Data will be a key factor that sets businesses apart competitively in the coming years, and success will depend increasingly on artificial intelligence and machine learning.
So believes SriSatish Ambati, cofounder and CEO of machine-learning startup H2O.ai.
“By 2022, I expect every company to include in their shareholder announcements how much money they made from their data,” Ambati said in an interview.
And that’s where he hopes his company will play a big role. Founded in 2011, H2O.ai develops an open-source machine-learning platform called H2O that’s used by insurance, healthcare and financial services companies to do things like predict churn, pricing and fraud. The company aims to help developers and data scientists leverage powerful machine-learning algorithms or, as it puts it, “democratize artificial intelligence for business.”
The company says more than 5,000 organizations use its software, along with some 10 percent of the world’s data scientists. Capital One, Transamerica and Progressive are among its customers.
Machine intelligence and predictive capabilities make the software adaptable, Ambati says, so that companies can continue to learn from their data even as conditions change.
There’s a problem for some companies, however: fear. Lost jobs are among the biggest causes for concern around AI, and the worry can inhibit some companies from adopting machine-learning technologies.