Domino Data Lab Named a Leader in Two Independent AI-Focused Market Studies
Domino Data Lab, provider of an Enterprise AI platform trusted by over 20% of the Fortune 100, today announced it has been recognized as a leader and top performer by Dresner Advisory Services in its 2023 Wisdom of Crowds® market studies on both AI, Data Science and Machine Learning (AI/DS/ML) as well as ModelOps.
“We are seeing increased interest in AI, data science, and machine learning, and a growing reliance on AI and ML for recommendation engines, predictive analytics, data-driven decision making and more,” said Howard Dresner, founder and chief research officer at Dresner Advisory. “In addition, the strategic importance of ModelOps is becoming more and more apparent and we extend our congratulations to Domino for its excellent performance as an overall leader in both of these market studies.”
Excellence in Cutting-Edge AI, Data Science, and Machine Learning at Scale
Vendors were assessed for their functionality across several areas:
Analytical Features and Functions
Open Source Support
Domino received the highest average score across those metrics.
The new AI/DS/ML study reveals just how critical the current need for AI has become for businesses today across the globe and industries. It found that the importance of AI/DS/ML is at an all-time high; respondents universally agreed that AI was important and, for the first time, more than 90% said it was either very important or critically important to their industry.
By offering a peek into today’s adoption of large language models (LLMs) for cutting-edge use cases, the AI/DS/ML study shows that nearly a third (29%) of companies surveyed are experimenting with Generative AI or have it in production today, and adoption interest is highest amongst R&D and executive management functions. It also reveals that access to cutting-edge open-source technology is vital to companies’ AI, data science, and ML strategies, with over 85% of industry respondents rating tools from this vibrant community as critically important or very important.
Helping the Largest Enterprises Urgently Accelerate AI Innovation
In rating the vendors in the ModelOps study, Dresner considered features surrounding:
Domino emerged with the highest overall score.
This latest ModelOps study delivers insight into current trends on enterprise needs to accelerate AI innovation. Its findings suggest that organizations still need help operationalizing and maintaining their models in production, with fewer than 40% reporting that they refresh models daily or weekly and scantly more than one in four (26%) organizations managing to do so monthly. Dresner’s findings note that responsibly innovating is just as critical. Respondents chose model life-cycle management, model version control, monitoring, and alerting among the most important ModelOps features.
However, the survey indicates that companies still struggle to gain visibility into their AI model operations, with nearly half (46%) of respondents saying that they do not know how many models they have in production -- something that will be increasingly risky for companies given the coming onslaught of AI regulations globally.
“We are honored to be recognized as a market leader in Dresner's research on AI, data science, ML, and ModelOps,” said Chris Lauren, SVP of Product at Domino. “This acknowledgment emphasizes our commitment to enable our customers to achieve rapid business value through responsible AI-powered innovation leveraging the flexibility to choose state-of-the-art tools and infrastructure.”
Unleashing Enterprise AI at Scale, Responsibly, and Cost-Effectively
The Domino Enterprise AI Platform enables leading enterprises to build and operate AI at scale and accelerate time to value safely and responsibly while controlling costs. It orchestrates and manages the end-to-end machine learning lifecycle to provide the agility and flexibility that data scientists need with the control and governance that enterprises require. Teams harness the AI ecosystem with easy, open access to all data, tools, and infrastructure in one place. Enterprises get a system of record for all AI work – projects, assets, results, models, and best practices that tame the “wild west” of data science.
Download Dresner’s Wisdom of Markets® Study on AI, Data Science, and Machine Learning.
Download Dresner’s Wisdom of Markets® Study on ModelOps.
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About Domino Data Lab
Domino Data Lab powers model-driven businesses with its Enterprise AI platform trusted by over 20% of the Fortune 100. Domino accelerates the development and deployment of data science work while increasing collaboration and governance. With Domino, enterprises worldwide can develop better medicines, grow more productive crops, build better cars, and much more. Founded in 2013, Domino is backed by Coatue Management, Great Hill Partners, Highland Capital, Sequoia Capital, and other leading investors. For more information, visit www.domino.ai.