In 2019, the Wall Street Journal reported findings from PwC stating that global GDP could increase as much as 14 percent by 2030 as a result of AI and ML. Thanks to the mass digital migration caused by the pandemic, companies are investing more in their digital strategies.
DataRobot, a leading organization in the enterprise AI industry, announced it is acquiring machine learning platform Algorithmia. The platform is designed to provide accurate and timely machine learning model lifecycles, and when combined with DataRobot, unlocks new AI data capabilities.
“Algorithmia’s people and technology significantly enhance our mission to rapidly move from experimental to applied AI by helping customers bring every model into production with rapid time to value,” said Dan Wright, CEO of DataRobot. “We are thrilled to welcome the Algorithmia team and advance our leading MLOps offering with world-class, enterprise-grade MLOps infrastructure to organizations across the globe.”
Algorithmia’s platform has been utilized by over 130,000 IT and data professionals as a tool to produce high-functioning models. The platform is easy to use and takes advantage of existing IT operations procedures to help move products into production faster.
According to Algorithmia, 85 percent of machine learning models will never make it to the production stage. Through the integration, DataRobot aims to give its users more value out of their ML models with deeper intelligence.
“We understand that businesses cannot get the value of their ML models unless they have the ability to deliver those models quickly, reliably, and at scale,” said Diego Oppenheimer, CEO of Algorithmia.
“It’s been clear to us for many years that DataRobot shares this philosophy, and we’re thrilled to combine our dedication of enabling customers to thrive in today’s market by delivering more models in production, faster, while protecting their business.”
The Algorithmia acquisition comes during a time of growth for DataRobot, which also announced $300 million in Series G funding for its innovation ventures.