Oracle Corporation (NYSE:ORCL) Q3 2023 Earnings Call Transcript

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That’s how our system is architected. That’s how we’re delivering it to us to customers right now. It’s attracted a lot of attention. Actually, it’s not only much better for the patient, helps deliver better — gives doctors better information, deliver better outcomes, but it’s also less expensive to do it that way than every hospital maintaining their own system to — rather — it’s better that they should share a system in the cloud and integrate their data for the benefit of the patient. Saving lives is exactly what it’s doing — what’s happening with our partner at Ronan and our partner at MD Anderson and other partnerships I could go into in more detail, and I’m happy to but not on this call, is these disease-specific AI modules where — and the telemedicine modules that we’re delivering, allows a patient in a community hospital in Montana to get the benefits of the wisdom of the best specialty cancer specialists at MD Anderson Hospital in Texas or a Memorial Sloan Kettering doc in New York or a Mass General doctor who’s on faculty at Harvard Medical School.

The fact that we’re now using AI and telemedicine and instrumenting these diagnostic devices so the docs — so — in the community hospital, we have diagnostic devices that the Harvard faculty, then there at Mass General can look at and then they inspect the AI module to, a, gather much better information. And with that better information, have the best minds and AI — real minds and artificial intelligence processing that information and prescribing, hopefully, the best procedure or the best medication for that particular patient, which translates into reducing readmission to the hospital as they did at MD Anderson and ultimately saving lives.

Brad Zelnick: The mission is so important. If I could just sneak in a quick one for Safra to follow up. Safra, 30% organic cloud growth for the year implies significant acceleration in Q4. What supports your confidence in delivering that?

Safra Catz: Well, remember, as I told you, we have dropped a large number of data centers. And as they become available, we have customers waiting to get started and use them. So we have commitments from customers to quite an enormous amount of consumption. And so they’ve basically been waiting for us. We’ve — it’s taken a while in all these different countries to open these data centers and to make them available to our customers. And so we know they are actually very impatient to use the capacity as it becomes available. And we just have a lot of momentum and a lot of commitment from our customers and a lot of enthusiasm around our offerings. And so this is — that’s how the math works.

Ken Bond: Thank you, Brad and Safra. A telephonic replay of this conference call will be available for 24 hours on our Investor Relations website. Thank you for joining us today. And with that, I’ll turn the call back to Emma for closing.

Operator: Thank you. This concludes today’s conference call. Thank you for attending. You may now disconnect.

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