Organizations today are inundated with data, yet face challenges in effectively utilizing and analyzing it. By 2025, it's estimated that companies will store 100 zettabytes of data in the cloud, but currently, only 13% are successfully executing their analytics and data strategies, as per an MIT Technology Review Insights and Databricks survey. Devavrat Shah, founder of Celect and director of MIT’s statistics and data science center, believes that AI is the solution to harnessing complex data from numerous sources for forecasting and scenario-based planning. He emphasizes that the ultimate AI goal should be its integration into enterprises, where experts can collaborate seamlessly with AI to maximize its potential benefits.

‍

To achieve this vision of "empowering every enterprise with AI," Shah launched Ikigai Labs. This venture offers a no-code platform that uses proprietary graphical models tailored for tabular data, enabling businesses to develop and implement these models for various applications. Ikigai recently secured $25 million in Series A funding, bringing its total to $38.2 million. The platform stands out by providing building blocks for a wide range of use cases, aiming to help businesses harness the power of AI effectively.

‍