Analytics software company Databricks is releasing its own AI-powered graphics generator for enterprise customers.
“Our goal is to help people get value out of data and AI, and one of the most important things for people is, once you have all that data with AI, how do you visualize it,” Arsalan Tavakoli, DataBricks co-founder and SVP of field engineering, told Yahoo Finance's Catalysts. “A key advantage of Databricks is that this visualization tool is deeply embedded throughout the product. And, [it’s] It not only visualizes the data, it also has the intelligence to understand the data.”
Tavakoli will elaborate on how the technology can enable companies looking to use AI to extract more meaning from their data and improve productivity.
To learn more about expert insights and the latest market trends, click here to watch this full episode of Catalysts.
This post Luke Carberry Morgan.
Video Transcript
As the race continues in the AI field, Data Breakthrough has unveiled a new AI graphics program that can compete with the likes of Microsoft and Sales Force.
The business tool allows users to ask questions of their data and automatically generates charts, graphs, and more based on that data.
The data software provider now expects revenue to rise by more than 60% in the first half of the year following the news.
To find out more about this, we speak with Salon, co-founder and SVP of Field Engineering at Data Breaks.
Thank you very much for coming.
Our salon.
First, I want to start with this new data visualization tool.
As you know, the current trends are dominated by Microsoft and Sales Force products.
What do you think is Data Brick's competitive advantage with this tool?
First of all, thank you for having me this morning.
Um, you're right, it's a new data visualization tool that we looked at.
First, Data Breaks is a company.
Our goal is to help people derive value from data and AI.
And one of the most important things for people is that they have all the data.
How does AI visualize that?
A key benefit of Data Breaks is that this visualization tool is deeply embedded throughout the product.
And it has the intelligence to not only visualize data, but also understand it.
This means you can answer questions, expose them to advanced analytics, and empower nearly anyone in your organization to gain insights from what was previously a very cumbersome process.
When you look at the growth numbers, they're truly staggering.
Sales grew nearly 60% to $2.4 billion in the first half of the year, but when we talk about future growth, firstly where is that demand going to come from?
And what does that tell us about where we are in the AI adoption cycle, and whether we're still in its early stages?
Yes, that's a great question.
Well, frankly, we're excited about where the company is.
Um, so to answer your question, as an organization you're asking, who are the applicable customers?
So you're asking, who is going to get value out of the data?
And AI is the most exciting part for almost every business across the globe.
Um, data break, from a growth standpoint, it's not just one place.
So, an advantage of this business is that it is not overly focused on any one customer segment.
It is widespread.
So even our largest customers have only a small share.
As a result, we have significantly increased our existing client base and are rapidly adding many new clients, both large and small, to our base.
Well, from a business perspective, I'm excited that there seems to still be a lot of opportunity. I think it's still early days for companies to adopt data and AI, but what are you hearing from your customers about their ability to adopt and leverage AI to drive efficiencies and protect their balance sheets? A lot of companies are telling me they're using their AI capex for that purpose.
But I'd love to hear what the evidence is.
Well, well, well, Candy, I think the excitement outweighs the reality right now.
Um, so I think every organization has a mandate from their CEO and their board of directors that says, “Don't get left behind.”
We need to dive into AI.
Yeah, and I certainly know that they're all experimenting, but that switch from experimenting with something to actually putting it into production where you can leverage business value is incredibly difficult.
We found that over 85% of organizations struggle to actually move to production.
The reason I ask is because I think a lot of people feel that way.
There's a big model in the middle that answers your questions and that's it.
The reality is much more difficult than that.
Well, first of all, there are a lot of steps involved and people have a lot of concerns about what if this model is an illusion?
How you ensure that something is of high quality is very different than wanting something from a consumer perspective.
As a business, we want to provide something to our customers that is safer, more efficient and of higher quality. Can you help me summarize this document or my child's college essay?
So, you know, our primary focus is on a lot of the features that help get you from excitement and interest to production.
Arslan is really fast.
Here, Data Breaks was the sixth-highest rated private company for future revenue growth prior to this announcement.
Um, when will it go public?
Look, our CEO has always said we're in no rush to go public.
Luckily for us, that’s not the main reason we have to do so.
He has always said that we are going to go public and we will do it when it makes sense for us.
But for now, we're excited about where our business is and being able to continue to grow and invest in our business.
Okay.
fair enough.
And many investors are anxiously awaiting and excited for you to actually go public.
Arsalan Tako, I'm glad you're here.
We hope the co-founder and senior vice president of field engineering at Yahoo Finance Data Bricks will be back again soon.
thanks so much.
