8 years ago, when I founded Iguazio together with my co-founders Yaron Haviv, Yaron Segev & Orit Nissan-Messing, I never thought I would be making this announcement on our company blog: McKinsey acquired Iguazio!
When we first embarked on this journey, we realized that while AI has the ability to transform any industry - from banking to retail to manufacturing - in reality most data science projects fail. In fact, according to McKinsey research, over $490B have been invested in AI between the years 2012-2021, with little return. Only one out of ten attempts to deploy AI in enterprise-level operations succeeds - 90% of AI projects never even make it out of the lab.
This gap between the great potential of AI and its actual business impact was our north star as we built and expanded the Iguazio MLOps Platform, adding features and functionality to automate, accelerate and simplify the data science process. We set on a mission to change this reality for enterprises, and I’m happy to say we’ve been fortunate enough to work with some incredible clients and see some great success stories with results such as a 12X acceleration of the data science process, 50% reduction in cost and 90% reduction in code.
Managing a startup is a roller coaster – The highest highs and the lowest lows. From tremendous technological achievements, incredible partnerships, industry alliances and events with standing-room-only - to a global pandemic, economic recession, and everything in between. It’s been a heck of a ride.
But I couldn’t have asked for a better team to have with me on this journey. I’m so proud of each and every one of the Iguazio team members for their commitment, dedication, talent and loyalty to making the company the best it can be. Catering to clients and partners with the utmost professionalism, looking out for each other, and always willing to extend a helping hand even beyond their official role.
Today, we embark on a new chapter for Iguazio, and the entire Iguazio team is joining McKinsey. This will mean access to a wider pool of clients than we could ever have dreamed of, more resources, integrations with the QuantumBlack stack and the partnership of the incredible McKinsey team, many of whom I’m already happy to call friends.
I wanted to thank our loyal clients, partners, investors, community members, followers and friends, and of course the Iguazio team, for your friendship and support throughout the years. We couldn’t have done it without all of you.
Read more about the acquisition here.