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AI Startup Ideas for 2023 and Up – 14 AI Business Ideas to Consider
Until recently, the development of AI was of interest mostly to computer scientists and tech geeks. However, ChatGPT’s recent release to the public has turned AI into a mainstream issue in a matter of months
Artificial intelligence has already started to make a significant mark on the industry. Companies in multiple sectors have managed to successfully utilize AI technology in their operations, and it is becoming increasingly clear that humanity is on the brink of another industrial revolution.
Considering how fast this technology is evolving, it’s estimated that in the upcoming years many professions might become obsolete, giving way to a set of entirely new ones.
In this article:
- Should you be launching your AI startup idea right now?
- Current state of the AI market
- 14 AI startup ideas for 2023 and up
- AI energy efficiency optimization solution
- AI-based search engine for audio content
- AI-driven cybersecurity
- AI architectural design
- AI marketing tools
- AI workflow automation
- AI content creation
- AI eLearning platform
- AI-based retail assistance
- AI in entertainment
- AI recruitment automation
- AI logistics and supply chain management
- AI healthcare tool
- AI wealth management app
Should you be launching your AI startup idea right now?
Because AI technology is just emerging, its potential is still largely untapped. For entrepreneurs, this might be an opportunity that happens only a few times in their lifetimes. It’s impossible to say exactly what’s possible with AI, but the potential of being the pioneer of change is, to many, alluring.
There is plenty of room for entirely new technologies, business models, and revenue streams. The demand for AI solutions is growing rapidly across many industries, where companies are itching to leverage this technology to streamline their operations and gain an edge over their competitors.
All you need is one good idea.
Current state of the AI market
The AI market is currently experiencing rapid growth, estimated to reach as much as $733.7 billion by 2027.
The opportunities for entering this market will continue to grow, along with the availability of AI development software and platforms which significantly lower the point of entry.
It’s important to recognize, however, that the AI market is becoming increasingly competitive. Multiple tech giants and experienced entrepreneurs are frantically fighting for their share of the cake.
This is why, if you are looking to establish yourself on the AI market, your startup must significantly distinguish itself by offering unique value.
We strongly believe that building a startup with a unique AI proposition has the potential to generate considerable long-term profits. It might be a good idea to hurry, though, as competition within the AI market is expected to grow exponentially. COO, ASPER BROTHERS Let's Talk
14 AI startup ideas for 2023 and up
From healthcare to e-commerce, AI is poised to transform the way people live, work, and interact with technology.
Below, we’ll explore ideas for AI startups in 14 different areas, highlighting the possible applications of AI and their potential to transform the market in the long term.
To better illustrate the current state of play, we’ll also provide you with examples of startups that already operate within each of the fields. For more promising startups see our list of 10 AI startups that we think will disrupt the industry in 2023.
#1 AI energy efficiency optimization solution
- Possible application: Improving energy efficiency and reducing man-made emissions.
- Long-term potential: By analyzing data from existing sensors, AI can identify complex patterns and make long-term predictions. This holds the promise of optimizing not only the use of energy, but also its distribution, resulting in reduced waste and improved reliability.
- Existing example: Carbon Lighthouse, which uses AI to reduce energy usage in commercial buildings.
#2 AI-based search engine for audio content
- Possible application: Improving indexability of audio content.
- Long-term potential: The developments in audio interpretation models continue to improve AI’s ability to transcribe, analyze and identify patterns within audio content. This can have multiple applications: making big audio databases searchable or efficiently creating accurate and nuanced recommendations for related content.
- Existing example: Audioburst, which uses AI to transcribe audio content and create short audio clips for easy sharing.
#3 AI-driven cybersecurity
- Potential issue: Enhancing cybersecurity and reducing cyber threats.
- Long-term potential: Not unlike in “Minority Report”, AI could be helpful with identifying potential threats and alerting security teams early. It could also contribute to automating certain tasks, such as threat detection and incident response.
- Existing example: Darktrace, which uses AI to detect and respond to cyber threats in real-time.
#4 AI architectural design
- Possible application: Cutting down on time and cost of architectural design.
- Long-term potential: AI can help architects and designers finish their projects quickly and efficiently, reducing the time and cost at multiple stages of the design process. It could also help with identifying potential design issues and human errors, reducing the risk of costly construction mistakes or even injury.
- Existing example: Morpholio, which uses AI to generate design recommendations for architects and designers.
#5 AI marketing tools
- Possible application: Improving the targeting and effectiveness of marketing campaigns.
- Long-term potential: AI can help marketers identify customer behavior patterns and industry trends, allowing for crafting better targeted campaigns. AI could also help automate certain marketing processes, such as A/B testing and ad placement.
- Existing example: Persado, which uses AI to generate language and imagery for marketing campaigns.
#6 AI workflow automation
- Possible application: Streamlining business processes and reducing operational costs.
- Long-term potential: Beyond industry-specific solutions, AI could also help automate tasks and workflows in all office jobs, reducing the time and cost of business operations. It could also significantly assist at the management level by analyzing data to identify areas for process improvement and optimization and providing actionable insights.
- Existing example: Zapier, which uses AI to automate workflows between different software applications.
#7 AI content creation
- Possible application: Generating high-quality content at scale.
- Long-term potential: AI can generate content quickly and efficiently, reducing the time and cost of the process. No wonder, then, that the job of a copywriter is estimated to be among one of the most threatened by AI. AI can be used for writing blog and social media posts, ads, and headlines. It can also be used to analyze audience engagement in order to make recommendations for specific topics and formats.
- Existing example: CopyAI, which uses AI to generate high-quality written content or nichesss, a tool that helps users create content for their niche using AI.
#8 AI eLearning platform
- Possible application: Personalizing education and improving learning outcomes.
- Long-term potential: We’ve known that not all humans learn the same way for quite some time now and a one-size-fits-all approach to teaching offered by the conventional education system continues to bring undesirable results. By continually analyzing data on student behavior, AI has the potential to adjust teaching methods and personalize learning paths. It could also help teachers provide targeted support for students with learning and intellectual disabilities.
- Existing example: Smart Sparrow, an adaptive eLearning platform that uses AI to personalize learning experiences
#9 AI-based retail assistance
- Possible application: Improving customer experience and boosting sales.
- Long-term potential: By analyzing customer contacts, activities, and engagement, AI can help personalize customer experience. There’s great potential for making accurate product recommendations and smoothing out the entire shopping process.
- Existing example: Syte, which uses AI to power visual search and recommendation engines for retailers.
#10 AI in entertainment
- Possible application: Improving the creation and distribution of entertainment content.
- Long-term potential: Certain technical tasks in film production, such as editing or special effects, could be largely automated by AI. In the home entertainment segment, streaming platforms already employ AI in their recommendation algorithms, as analyzing audience behavior and preferences now constitutes a significant portion of the business.
- Existing example: Aiva, which uses AI to generate original music compositions and allows users to edit them using in-built tools.
#11 AI recruitment automation
- Possible application: Reducing the time and cost of recruitment.
- Long-term potential: AI can be useful to automating certain tasks in the recruitment process, such as resume screening and candidate matching. It can also help identify problematic biases in the recruitment process and suggest ways to address and prevent them.
- Existing example: HireVue, which uses AI to screen and interview candidates remotely.
#12 AI logistics and supply chain management
- Possible application: Improving supply chain efficiency and reducing waste.
- Long-term potential: AI can facilitate inventory management and optimize supply chain logistics by analyzing demand and supply patterns. It can help identify and quickly resolve delays in the supply chain, provide live information about shipments. and offer inventory-level tracking.
- Existing example: ClearMetal, which uses AI to provide predictive visibility and operational insights for supply chain logistics, recently acquired by project44.
#13 AI healthcare tool
- Possible application: Improving the accuracy of diagnosis leading to improved patient prognoses.
- Long-term potential: Because AI is so good with analyzing vast amounts of data, it can help identify patterns that human doctors might miss. Feeding AI models with medical data may lead to earlier patient diagnoses and more effective treatments. There’s also potential for AI-powered medical devices that can facilitate remote patient monitoring and alert doctors to potential health problems even before patients themselves become aware of them.
- Existing example: Babylon Health, an AI-powered chatbot that can diagnose medical conditions and recommend specific treatments, or SkinVision, an app that helps users detect skin cancer based on a photo of their skin.
#14 AI wealth management app
- Possible application: Leveraging the power of AI to optimize returns and minimize risks.
- Long-term potential: An AI wealth builder software could analyze investment data to make informed decisions towards maximizing profit, building wealth and achieving financial security. Using machine learning algorithms, such software could identify patterns and trends in the market and use those insights to make real-time investment recommendations. Based on the user’s financial goals, risk tolerance, and other preferences, it could also generate personalized investment portfolios, and continuously monitor and adjust them later.
- Existing example: Wealthfront, which tracks client spending and saving behaviors and provides personalized recommendations to help them achieve their financial goals.
AI’s potential to transform various global industries is immense, and the above examples highlight only a few of the many opportunities emerging on the AI market.
What you need to succeed in the crowded AI market is a unique and valuable proposition.
By leveraging the power of AI, startups can target crucial issues, streamline entire processes, and create new products and services. These can have significant impact not only on the state of the industry, but also on that of our world.
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