Subject: LIC
Fiddler and Lockheed Martin Ventures Collaborate to Accelerate AI Explainability and Monitoring
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.
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