PITTSBURGH, June 21, 2018 (GLOBE NEWSWIRE) -- Petuum, Inc. , an artificial intelligence (AI) infrastructure platform, has been selected among hundreds of candidates as one of the World Economic Forum’s 2018 Technology Pioneers. By providing standardized machine learning building blocks and a software workbench to assemble them into AI applications, Petuum empowers enterprises of all sizes with the tools needed to create, customize and sustain AI solutions on their own.
The World Economic Forum’s Technology Pioneers community consists of early-stage companies from around the world that are involved in the design, development and deployment of new technologies and innovations, and are poised to have a significant impact on business and society.
“We welcome Petuum into this diverse group of technology pioneers,” said Fulvia Montresor, Head of Technology Pioneers at the World Economic Forum. “Petuum and its fellow pioneers are shaping the ongoing Fourth Industrial Revolution and we believe they will be transforming society and industry in a positive way in the years to come.”
“We’re honored to be recognized as a Technology Pioneer by the World Economic Forum,” said Dr. Eric Xing, Founder, CEO and Chief Scientist at Petuum. “Artificial intelligence will be a transformative force for industry; however, its application and deployment are currently beyond the reach of all but the biggest technological companies. Our mission at Petuum is to industrialize AI technology, transforming enterprises of all sizes and in all industries – turning them into actual owners, builders, and informed users of AI, letting them easily understand and leverage AI to power up and upgrade their business.”
The Technology Pioneers were selected by a selection committee of more than 60 academics, entrepreneurs, venture capitalists and corporate executives. The committee based its decisions on criteria including innovation, potential impact and leadership. Past recipients include Airbnb, Google, Kickstarter, Mozilla, Palantir Technologies, Spotify, TransferWise, Twitter and Wikimedia. More information on this year’s Technology Pioneers can be found here: http://wef.ch/techpioneers18 .
About Petuum Petuum is a software infrastructure and ecosystem provider that enables AI for enterprise. Petuum industrializes AI, turning it from black-box artisanship into a highly-structured process. The company provides a development platform and gallery of AI building blocks that allow enterprise users to easily obtain or self-service their AI needs, starting either from reference designs provided by Petuum or building new solutions from the ground up.
Petuum’s development platform builds any machine learning or deep learning application using small or big data of any type, and deploys at scale on any commodity hardware, from data centers to the Internet of Things. By standardizing AI solutions, Petuum lowers the barrier to AI adoption and enables enterprises in every industry to become AI owners and builders. Petuum most recently closed a $93 million Series B round led by SoftBank with participation from previous investor Advantech Capital, making it one of the most well-funded early-stage AI startups.
About World Economic Forum The World Economic Forum, committed to improving the state of the world, is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business and other leaders of society to shape global, regional and industry agendas. ( www.weforum.org ).
Contact Hannah Sills petuum@bulleitgroup.com
