H2O raises $72.5 million to simplify enterprise AI deployment

AI and machine learning can be complicated for a layperson to fully grasp, yet surveys show this hasn't deterred enterprises from adopting the technology in droves. Business use of AI grew a whopping 270% over the past four years, according to Gartner, while Deloitte says 62% of respondents to its corporate October 2018 report deployed some form of AI, up from 53% a year ago. But adoption doesn't always meet with success, as the roughly 25% of companies who've seen half of their AI projects fail will tell you. That's why managed machine learning solutions firms like H2O.ai are growing at a healthy clip. In perhaps another sign of the industry's upward momentum, H2O today announced that it has raised $72.5 million in a round led by Goldman Sachs and the Ping An Global Voyager fund, with continued investments from Wells Fargo and Nexus Venture Partners.