What is the function of Oracle Cloud Infrastructure's Identity and Access Management (IAM) service?

Oracle Cloud Infrastructure's Identity and Access Management (IAM) service is primarily designed to manage user identities and determine access to resources within the cloud environment. This functionality includes creating and managing user accounts, defining roles, and implementing policies that control what users and groups can access.

By using IAM, organizations can enforce security best practices such as role-based access control, which allows administrators to assign permissions based on the specific needs of users. This ensures that users only have access to the resources they need to perform their job functions, thereby enhancing the overall security of the cloud environment.

In contrast, the other options do not accurately represent the main function of IAM. While billing and monitoring are important aspects of cloud management, they fall outside the scope of IAM's focus on user identities and permissions. Likewise, developing cloud applications is a separate activity that does not intersect directly with identity and access management.