DataRobot Invests S$15 Million to Boost AI in Singapore
The US-based company, one of the first foreign deep tech firms accredited under the National Accreditation@SG Digital programme, will set up its regional HQ and second R&D centre in Singapore
Singapore — November 21, 2017 — US-based artificial intelligence (AI) firm DataRobot announced today that it will invest $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.
Depending on economic and business performance, DataRobot plans to increase its investment into the Singapore operations by up to an additional SGD50 million. Fifty percent of the initial investment will be spent on hiring. DataRobot plans to hire 50 employees here by 2019 with 40 per cent of the staff being technical experts and data scientists.
Mr Jeremy Achin, CEO and co-founder of DataRobot said: “We see Asia-Pacific as a key growth market for us. The rise of the data-driven economy favours corporations which can make better sense of their data to gain a competitive advantage. The future is in AI and we believe Singapore can be the regional centre of this brave new world.”
Mr Edwin Low, Director of Accreditation@SGD said: “Globally, there is a shortage of data scientists. DataRobot’s product empowers employees with deep domain knowledge to perform complex data science work with their automated machine learning platform. This will help alleviate the need for data scientists and thus enable more companies to benefit from AI. We are pleased to partner DataRobot in establishing Singapore as their hub for their next phase of regional growth.”
Artificial intelligence (AI) has been identified by the Singapore Government as one of the key pillars of technology that it will focus on to keep Singapore economically competitive. Earlier this month, Minister for Communications and Information Dr Yaacob Ibrahim announced the addition of US-based DataRobot into its list of AI technology providers under the Accreditation@SG Digital programme – which gives the stamp of approval to cutting-edge tech solution providers which have passed the Infocomm Media Development Authority’s (IMDA) stringent evaluation process and accelerates their growth in the region.
DataRobot’s technology has been used globally to help insurance companies detect fraudulent claims, businesses set competitive pricing, financial institutions predict loan defaults and many more. DataRobot has been recognised as CB-insights’ top 100 AI companies and many of DataRobot’s data scientists are also thought leaders in their international community.
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. For more information, visit www.datarobot.com.
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