In The Press
With his extensive background in technology and leadership of some of the world’s top companies, Mark Hurd has been featured in several major news publications, including CNBC, Forbes, and USA Today. Sharing his thoughts on the latest in enterprise technology, Oracle announcements, or contemporary industry topics such as artificial intelligence, Mark is a frequent guest on CNBC and has been interviewed by industry influencers such as Kara Swisher from Recode. Other media appearances feature Mark Hurd at Oracle events and conferences. CNBC followed Mark for a day at Oracle OpenWorld as he addressed audiences, hosted panels, and spoke with customers. Find recent articles, videos, and other content featuring Mark Hurd and his latest thoughts on the technology industry.
Forbes interview host Steven Bertoni and Mark Hurd discuss current IT environments, future technology trends and modern business leadership essentials.
Hurd notes that IT environments have shifted back towards vertically-optimized stacks while transitioning to the cloud. This departure from disparate systems from multiple vendors increases efficiency and security while reducing maintenance costs and allowing for more innovation.
“It costs less, it’s actually more secure, and you get a ton more innovation at the same time.”
Hurd describes how transitioning to a cloud service company has allowed Oracle to access new types of customers through investment in cloud technologies and data center expansion. Hurd also talks about how the company is competing against companies like Amazon, Microsoft, Salesforce, and SAP.
At this year’s Oracle CloudWorld in New York City, Mark Hurd examined ongoing changes in corporate IT, as economic growth and technological advancement affect businesses worldwide.
During his keynote, Mark Hurd outlined key factors for corporate IT investment, including economic growth and a need to upgrade existing systems. Hurd noted that growth in IT spending will allow companies to both update legacy systems and innovate, positioning them to better compete against emerging disruptors.
“They’re disrupting your business with a brand new business model […] they’ve disintermediated an industry.”
Hurd also pointed out the impact of increasing economic growth in the United States as corporate tax cuts and global GDP growth encourage IT spending, driving growth through reinvestment in the business and job creation. Alongside future IT investment, Hurd shared his forecast on the enterprise cloud market, seeing increased integration of artificial intelligence in cloud platforms and applications and the emergence of a few dominant cloud service providers.
In a conversation with industry analysts, Mark Hurd provides his perspectives on the transformation of the enterprise IT business model and how the tech industry will adapt to demands for a new type of solution.
Citing industry history, Mark Hurd identifies the current predicament facing businesses, which are accustom to purchasing parts and systems individually from a variety of vendors and using systems integrators to merge them. Hurd points out that this model requires constant maintenance to sustain, which detracts from a business’s ability to produce new products and services.
“It’s gotten to the point with these customers where 90% to 95% of their budget is maintenance and they simply can’t afford to innovate.”
Cloud technology has started to change this approach, allowing businesses to simplify, lower costs, and improve security. Recalling his predictions from Oracle OpenWorld 2017, Hurd highlights the shift away from corporate data centers to provider-managed cloud solutions, reducing maintenance costs. Finally, he suggests that the pace of this transformation may drive on-premises solutions to extinction as their value propositions become harder to prove.
During a CNBC Exclusive interview with Jon Fortt, Mark discusses cloud technology, artificial intelligence, and the impact General Electric’s stock market performance is having on the industry.
Mark Hurd states that artificial intelligence is currently a big trend in the tech industry with many new companies saying they are in the business. According to Mark, many of these claims are unsubstantiated and possibly a company’s attempt to impact their stock prices. Nonetheless, Mark sees the potential for artificial intelligence to have a large impact on the way companies service their customers, and the way employees work and people live.
“Everybody in the [Silicon] Valley is saying they’re in AI…most of the time, it’s just nonsense.”
Mark Hurd also weighs in on General Electric’s declining stock prices. He states that what is currently happening within the company must be deep-rooted, however the company still has tremendous opportunity available to them.
“Whatever is going on at GE this obviously has deep roots…but at the end of the day, they’re in some very good businesses…[businesses] that have the opportunity to provide lots of information, lots of data, and they can modernize those businesses… I think they have a tremendous opportunity to monetize those data sets.”
Follow Mark on a typical day at Oracle OpenWorld as he meets with customers, attends roundtables, and gives a keynote address at Oracle’s annual enterprise technology conference.
With an early morning start, Mark Hurd has a full day of executive meetings, panels with politicians, and addressing crowds. Over the course of the day, Mark speaks with visitors from across the globe.
Mark’s Oracle OpenWorld keynote address this year tackled the multitude of challenges facing top companies in 2017, from cybersecurity breaches to industry disruptors. Mark revisited some of his predictions on the future of the cloud from previous Oracle OpenWorld keynotes, noting that his numbers were in line with other industry research. Speaking with executives from companies such as FedEx and Gap, Inc., Mark discussed the necessity for scalable technology and streamlining of data from complex logistical processes, touching on how companies are using Oracle Cloud applications to innovate.
Over the course of Oracle OpenWorld he will have interacted with around 675 customer representatives.
In an in-depth Q&A piece for Forbes BrandVoice, Mark talks with the chief editor of Oracle’s Point publication, Aaron Lazenby, about innovation in the cloud space.
Breaking down the opportunity, Mark explains that the benefits of the cloud are twofold: not only is it innovative, but it significantly cuts costs.
“There’s a lot of pressure on companies to perform,” says Hurd. “Executives need ample flexibility to respond to the market. That means both reducing costs and increasing innovation.”
The innovation in the cloud is continuous, Mark says. Consumers expect immediate gratification, so the ability for the cloud to constantly update features is advantageous on many levels. Catalyzing that innovation is an increase in development and testing, which, Mark predicts, will vastly increase in the next decade as a result of cloud capabilities.
In turn, future CIO responsibilities will shift accordingly. CIOs will become more focused on navigating their enterprises towards lower cost infrastructure, while IT industry leaders consolidate and simplify in the name of cost-efficient innovation.
In a podcast interview with Recode’s Kara Swisher, Mark discusses Oracle’s decision to transition into cloud computing. Mark claims that you need three things to make this change: a differentiated system, sufficient investments, and patience.
The cloud is the future; it is the fastest growing service in the enterprise industry. To compete with startups, the transition was necessary, but risky, Mark says. During the creation of the cloud product, there could be no sales and thus no income, so it requires both speedy development and the patience to see the return on the investment.
“We made the decision to go at this hard three or four years ago, changing virtually everything in the company,” Mark said. “We made the decision to build all these global data centers, to deploy this technology and to do it fast.”
After shares for Oracle opened at an all-time high at $51.62 in mid-June 2017, Mark joined CNBC’s Squawk Alley to talk about the company. Many consider Amazon to be one of Oracle’s biggest competitors, but Mark notes that they are fundamentally different in their offerings.
“We’re different than Amazon. Amazon offers infrastructure, and they started in infrastructure,” Mark said. “We’re a differentiated intellectual property company. We make applications. We make platforms, databases, Java, business intelligence, analytics, machine-to-machine capability embedded in those applications.”
Mark says it comes down to scale, asserting that Oracle has the most application offerings and in turn reaches a quarter of the world’s infrastructure. The next step is AI.
Joining CNBC’s Squawk Alley, Mark talked about Oracle’s superior offerings compared to Salesforce and Amazon. While Salesforce is scaling up at a faster pace to $10 billion in cloud revenue, Mark exuded confidence that Oracle will far surpass that mark.
“Are we going to stop at $10 billion? Are you kidding? So this is a tremendous opportunity for us to grow and blow way past $10 billion,” Mark said.
Mark also discussed Amazon: given that Amazon built their infrastructure years ago, Oracle can use this information as a competitive advantage, Mark says. This work is paying off, and Oracle recently announced a new partnership with AT&T, moving enormous amounts of data to Oracle’s systems.
In an interview with Jon Swartz at USA Today, Mark speaks about the strengths of Oracle as a cloud computing company. While Oracle came later to the cloud industry, Mark says that the infrastructure they built is fresher than competitors’.
Even amidst heated competition from Amazon and other rivals, Mark is optimistic. “They can say what they want, but our strategy and momentum are irrefutable — we are the fastest-growing cloud company at scale,” Mark said.
The industry’s race for the cloud is in its early days, but it is expected to accelerate in coming years. To keep up momentum and establish their space in the competition, Mark is prioritizing growth, intending to expand its acquisition of cloud start-up NetSuite.