NEC Establishes a Startup in Silicon Valley for Automating Data Analytics
April 25 2018 - 10:00PM
Business Wire
NEC Corporation (NEC; TOKYO: 6701) today announced the
establishment of dotData, Inc., a new startup company based in
Cupertino, California, in the heart of Silicon Valley, that
develops and globally provides software that automates data science
processes using artificial intelligence (AI).
dotData will appoint Dr. Ryohei Fujimaki as CEO, who is a leader
in the development of Predictive Analysis Automation, a core AI
technology (*1), and one of the founders of dotData.
dotData will accelerate product development and go-to-market by
hiring top talent, strengthening products and technologies,
engaging with global partners, and acquiring external capital.
NEC will obtain an exclusive license from dotData to provide
this software across Japan and will start to provide the software
in the first half of FY2018.
“NEC is now accelerating the monetization of its competitive
technologies by creating diverse alliances as part of the
‘strengthening of business development capabilities’ in the
’restructuring of execution capabilities’ that are outlined in the
Mid-term Management Plan 2020 that NEC announced in January 2018,”
said Osamu Fujikawa, senior vice president, NEC Corporation. “The
establishment of dotData is the first implementation of such
reinforcements and a unique strategic carve-out scheme from NEC in
which a leader in core technology becomes a founder of the new
company and helps accelerate its monetization as a start-up
company. Going forward, NEC will continue to promote innovative
measures that strengthen our business development
capabilities.”
North America is a central market for data analytics, and as the
market continues to grow, a lack of data scientists and heavy
workloads are posing a greater challenge. This has been caused by a
tendency to rely heavily on the experience and inspiration of data
scientists during the data analysis process.
“The software being provided by dotData automates and simplifies
the process for end-to-end analysis, from data preparation to
feature engineering, to machine learning, production and
operations. This enables anyone to successfully carry out advanced
data analysis, even without a great deal of industry or data
science knowledge beforehand,” said Dr. Fujimaki. “Moreover, AI
automatically designs interpretable and transparent features that
reveal unknown and valuable insights that even human data
scientists have never imagined. The software enables data
scientists to leverage their ability to transform data insights to
business actions and to achieve higher return-on-investment than
ever before.”
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NEC CorporationJoseph Jasperj-jasper@ax.jp.nec.com