Analytics software company Databricks is launching its own AI-powered graph builder for its enterprise clients.
“Our goal is how to help people take advantage of data and AI. And one of the most important things for people is they have all this data in AI, how do they visualize it- they ?” Arsalan Tavakoli, Databricks co-founder and senior vice president of field engineering, told Yahoo Finance Catalysts. “The main advantage of Databricks is that this visualization tool is deeply integrated throughout the product. And on top of that, it not only visualizes the data, but also has the intelligence to understand your data. »
Tavakoli explains how the technology will enable businesses looking to use AI to extract more meaning from their data and increase productivity.
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This message was written by Luke Carberry Mogan.
Video transcription
As competition continues in the AI space, data breaks, heralding a new AI graphics program that can rival Microsoft and Sales Force.
This business tool will allow users to ask data questions that automatically generate things like tables and graphs based on user data.
Now, the data software provider is forecasting sales growth of more than 60% for the first half of this year thanks to this news.
So to learn more, we’re going to bring in salon to data breaks, co-founder and senior vice president of field engineering.
Thank you very much for being here.
Our living room.
I want to start with this new data visualization tool.
As you know, the main ones are already those of Microsoft and Sales Force.
In your opinion, what is the competitive advantage of data bricks with this tool?
First of all, thank you for inviting me this morning.
Um, as you mentioned, the new data visualization tool that we’ve been looking at.
First of all, Data Breaks is a business.
Our goal is how to help people take advantage of data and AI, that’s right.
And one of the most important things for people is that they have all this data.
And how do they visualize AI?
The main advantage of data breaks is that this visualization tool is deeply integrated throughout the product.
And on top of that, not only does it visualize the data, but it also has the intelligence to understand your data.
So being able to answer questions, expose them to advanced analytics and help just about anyone in the organization get that information where previously it was a very expensive process for them, Arsalan.
When you look at your growth numbers, I mean, it’s really astounding.
You have about 60% sales growth that stands at 2.4 billion here in the first half. When you talk about this future growth, I guess where is this demand coming from?
And what does that tell us about where we are in this AI adoption cycle and whether or not we’re still in these early stages?
Yeah, that’s a great question.
Uh look, we, we’re honestly excited about where the company is.
Um And to answer your question, as with any organization that you ask, well, who are the customers affected?
And then you wonder who are the people who are trying to make the most of the data?
And AI, and that’s pretty much every company you talk to across the planet, that’s been the most exciting part.
Um And then from a data break perspective, from a growth perspective, it’s not just in the same place.
So one of the beauties of the business is that it’s not heavily focused on one group of customers.
It is widespread.
So, even among our biggest clients, we only represent a small part of the portfolio.
So you see we continue to grow strongly in our existing customers and quickly add many, many new customers, large and small, to the base.
Um, so we’re excited from a business perspective that there still seems to be so much opportunity and I think we’re still in the early stages of, you know, companies adopting data and AI, what are you hearing from customers about their ability to adopt and use AI to drive efficiencies and to kind of protect their balance sheets because that’s something that a lot of companies say they’re using for their investments in AI to do so.
But I would like to hear from you what the evidence looks like.
Yeah, I think, uh, honey, I think the excitement is overtaking the reality right now.
Um, so I think every organization has a mandate from the CEO and the board can’t be left behind.
We need to dive into AI.
Um And we’ve absolutely seen that they’re all experimenting, but going from how to go from experimenting to actually putting something into production where you’re actually leveraging the business value is incredibly difficult.
We found that more than 85% of organizations struggle to get into production.
And the reason is I think a lot of people thought that was the case, I ask a question.
There’s a big pattern somewhere in the middle and then he answers the question for me and I’m done.
The reality is that it is much more difficult than that.
Um, first of all, there are a lot of steps involved and there are, people have a lot of concerns around, you know, what if this model hallucinates?
How can I ensure that there is high quality, it’s very different when you know, you’re asking for something from the consumer’s point of view.
You know, can you help me summarize this document or with my children’s college essay versus a business when you’re offering something to customers where it needs to be much more secure, more efficient and high quality.
And so, you know, our main focus has been a lot of these capabilities to help them move from enthusiasm and interest all the way to production.
Arslan very quickly.
Here, Data Breaks is the sixth most valuable private company before this announcement in terms of future revenue growth.
Um, when are you going to go public?
Look, our CEO has always said we’re in no rush to go public.
We, we’re fortunate, uh, that it’s not a key factor in having to do it.
He always said we would make it public and we would do it when it made sense to us.
But right now, we’re just excited about the state of the company and our ability to continue to grow and invest in it.
All right.
Fair enough.
And a lot of investors are excited and really waiting for you to actually go public.
So Arsalan Tako, nice to have you.
We hope to see you back here at Yahoo Finance Data Bricks, Co-Founder and Senior Vice President of Field Engineering.
Thank you so much.
