Algorithmia Teams Ramps Up ML Apps into Production

August 27 2020

Algorithmia Teams is a new version of its platform designed for small groups within organizations that want the performance of an enterprise-grade MLOps platform and the cost flexibility of a cloud-based service.

A recent study conducted by Algorithmia found that enterprise IT execs believe AI/ML initiatives are considerably more important now than they were prior to the pandemic and they plan to spend more on AI/ML projects going forward. Another study, published by Deloitte, found that early adopters are ramping up their AI investments, launching more initiatives and getting positive returns. This is likely due to the ability of AI and ML technologies to support remote workers, enhance customer experiences, and automate key processes.

But some companies have found themselves constrained in their AI/ML efforts by the tools they need to deploy and manage these applications as well as the cost of doing so. In particular, data science teams that want to get applications up-and-running quickly need an MLOps platform that allows them to work collaboratively and is flexible from a cost standpoint, as team budgets may be limited initially. And despite the startup nature of these teams, many are still part of enterprise organizations, which require that all projects adhere to strict governance and security standards.

Algorithmia is addressing these needs with Teams, a cloud-based solution that gives fast-moving data science groups in large and midsize businesses the collaboration tools and cost flexibility they require, while checking all the essential enterprise boxes. For example, all the components of AI/ML application development (algorithms, data, API keys, etc.) can be shared in Teams among members within a private workspace, enabling groups to work more quickly. Likewise, billing within Teams is managed by a team admin, so individual users no longer have to deal with this process. Teams also addresses enterprise requirements around security, governance, and scalability.

From a financial flexibility perspective, Teams provides a pay-as-you-go consumption-based model that limits teams’ short-term financial exposure while enabling them to scale their use of the platform as needed. Teams is available in two tiers: Basic and Professional. The Basic version is a pay by CPU/GPU consumption basis with no monthly fee. The Professional version costs $299/month plus pay as you go for CPU/GPU consumption, includes advanced support and a dedicated Slack channel, as well as the option to purchase a custom language pack or data connector development. Both versions of Teams include private, secure workspaces for team members to collaborate and connectors to popular external cloud data sources such as AWS, Azure and GCP. Users can sign-up and get started on their own, and Algorithmia will manage and maintain the infrastructure.

“ML is critical to our business, especially in the current climate, with its potential to deliver key insights about digital currencies and market behaviors,” said Jesse Proudman, Chief Executive Officer at Strix Leviathan. “We specialize in using algorithms in our systematic approach to long and short term investments in the digital asset markets. Our goal is to deliver long-term outperformance to our investors. Given this focus, we use Algorithmia Teams to deliver our ML models into production quicker and operate them more efficiently. We view it as a competitive advantage and Algorithmia helps us move with the required agility and speed that we need.”

“Teams Edition is perfect for high-performing teams that want to get ML-based applications up-and-running quickly, while maintaining the flexibility to use our platform more extensively if it suits their needs,” said Diego Oppenheimer, CEO of Algorithmia. “From a timing and value perspective, it’s the best of both worlds for companies that are serious about deploying ML applications.”

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