Technology major Oracle has expanded its retail operations by opening a new innovation and technology centre in Porto, Portugal.
The new facility is located in the Centro Empresarial Lionesa Business Resort. It will initially focus on developing breakthrough retail innovations by leveraging artificial intelligence and machine learning.
The company’s technology team will work closely to create customised integrations and enhancements to the Oracle Retail portfolio, as well as re-usable assets to deliver value to customers.
Oracle Retail senior vice president and general manager Mike Webster said: “Porto is home to a strong pool of tech talent coveted by major tech employers in Europe to Portugal. So it made sense to expand our existing, globally renowned team of Oracle Retail solution delivery experts in Porto by creating a complementary centre for innovation in the area.
“We believe that innovation listens more than it speaks. Our consulting team works hand in hand with our retail customers to understand their unique challenges and needs and translate those into technology extensions that align with our broader roadmap.
“The Innovation and Technology Center will be critical in delivering these customer-driven enhancements to our global retail community.”
The Porto development team of Oracle Retail Consulting has also created Lifecycle Inventory Planning (LIP) solution for a fast-fashion retailer.
LIP integrates system parameters with machine learning to manage typical item, store, day parameters and assist the retailer to obtain an end-of-life inventory projection.
Oracle also plans to hire new members from nearby universities, in business and information technology domains, for the new facility.