Shift Technologies Inc
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Consumer Discretionary : Specialty Retail | Small Cap Blend
Company profile

Shift Technologies, Inc. is an end-to-end e-commerce platform transforming the used car industry with a technology-driven customer experience. Its segments include Retail and Wholesale. The Retail segment represents retail sales of used vehicles through the Company's e-commerce platform and fees earned on sales of value-added products associated with those vehicles sales, such as vehicle service contracts, guaranteed asset protection waiver coverage, prepaid maintenance plans, and appearance protection plans. The Wholesale segment represents sales of used vehicles through wholesale auctions or directly to a wholesaler (DTW). It provides technology-driven solutions throughout the car ownership lifecycle. It operates approximately nine vehicle inventory inspection, reconditioning and storage centers, with six spanning the West Coast from San Diego to Seattle and three new facilities in Austin, San Antonio and Dallas, Texas. It conducts its business through its wholly owned subsidiaries.

Closing Price
$0.8676
Day's Change
0.1945 (28.90%)
Bid
--
Ask
--
B/A Size
--
Day's High
0.91
Day's Low
0.70
Volume
(Heavy Day)
Volume:
12,216,946

10-day average volume:
9,441,554
12,216,946

Oracle Expands Global Network of Industry Innovation Labs

7:20 am ET April 26, 2022 (PR Newswire) Print

Opens new 30,000-square-foot facility outside of Chicago with other Industry Labs opening later this year in England and Australia

From robot dogs to AI and drones, lab brings transformative Oracle and partner technologies together so customers can explore solutions to their toughest challenges

Oracle today opened the doors to its new 30,000-square-foot Oracle Industry Lab just outside of Chicago, Illinois. The working lab provides customers a hands-on environment to develop new ideas and create solutions leveraging technology from Oracle and more than 30 industry partners. Supported by Verizon 5G Ultra Wideband, the lab will first focus on the energy and water, construction and engineering, communications, and manufacturing industries. Later this year, Oracle will open a new sustainability and mobility-centered lab in Reading, England and a construction industry-focused lab in Sydney, Australia.

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See the lab in action and hear from our partners participating at the lab today at: https://bit.ly/3xQ8Xne.

"The core technology used in the world's most essential industries doesn't run in an office, it runs on a construction site, in the utility operations center, on the manufacturing floor," said Mike Sicilia, executive vice president of Oracle's vertical industries. "So, why not let customers develop, test, and validate technology in similar environments? The lab brings these scenarios to life so that collectively, customers, partners, and Oracle can create solutions to fuel opportunity and solve the really tough problems these industries are facing."

"We see huge value in a facility like the Oracle Industry Lab where we can test and validate new technologies in a simulated worksite environment," said John Jurewicz, senior director of technology at Walbridge. "Once we prove the value and approach, it's much easier to take them out to our own worksites and quickly scale them up."

UtilitiesWater, gas, and electric utilities are facing unprecedented regulatory, environmental, and customer-driven demands. Technology will play a critical role in helping them navigate these challenges and continue to deliver the safe, reliable, and clean water and energy resources that power our world. With simulated environments including a connected neighborhood and smart studio apartment, the lab will enable customers to experiment with technologies such as sensors to help relieve stress on the electric grid, drones and augmented reality to improve safety and efficiency in field work, and AI and behavioral science to guide households to be more energy efficient. Collaborators include Copper Labs, EDX Technologies, Inc., Constellation Clearsight, Micatu Inc., and Samsung SmartThings, Inc.

CommunicationsFor service providers, 5G represents an opportunity to not only bring new, more reliable services and products to consumers, but also drive new revenue streams in the enterprise. These can range from powering robotic surgeries to smart factories. At the lab, visitors can experiment with how cloud native communications technologies are enabling automation and scaling to meet expected growth in 5G subscribers, connected devices, and demand for rapid service innovation. They will also be able to explore how service providers can partner with other industries to co-create B2B2X (business-to-business-to-X) offers and business models. For example, visitors will be able to use VR smart city scenarios to demonstrate how to engage residents using a cloud-based immersive gaming experience enabled by a service provider and ecosystem of partners. Coupled with Verizon 5G Ultra Wideband and Oracle's communications 5G core network technology, visitors will be able to see the power of 5G in action across several complex scenarios. Collaborators include EDX Technologies, Inc., ESRI, and Verizon.

Construction and EngineeringThe construction and engineering industry is rethinking every aspect of project delivery for both owners and builders as they confront material constraints, rising costs, shifting project types, and a retiring labor force. At the lab, Oracle and partners will explore the power of a connected ecosystem leveraging technologies such as visual progress monitoring, sensor-based tracking, digital twins, autonomous laser scanning, augmented reality, IoT, and more. Together with Oracle's portfolio of construction and engineering solutions, these offerings will enable visitors to test and validate new solutions to inform predictive decision-making, reduce inefficiency, mitigate risk, and foster better outcomes. Collaborators include CAXperts, ESRI, FARO Technologies, Inc., Hilti, Intelliwave Technologies, Milwaukee Tool, Newmetrix, OpenSpace, Reconstruct, Skydio, Inc., Triax Technologies, VREX, and WakeCap Technologies.

ManufacturingA global pandemic, extreme supply chain and labor shortages, and increasing customer expectations are forcing manufacturers to adapt faster than ever. To compete, companies need to digitize their businesses and increase connectivity throughout their operations by embedding technologies such as IoT, AI, augmented reality, digital twins, predictive analytics, and factory automation. The smart manufacturing lab enables customers to experiment with these technologies to demonstrate their impact on efficiency, quality control, customer satisfaction, and sustainability. Collaborators include KanbanBOX, Mitsubishi Electric Automation, Inc., Omron Automation Americas, RF-SMART, and TrueCommerce, Inc.

Learn more about the Oracle Industry Labs at www.oracle.com/innovation.

About OracleOracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.

TrademarksOracle, Java, and MySQL are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

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View original content to download multimedia:https://www.prnewswire.com/news-releases/oracle-expands-global-network-of-industry-innovation-labs-301532283.html

SOURCE Oracle

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