Oracle is not your typical cloud service provider. Recently, the company embedded generative AI capabilities into the complete SaaS suite with Human Capital Management (HCM) being the first tool.
“The definition of success has changed for 96% of the Indians,” said Deepa Param Singhal, vice president-cloud applications, Oracle, in an exclusive interview with AIM, citing the ‘AI at Work’ survey. She said that they now seek more flexibility and focus on health, and communication, which became quite evident ever since the Covid-19 pandemic.
“We’re at an inflection point when it comes to the engagement of employees with the workforce. Nearly 70% feel disengaged with their companies across Asia. That’s a big problem we need to fix,” said Singhal.
“Managers are expected to have 70% more business impact and return. So, if you’re making your managers successful, I think that plays a huge role in retaining employees,” she said, adding that with generative AI tools, HRs can spend more time on business and strategic tasks.
Moreover, she added that with generative AI, mundane tasks like writing job descriptions and chasing employees to fill appraisal forms will get automated. “How quickly can HRs embrace the technology to solve some of the problems of customers and their employees? That will be an important factor alongside reskilling and upskilling the workforce,” she said.
Oracle HCM to the Rescue
“We want to provide a platform where employees can connect, and have meaningful relationships with each other,” said Singhal, adding that Oracle has built products like Oracle ME and Celebrate under Oracle HCM.
Oracle HCM is a suite of cloud-based applications designed to manage all aspects of the employee lifecycle, from recruitment and onboarding to talent development, performance management, and compensation.
Further, she said that today employees don’t need to visit the HR department to know about policies like maternity leave. “You get all of this information at your fingertips on Oracle HCM, keeping you more connected and productive.”
Oracle is already working with thousands of customers across industries. Citing workforce management software company Quess Corp, Singhal said that it uses Oracle HCM. The company, currently spread across 10 countries, has a diverse segment of the workforce, serving more than 3600 customers.
“All their employees actually implemented Oracle ME, the entire Fusion HCM suite in which talent can connect and grow,” she added.
Further, she said Jubilant FoodWorks, which has a workforce of 36,000, is also using HCM solutions to keep employees engaged. “We have Apollo Hospitals, which leverages Oracle HCM solutions to solve some of their problems in healthcare,” she added, saying that the company is already seeing a huge demand in India for its SaaS applications, which is expected to add $50 billion by 2030.
Oracle HCM vs the World
SAP SuccessFactors, Zoho People, Workday, PeopleStrong, Ceridian Dayforce, and Darwinbox among others, are also actively experimenting and integrating generative AI features to reshape HR.
ServiceNow, a leading global technology company, has entered into a partnership with Hugging Face to release the Now LLM. It caters to HR leaders, aiming to elevate productivity and operational efficiency by streamlining and minimising redundant manual tasks.
On the other hand, ANSR, a global captive center (GCC) scaler company, has developed Nova LLM using the Vicuna 7B model from the Llama 2 series. Trained on a combination of public and proprietary information, including ANSR’s hiring data across India’s GCC, the model incorporates insights from 18 years of data for 150,000 professionals
“We’ve invested in our robust AI infrastructure, securing all data within our system. Unlike many other vendors who rely on third-party tools, Oracle ensures your data stays within our ecosystem,” said Singhal. This approach, she explained, sets Oracle’s HCM apart. “It enables faster innovation and execution of use cases, leveraging our entire infrastructure database.”
Furthermore, she added that the partnership of Oracle with Cohere is crucial as it specialises in enterprise AI, and Oracle will continue to embed more applications with a hint of generative AI or industrial applications.
