In the rapidly evolving landscape of technology, Artificial Intelligence (AI) has emerged as a game-changer. One of the most promising applications of AI is in IT operations, where it is known as AIOps, or ‘Artificial Intelligence in Operations.’ This process uses AI to automate various IT tasks, making it easier for organizations to manage their infrastructure and improve efficiency.
Despite its potential, adoption of AIOps has been slow. According to a recent survey by IDC, almost half of companies have just started exploring AIOps, while a third are working towards implementing an AIOps roadmap but still have significant work ahead of them.
Founders’ Vision
Kannan Kothandaraman and Nitin Kumar, two experienced executives from Juniper Networks, recognized the potential of AI in IT operations. In 2019, they founded Selector, a company that uses data and AI to identify IT problems and suggest solutions. Their initial idea for Selector was inspired by their work with a major hyperscaler, which had successfully integrated machine learning and AI into its network operations.
"We were impressed by how this company was using data to optimize its network operations," Kothandaraman told TechCrunch. "We realized that there must be many other companies struggling with similar challenges."
Kothandaraman and Kumar assembled a team and launched Selector, whose platform monitors corporate infrastructure and prescribes actions after an IT incident occurs.
AI-Powered Chat Interface
Selector’s platform features an AI-powered chat interface, allowing users to ask questions about problems and receive natural language responses. For example, if a user asks "Where did this outage occur?", the platform will provide a clear answer.
"We’re simplifying the complex," Kothandaraman said. "There’s an explosion of data that teams are struggling to deal with in enterprises. We’re providing the insights they need to do their work."
Growing Competition
Selector is not alone in the AIOps market. Other companies, such as Keep and Senser, are also working to help operations teams reduce alert fatigue. Big Panda, one of the larger AIOps players, has raised hundreds of millions of dollars in venture capital, while incumbents like New Relic and ServiceNow offer their own AIOps solutions.
Market Growth
Despite the competition, the AIOps market is growing rapidly. According to estimates, it will reach $213.66 billion by 2033, up from $25.24 billion in 2023.
Selector has around 40 customers, including AT&T, Bell Canada, and Singtel. The company recently closed a $33 million Series B round led by Ansa, bringing its total raised to $66 million. Kothandaraman said that the investment will be used to expand the company’s footprint with new offices and staff across the U.S., Canada, Europe, Singapore, India, and Japan.
Expanding Footprint
Selector plans to grow its workforce from 115 people to 150 next year. The Series B proceeds will also be put towards expanding the company’s presence in various regions, including the U.S., Canada, Europe, Singapore, India, and Japan.
"We’re seeing increased demand from other companies," Kothandaraman said. "It’s the right time to invest in expanding our footprint and awareness."
Conclusion
AIOps has the potential to revolutionize IT operations by automating various tasks and improving efficiency. While adoption has been slow so far, companies like Selector are working towards making AIOps a reality. As the market grows, we can expect to see more innovation and investment in this space.
Will AIOps be the future of IT operations? Share your thoughts in the comments below!
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