US-based artificial intelligence (AI) firm DataRobot announced that it will invest S$15 million into Singapore as part of its expansion plans into the region. The investment will be primarily used to set up its regional business HQ here as well as expand its advanced AI R&D centre.
Fifty percent of the initial investment will be spent on hiring. DataRobot hopes to hire 50 employees here by 2019 with 40 per cent of the staff being technical experts and data scientists.
Speaking to the Singapore media, Mr Jeremy Achin, CEO of DataRobot has highlighted that Singapore has an excellent work environment; and its easy access to a wide connection of high skilled technical experts from various fields specifically in the area of fintech.
DataRobot is also looking to work with fintech startups in Singapore. Fintech startups could also tap on their cloud services – DataRobot Cloud as it is much more affordable than investing in physical hardware.Given the availability of data, these companies could tap on A.I for data analytic and automation.
Zidisha, one of DataRobot users, is a great example of this. They are a non-profit peer lender that helps poor people in Africa to get day loans. Clearly, a charity cannot afford expensive Data Scientists on staff and use DataRobot instead.
About DataRobot
DataRobot, an SG:D Accredited company, offers an enterprise automated machine learning platform that empowers users of all skill levels to make better predictions faster. Incorporating a library of hundreds of the most powerful open source machine learning algorithms, the DataRobot platform automates, trains and evaluates predictive models in parallel, delivering more accurate predictions at scale. DataRobot provides the fastest path to data science success for organizations of all sizes.
Also published on Medium.