PALO ALTO, Calif., Aug. 12, 2020 /PRNewswire/ -- Fiddler announced a
strategic collaboration with Lockheed Martin Ventures inclusive of
a strategic cooperation agreement and an investment. As part of the
investment, Lockheed Martin Ventures will work with Fiddler on the
development, testing and scaling of Fiddler's technology in
applying explainable AI in the defense and aerospace
industries.
This work is critical for businesses to get complete visibility
into their production AI systems to ensure high performance at all
times. At the heart of Fiddler's Platform lies AI Explainability,
which provides continuous insights understandable by humans to help
build responsible, transparent, and fair AI systems.
Fiddler was founded in October 2018
by CEO Krishna Gade and CPO Amit
Paka, with the mission of making AI trustworthy for all
enterprises. Gade and Paka believed that there was a need for a new
kind of Explainable AI Platform that would enable organizations to
get ahead of key issues around AI operationalization and lack of
transparency within AI systems.
"Explaining AI outcomes is key to building great AI solutions -
when businesses can understand why their models are doing
something, they are empowered to make those models better," said
Chris Moran, General Manager and VP
of Lockheed Martin Ventures. "Fiddler is designing its Explainable
AI Platform to get ahead of this, and we hope it enables users to
gain actionable insights with continuous real-time monitoring of AI
that ensures precise and rapid error detection on an ongoing
basis."
Fiddler is the first startup to bring true explainability and
continuous monitoring to the enterprise, enabling companies to
monitor, explain, and analyze their AI solutions at the scale
required in the modern business environment.
According to CEO Gade, "When you build models you don't always
intrinsically know what features are impacting the models. It's
pretty much a black box. When pushing these models to production,
operationalization becomes a challenge because of the lack of
insight into errors, potential model decay, or anomalies. An
Explainable AI Monitoring system provides deep model insights with
actionable steps, helping users better understand the problem
drivers, root cause issues, and analyze their models, essentially
unlocking that black box."
"The long-term vision is to help enterprises build trustworthy
AI experiences for their customers by deploying explainability
through the entire lifecycle of AI systems from training, testing,
and validation to deploying, monitoring, and optimizing AI
solutions," says CPO Paka.
With industry-wide momentum around the need for explainable and
responsible AI, the company has raised a total of $14 million, including a $3 million seed round raised in October 2018 led by Lightspeed with participation
from Bloomberg Beta and Haystack and $10.2
million in Series A funding led by Lightspeed and Lux
capital, with continued participation from Bloomberg Beta and
Haystack. Fiddler is working with a range of customers across
industries, from Fortune 100 companies to startups in the emerging
technology space.
Fiddler has been recognized for its industry-leading
capabilities and innovation - they were recently named a Technology
Pioneer 2020 by the World Economic Forum, one of Forbes' companies
to watch on its 2020 AI 50 list, and a 2019 Cool Vendor in
Gartner's Enterprise AI Governance and Ethical Response Report.
About Fiddler Labs
Founded in October 2018, Fiddler's
mission is to enable businesses of all sizes to unlock the AI
blackbox and deliver trustworthy AI experiences to end-users.
Fiddler's next-generation Explainable AI Platform enables data
science, product, and business users to explain, monitor, and
analyze their AI solutions, providing transparent and reliable
experiences to customers. Fiddler works with pioneering Fortune 500
companies as well as emerging tech companies. For more information
please visit www.fiddler.ai or follow us on Twitter
@fiddlerlabs.
Media Contact
media@fiddler.ai
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SOURCE Fiddler Labs