Oracle rises as it introduces generative AI features in HR software
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Oracle (NYSE:ORCL) shares rose around 0.5% in early trading on Wednesday as the IT services giant announced it was introducing generative artificial intelligence features into its human resources software.
In a statement, Oracle (ORCL) said the new capabilities will drive "faster business value, improve productivity, enhance the candidate and employee experience, and streamline HR processes.
Examples of the new generative AI capabilities include quickly generating content after getting a prompt such as a draft title for a job requisition or performance goal, summarization and offering suggestions. 
"With the ability to summarize, author, and recommend content, generative AI helps to reduce friction as employees complete important HR functions," Chris Leone, executive vice president, applications development, Oracle Cloud HCM, said in a statement.
The text still needs to be approved by a human, Oracle (ORCL) said.
The move comes as Workday (WDAY) may be taking market share from Oracle (ORCL) and SAP (SAP) in back office software contracts, according to investment firm RBC Capital.
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