Advances in artificial intelligence technologies show that AI systems are more advanced and sophisticated than ever before. What’s more, it’s finally certain that they’re here to stay.
The size of the global artificial intelligence market is expected to grow significantly. In 2022, the estimated size of the global AI market was $136.55 billion; and until 2030 it is projected to grow at a compound annual rate of 37.3%.
In the upcoming months, you can expect to see plenty of innovative solutions in fields such as:
With predictions like these, now would be the time to consider incorporating AI solutions into your business. But before you do so, you should be aware of the following:
Let’s take a look at some of the most acclaimed AI startups to follow this year.
Image via OpenAI
OpenAI is an artificial intelligence research lab. It’s one of those artificial intelligence startups that claims to have a noble, if frivolously distant, goal – to eventually arrive at an all-powerful general artificial intelligence that could help solve humanity’s most pressing problems.
OpenAI’s research areas include machine learning, natural language processing, and robotics.
OpenAI is behind multiple high-profile projects, such as:
Recently, software giant Microsoft announced its intention to invest about $10 billion in OpenAI. This decision comes after their previous investments in 2019 and 2021. It’s a move that gives Microsoft access to top-of-the-market artificial intelligence systems, which they have already successfully employed within their new Bing Chat feature, currently in beta.
The mainstream success of OpenAI clearly shows that the AI industry is booming, and it may be a good time to consider integrating AI solutions into your business. But first, carefully consider which strategic pain points can be addressed with AI. Keep in mind that AI is not a universal problem solver or task performer. CEO, ASPER BROTHERS Let's Talk
Image via Moveworks
Workplaces are becoming increasingly employee-centric, and Moveworks is one of the AI companies trying to address this phenomenon.
Moveworks provides a conversational AI chatbot that uses deep learning algorithms, natural language processing, and probabilistic machine learning to deliver an end-to-end support solution through chat conversations.
Employees can use it to get IT support, HR and financial help, and any other kind of support they need in real-time at the workplace. It reduces the strain on HR staff and IT professionals, who are usually the most involved with employee needs.
The AI chatbot is multilingual and uses a knowledge base to personalize the answers to employees’ questions.
Moveworks was identified as a leading provider of chatbots for IT operations in The Forrester Wave: Chatbots for IT Operations (Q4 2022).
Image via Abnormal Security
Many AI startups are after creating email security solutions for enterprises, but few offer the kind of sophisticated service that Abnormal Security does.
This AI platform uses Abnormal Behavior Technology (ABX) to predict and detect suspicious emails. The goal of ABX is to protect organizations from targeted email attacks ranging from account takeovers to trade secret leaks.
By learning the behavior of every email sender and assessing every email sent inside and outside the organization, Abnormal Security creates a risk-aware detection model for the enterprise.
Abnormal Security was named a representative vendor in the 2023 Gartner Market Guide for Email Security, validating Abnormal security’s innovative capabilities.
Image via SoundHound
SoundHound, an innovative solution in voice artificial intelligence, is surely one of the startups to follow in 2023.
The platform uses its proprietary voice AI technology to give brands a voice. Through voice-enabled services, products and apps, brands are able to deliver personalized, conversational experiences to their customers.
SoundHound uses advanced conversational intelligence that understands the complexity of speech and is able to interpret meaning the way the human brain does, resulting in lifelike conversations.
SoundHound also offers SoundHound Music, an app that uses music recognition technology to identify the music playing around you, in addition to searching and playing music.
There’s also the Hound Voice Assistant, which the company says is the “fastest, smartest voice assistant” on the market.
Thanks to its industry-defining innovations, the company reported 84% year-over-year revenue growth in 2022 and expects to grow 50% more in 2023.
Image via CrowdAI
Everyone can benefit from the power of AI, but not everyone has the technical know-how to program it. CrowdAI is one of the few artificial intelligence startups that offers a solution to this dilemma.
It’s an intuitive computer vision AI platform that allows users to develop high-quality custom machine learning models without programming knowledge. The models can analyze images and videos to create structured data and derive relevant insights.
It helps organizations discover the value in their data and use it to make operational decisions.
Users get the infrastructure for a full AI lifecycle. They can label data, train and scale their models, and continuously drive real-time decisions.
In 2022, the artificial intelligence startup reached a major milestone. It was selected by the U.S. Department of Defense’s (DoD) Joint Artificial Intelligence Center (JAIC) to help create an infrastructure that would enable the rapid adoption of data-centric AI across the U.S. government.
Image via People.ai
People.ai is one of the best AI solutions to help companies accelerate growth and revenue by selecting the right leads for the best results.
It’s an AI-powered enterprise revenue intelligence platform that takes data and turns it into real intelligence.
It uses AI technology to document customer contacts, activities, and engagement. People.ai then transforms this information, along with other business activity data, into actionable insights that help marketing and sales teams make decisions with real-time advice.
It’s a powerful AI-powered tool that companies can use alongside effective lead generation software.
People.ai was named a significant revenue operations and intelligence provider by The Forrester Wave (Q1 2022).
People.ai was also listed as a representative vendor in the 2023 Gartner Market Guide for Revenue Intelligence Platforms.
Image via Riskified
Riskified is one of the most trusted artificial intelligence startups to help e-commerce businesses manage fraud.
The platform uses billions of past transactions to power machine learning models that help businesses identify legitimate buyers and create a frictionless checkout process.
This way, shoppers get an optimal user experience, and businesses are able to prevent fraud and maximize their net revenue.
Merchants benefit not only from data from their own databases, but also from all other merchants using Riskified. This connectivity is designed to create accurate decision engines.
And with data from millions of shoppers in over 180 countries flowing through the platform every day, Riskified is getting smarter all the time.
This AI-powered platform is scalable and adapts to the ever-changing needs of an ecommerce business.
Riskified is on a growth trajectory. It has been identified as a major player in the financial fraud detection system market.
Image via DataRobot
DataRobot is one of the undisputed leaders in the AI startup market.
It helps organizations find the most accurate predictive models for their data to solve any challenge.
By leveraging AI, organizations can gain powerful data analytics with actionable insights that can help with issues such as controlling business expenses. They can use predictive models to make better decisions that can help them stay relevant in today’s highly competitive environment.
This AI company can benefit companies in industries such as healthcare, insurance, fintech, or sports analytics.
DataRobot’s top-of-the-market AI machine learning platform has helped attract clients for businesses such as The Metropolitan Museum of Art, DHL, LendingTree, Lenovo, and Mars.
Most recently, DataRobot signed a multi-year agreement with Weatherford International to provide advanced AI technology for the company’s digital platforms.
DataRobot takes pride in powering:
The company was listed as number 26 in the seventh annual Cloud 100 list of top private cloud companies in the world.
Image via Osaro
A list of AI startups wouldn’t be complete without the mention of actual robots.
Osaro is an artificial intelligence startup serving industrial ecommerce and fulfillment.
Its platform provides powerful robotics solutions for companies with industrial production lines. It helps companies build smarter supply chains.
The solutions include adaptive perception and decision-making capabilities. These intelligent robots can interact with objects by seeing and manipulating them in a warehouse.
Osaro’s AI-powered software uses high-dimensional and time-varying data in its machine learning technology. The result is machines that can intelligently perform day-to-day warehouse tasks, freeing up time for humans to focus on higher-level tasks.
Osaro is already used by plenty of businesses, including grocery stores and distribution centers. It has served companies like DHL, Zenni Optical, KANOIKE TRANSPORT, and more.
Image via Netra
Netra is an artificial intelligence startup focused on analyzing video content.
It uses AI technology to provide visual intelligence and understanding at scale for stored video, image-based data, and livestreamed content.
Using AI and machine learning, Netra identifies specific themes within video content, such as activities, locations, and objects, and provides customers with a complete narrative. It also provides on-the-fly input to facilitate analysis of live streams.
This service is valuable to CTV providers, data and artificial intelligence platforms, and media owners. This comprehensive video analytics platform based on AI technology is also useful in surveillance systems.
There you have it – 10 AI startups that are taking the AI industry by storm with machine-learning technology.
From robotics, email security, speech and voice recognition, employee management, video analytics, and natural language processing, these AI startups are providing innovative and valuable solutions for businesses and individuals.
AI-powered applications are now being used in self-driving cars, healthcare systems, cloud computing, in-call coaching, deep research data analysis, artificial intelligence stocks, customer support, and fraud prevention.
While machine learning provides business owners with unparalleled access to cheap, efficient, and accurate micro-level data to help estimate risk and potentially increase profits, we are still a long way from automated strategic decision-making systems.
It is critical to set reasonable expectations and evaluate potential outcomes before integrating AI solutions into your organization. Therefore, you should analyze specific AI use cases that align with your organization’s overall feasibility and return on investment. Evaluate whether AI can increase the revenue, productivity, and efficiency of your business; whether it can help deliver a superior customer experience or minimize costs.
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