Innovation

Oracle Creates Internal Startup To Stay Ahead Of Competition

Multinational computer technology corporation Oracle is looking to shake things up in the innovation department to stay ahead of younger rivals. (It has been around for 40 years, after all.)

To accomplish this, Oracle recently announced plans to create an “internal startup,” said Bloomberg News — a new unit in the U.S. tasked to research and develop new technologies. The types of tech tossed around include AR/VR and artificial intelligence.

“The mission of the organization and these two centers is to build and engineer cutting-edge solutions for our customers around cloud computing, big data analytics, mobile computing, internet of things, cybersecurity,” the company said in a job posting for the new “startup.”

The goal of the new “startup,” also called a “Solution Engineering Center” by the company, is to attract developer talent away from rivals like AWS, Salesforce and Microsoft’s Azure as a means to stay ahead.

This new move follows a trend from the past few years of Oracle making big investments in and around next-gen technology as a means to revamp its solutions for the current technological climate. The ultimate goal, as stated by CEO Mark Hurd, is for Oracle to become the world’s largest enterprise cloud company.

While there’s some stiff competition already well-established in that space, Oracle is making progress.

For instance, during a call with investors last month, CEO Safra Catz said Oracle has been making progress on the cloud front. The company’s quarterly sales of key cloud products saw 73 percent year-over-year growth at the time.

“The investments we’ve made to transition our business to the cloud have been important to ensure that Oracle remains a technology leader,” Catz said. “And we’re now beginning to see the benefits in our results.”

——————————–

Latest Insights: 

Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. Check out the February 2019 PYMNTS Financial Invisibles Report

Click to comment

TRENDING RIGHT NOW

To Top