Mark Hurd joined Forbes journalist Steven Bertoni to discuss enterprise IT, cloud technology and leadership on the Forbes Interview podcast. Here are a few of the topics he covers in the conversation:
The generational shift of business IT to the cloud
Hurd identifies the problem of aging enterprise technology, noting that “applications built twenty years ago are trying to deal with the problems of today.” He details the advantages of cloud applications over legacy systems by describing the core of Oracle’s business as building technology to solve problems and innovate.
The investment needed to build Oracle’s cloud capabilities
Hurd cites new data centers, a growing sales team, and increased focus on research and development as contributing factors to building Oracle’s cloud capabilities. He explains how this strategy has “opened up a whole new midmarket of customers [Oracle] never had before,” referencing startups without their own data centers. Building more data centers also allows the company to extend global reach through local capabilities, which Hurd describes as “a distinct advantage.”
The duties of a CEO
Hurd establishes the three core responsibilities of running a business: ensuring the right strategy, creating efficiency to execute on strategy, and getting the right people with the proper tools and training. Noting the two competencies of engineering and sales, he reiterates that “to truly win in this industry you have to be great at both.” He also references the advantage of having a strong executive team to provide quality help and support, positively describing his partnership with Chairman and CTO Larry Ellison and CEO Safra Catz.
Technology trends in Silicon Valley and enterprise companies
Hurd predicts that “AI [will be] integrated into most everything that comes to market, and I think it’ll be very exciting.”