Paving The Way For AI-Powered Solutions In The Region
As the brainchild of two of the top data scientists in the world, it comes as no surprise that DataRobot — an artificial intelligence (AI) solution provider — is at the forefront of the automated machine learning industry.
However, things didn’t start out easy for the duo.
One of the challenges faced when starting up DataRobot was that AI was still very much a foreign concept at the time and it was difficult to pitch the idea as an enterprise solution to potential investors.
Though this fact didn’t deter the team in the slightest, and by April 2013, the startup managed to raise USD 3.3 million in a seed round with Atlas Venture. Following this initial success, DataRobot has managed to further raise their capital to more than USD 124 million today.
But what exactly is DataRobot?
With the number of data scientists around the world facing a shortage, DataRobot is intended to offer an alternative by providing an enterprise-focused platform using automated machine learning to empower users of varying skill levels. Even those without any prior knowledge will be able to easily leverage the platform to quickly build and deploy their predictive models.
Within just a few days of training, the company promises that anyone can be a pro at data analysis using the platform. DataRobot’s solution empowers companies to quickly find key insights and hidden patterns in data. This, coupled with a quicker market prediction process has enabled DataRobot to help companies in various facets including detecting fraudulent claims, setting competitive pricing based on the market, predicting loans defaults for financial institutions, and many more.
Following their initial success, DataRobot has also notably expanded in terms of office space — in particular, a 4,000 square-foot office in Singapore’s Central Business District.