"We have these coding tools now that allow us to build a comprehensive set of software, agent-based software, to implement to automate a complete ecosystem like healthcare or financial services. That's what we're doing at Oracle. That's why we think we're a disruptor. That's why we think the Saaspocalypse applies to others but not to us."
"I do think that AI tools and their coding capabilities would be a threat if we weren't adopting them, but we are, and very rapidly. We are building brand new SaaS products using AI and also embedding AI agents right into our existing applications suites."
"I've not yet met a customer who tells me they're ready to give away their retail merchandising system, their core banking system, demand deposit account systems, electronic health record systems, and some cobbling together of niche AI features are going to replace all of that overnight."
Oracle leadership dismissed concerns about the Saaspocalypse during earnings calls, arguing that AI will threaten other software companies but not Oracle. Chairman Larry Ellison emphasized Oracle's development of agent-based software for complete ecosystems like healthcare and financial services. CEO Mike Sicilia stated Oracle is rapidly adopting AI by building new SaaS products and embedding AI agents into existing applications. Sicilia noted customers remain committed to core systems like retail merchandising, banking, and health records, indicating that AI features alone cannot replace comprehensive enterprise software overnight. The comments address market fears triggered by Anthropic's agentic AI tools, which sparked software stock sell-offs.
Read at Business Insider
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