereas, traditional on-premise technology gets old, redundant, and needs replacement with huge efforts from the organization for transition to the latest technology.
Why is cloud computing such a game-changer? In a word, immediacy. Cloud models enable real-time views into your data, opening the door to instantaneous insights. It’s no wonder that 74% of businesses say the cloud has given them a competitive edge. According to Oracle, first-generation infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS) clouds were built using decades-old technology. Newer, second-generation clouds have been designed to support the technologies that drive the modern enterprise such as AI, blockchain, Internet of Things (IoT), and real-time analytics — as well as to meet to higher demands for scale, efficiency, and security.
As a new year — and a new decade — unfolds, the following are some top cloud predictions from Oracle on how new technologies and business models are changing.
Prediction 1: 90% of all manual IT operations and data management tasks will be completely automated, opening the door to a new era of IT innovation.
While some technology professionals are still consumed with routine operations such as backing up, scaling, tuning, monitoring and securing critical information systems, autonomous databases are quickly making these activities a thing of the past. By 2025, says Oracle, 90% of all manual IT operations, and data management tasks will be completely automated.
This will enable IT workers to have more time to explore the latest advancements in AI and machine learning — from conversational user interfaces to blockchain to the IoT. For example, self-learning systems can automate the collection of data across multiple applications, and can automatically visualize millions of data points. By displaying enterprise data through graphs, charts, and animations, business users can more easily perceive trends, patterns, and correlations in their data, rather than trying to glean insights from columnar reports and spreadsheets. The cloud moves these advanced technologies into the mainstream.
Prediction 2: 100% of enterprise applications will include some form of AI.
AI technology is altering enterprise computing by changing how organizations receive, manage, and secure business data. According to Oracle, enterprises are quickly embracing AI as they perceive their ability to improve efficiency, boost productivity, and reduce costs. By 2025, 100% of enterprise applications will include some form of embedded AI. These technological advancements will impact all parts of the business, accelerating time-to-insight by helping managers and executives obtain a better understanding of operations, employees, markets, and customers.
Prediction 3: 100% of supply chains will depend on augmented reality, virtual reality, blockchain, machine learning, and IoT.
Intelligent, automated systems are quickly taking hold in many industries, driving paradigm shifts in system design, logistics, manufacturing, infrastructure, and more. Increased buyer expectations, shorter product lifecycles, new regulations, and fluctuating demands are testing the limits of traditional supply chains and driving the adoption of emerging technologies.
AI algorithms eliminate the need for human decision-making altogether. Virtual reality (VR) and augmented reality (AR) interfaces enable more immersive experiences for employees, such as 3D renderings that help shop floor workers visualize equipment configurations. Voice-controlled assistants can look up product information and report production milestones, conveying insights about current conditions gleaned from IoT sensors. Blockchain solves major challenges in supply chains by curtailing counterfeiting and improving visibility/traceability. Materials and products that travel globally must pass through multiple suppliers, manufacturers, distributors, carriers, and service providers. Blockchain de-regulates global supply chains that formerly relied on centralized governance models, creating decentralized, distributed, and digital records of transactions that are anonymous, tamperproof, and unchangeable.
Prediction 4: Automated business processes will enable more personalized interactions in HR, sales, and other business domains.
AI and autonomous technologies are permeating the workplace, streamlining routine business processes, and freeing up professionals to focus on more meaningful and productive human interactions, according to Oracle. For example, automated workflows can streamline recruiting operations by tracking applicants and fielding requests from new hires. Some HR teams use AI to identify top candidates by comparing their stated qualifications against job postings. Chatbots can communicate with candidates to answer questions and schedule interviews. These automated functions alleviate routine administrative tasks so HR professionals can focus on hiring qualified candidates that match the corporate culture. By 2025, 70 % of recruiting will be taken over by AI and bots.
In sales, AI systems can analyze large datasets to identify the leads that are most likely to lead to sales. AI systems compile vast amounts of client data, from social media postings to customer interaction histories to sales and service events. AI’s self-learning capabilities enable software processes to interact with lots of people simultaneously while enforcing consistent brand messages. Software bots can qualify leads, rank opportunities, and deliver targeted recommendations to prospective clients. They can adjust pricing and recommend products based on market-basket analysis and browsing history. While the heart of sales will always be human interaction, the value of these intelligent technologies will continue to grow. By 2025, 80% of sales will be automated, enabling sales reps to focus on relationship-building and customer engagement.
Prediction 5: There will be 600 times more sensitive data shared in the cloud.
Seven out of ten organizations now keep business-critical data in the cloud. Most of these organizations depend on hybrid clouds that allow them to keep some critical business systems on-premise and shift most of their data into the cloud. While this approach maximizes flexibility and reduces cost, it also exposes organizations to increased risk, because hybrid environments can lead to inconsistent security policies and controls. By 2025, there will be 600 times more sensitive data shared in the cloud and a corresponding increase in security threats, both from automated external attacks and the misuse of authorized identity credentials.
The attackers are becoming more sophisticated, so it’s critical for companies to ensure the resilience of their data and systems. However, due to a significant shortage of cybersecurity expertise, it will be even harder for companies to hire enough people to staff their security operations. Unpatched systems create an easy path for attackers who are intent on targeting known vulnerabilities. To prevent new cyberattacks, organizations need autonomous systems that infuse advanced security capabilities into every layer of the IT infrastructure — from the applications, to the data, down into the silicon.
Conclusion
Today, it is imperative for companies of all sizes and geographies to adopt a next-generation cloud — a cloud that is designed for the modern enterprise, and that yields unprecedented scale, efficiency, and security.
Oracle is leading the way with a second-generation cloud that fundamentally rearchitects conventional IaaS and PaaS cloud offerings. Built from the ground up to meet the needs of mission-critical applications, Oracle Cloud features the world’s first self-repairing, self-tuning, self-driving Oracle Autonomous Database, in conjunction with the advanced analytics capabilities of Oracle Analytics Cloud. These mature cloud services eliminate complexity, human error, and manual management, all while cutting administration costs by up to 80 percent. Oracle’s second-generation offering is built on the world’s most robust cloud infrastructure, powered by integrated platform services and a comprehensive software portfolio — from application development and business analytics to data management, integration, security, AI, and blockchain — so you can instantly utilize the technologies that drive market leaders to succeed. It also includes robust planning, validation, and migration tools to orchestrate the movement of your on-premise information systems to the cloud. You’ll gain the ability to more easily mitigate security threats and automate data-management tasks, all with industry-leading scalability, availability, and performance.
