H2O.ai has raised $100 million in funding to expand its artificial intelligence development platform
H2O.ai, an AI-powered cloud service, recently announced the closing of a $100 million funding round. The Commonwealth Bank of Australia is one of over 20,000 companies using the H2O's platform. Among the firm's clients are Nvidia Corp and AT&T Inc.
Lalita Singh 
H2O.ai, an AI-powered cloud service, recently announced the closing of a $100 million funding round led by one of its clients, the Commonwealth Bank of Australia, and also with Goldman Sachs, Pivot Investment Partners, and others.
The Commonwealth Bank of Australia, or CommBank, is one of over 20,000 companies that are using the H2O.ai AI development platform as part of their supervised learning initiatives. Among the firm's clients are Nvidia Corp. and AT&T Inc.
Establishing an enterprise AI model usually involves a whole slew of highly technical tasks that not only necessarily require specific expertise and moreover take a very long time to finalize manually. Once development is completed and a neural network is in production, another major technical challenge is ensuring its reliability. The H2O AI Cloud platform from H2O.ai is developed to facilitate much of the work involved in machine learning projects.
A machine learning project in the H2O AI Cloud initiates with training data. The database contains information that is similar to the records that a company is planning to process using the AI application that it is going to develop.
"H2O.ai is forecasting victory in every vertical on every continent and funding and training our customers with AI superpowers to compete with the tech behemoths." "CommBank and H2O.ai are directed by the core belief that we can make the world a better position while providing exceptional service to our communities and customers," said Sri Ambati, Founder and Chief executive of H2O.ai.
"The collaboration will bolster the bank's analytic capabilities and help improve the predictive accuracy of existing models, so we can offer more personalized and targeted solutions at a faster rate," said CommBank Chief Executive Officer Matt Comyn.
