Citi Ventures Invests in DataRobot for Pioneering Automated ML
Customer Company Size
Large Corporate
Region
- America
Country
- United States
Product
- DataRobot AI Cloud
- AutoML
- Automated Time series
Tech Stack
- AI
- Machine Learning
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Productivity Improvements
- Customer Satisfaction
- Digital Expertise
Technology Category
- Analytics & Modeling - Machine Learning
- Analytics & Modeling - Big Data Analytics
Applicable Industries
- Finance & Insurance
Applicable Functions
- Discrete Manufacturing
- Quality Assurance
Use Cases
- Predictive Maintenance
- Fraud Detection
Services
- Data Science Services
About The Customer
Citi Ventures is the innovation arm of Citibank, a multinational investment bank and financial services corporation headquartered in New York City. The organization is dedicated to harnessing the power of Citi to help people, businesses, and communities thrive in a world of technological change. Citi Ventures explores, incubates, and invests in new ideas in partnership with Citi colleagues, clients, and the innovation ecosystem. The team focuses on six key areas: Financial Services & Technology, Commerce & Payments, Data Analytics & Machine Intelligence, Security & Enterprise IT, Marketing & Customer Experience, and Property Technology. Since its formation in 2010, Citi Ventures has invested in more than 100 different companies to augment Citi’s products and services.
The Challenge
Citi Ventures, the innovation arm of Citibank, is constantly on the lookout for emerging trends in technology and financial services that can help solve challenges faced by Citi and its clients. Since its inception in 2010, Citi Ventures has invested in over 100 different companies to enhance Citi’s products and services. However, the organization was seeking innovations that could solve challenges for Citi and its customers more efficiently. They were particularly interested in the field of AI and machine learning, which they saw as game-changing for the financial industry. They were looking for a solution that could empower both data scientists and business users, automating much of the modeling process and freeing up their time to focus on solving complex business problems.
The Solution
Citi Ventures chose to invest in DataRobot, recognizing it as a market leader in extending AI and machine learning beyond data science teams. DataRobot's AI Cloud platform covers the entire modeling lifecycle, from data preparation to deployment into production to model monitoring and risk management. This comprehensive solution appealed to Citi Ventures, as it allowed their data scientists to focus more on interpretation rather than setting up models. The platform also integrates well with Snowflake and Databricks, enabling customers to get more out of their investments in AI and machine learning. With DataRobot AI Cloud, Citi data scientists and other business users were able to cut much of the data prep and monitoring associated with modeling. The solution narrows down models that may be the best fit and allows Citi to tap into hundreds of millions of models across all DataRobot customers.
Operational Impact
Quantitative Benefit
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