Published On: November 18th, 2020
Renowned Artificial Intelligence Startups
Artificial intelligence somehow is changing the face of technology. People have started using AI technology without even noticing sometimes. As time will pass on, it will take over more and more to benefit (hopefully) the life of many. Today we have come up with a list of 5 Renowned Successful Artificial Intelligence Startups that raised the bar of the term technology to another level.
This company has artificial Intelligence applications in writing assistance that helps writers in spelling, grammar, and other communication work. It even scans content for plagiarism and works for various platforms Gmail, Microsoft, Jira, Medium, etc. This company is located in San Francisco. This company has got a pleasant future in writing skills and productivity.
This artificial intelligence start-up is situated in Boston. It makes deep learning neural network software and also makes different devices like Cameras, phones, and smart drones. Companies like NASA, Huawei, DARPA, and Motorola are using technologies developed by Neurala.
This is a biotechnology-based company, located in San Francisco. Innovative cancer screening and diagnostic tests are the services provided by the company. They also recognize disease-associated patterns.
This artificial intelligence start-up was started by the team of Sriram Sankar, Venkat BN, and Sidharth Sivasubramanian and is based in Chennai, India. It was founded in May 2020. This company delivers a vision based video analytics solution and provides different products like crowd safety intelligence, retail video analytics system, and automated queue management system. It uses technologies like computer vision, edge processing detection, and tracking algorithms.
This is a Mumbai based startup and has been founded in 2019. It was started by Jatin Solanki and Vivek Gupta and involves a team of 60 employees. It has raised funding from Sense Venture, Iceland Venture, Lets Venture, and Samyakth Capital. The start-up was created to cater to college students in cracking interviews. They use AI-based video bots to mentor for interview based queries. They suggest to candidates which expert is suitable for them based on hometown, degree, dream company, preferred role, etc.
Evolution of Artificial Intelligence
Image Source:- Aithority
In 1950, the concept of Artificial intelligence had been introduced to the world by scientists and engineers. Lots of mathematicians, scientists, and philosophers started working on this concept. In 1974, computers started to flourish. John Hopfield and David Rumelhart initiated the topic of deep learning in 1980.
The two major countries involved in research in the field of artificial intelligence applications are China and the USA. In 2010, ILSVRC found algorithms for object detection and image classification, and Apple company acquired Siri- virtual assistant program. In 2013, NEIL (Never Ending Image Learner), a computer program was developed to find out information about images on the internet.
Ian Goodfellow created the tool GAN to give the machine the power of imagination and creation in 2014. Amazon virtual assistant Alexa was also developed in the year 2014. It can do voice interaction, music playing, recite audiobooks, and provide information on weather, traffic, and sports. The prototype of the autopilot car was manufactured in 2014.
Google created the Tensorflow model and a Hong Kong-based company Hanson robotics designed the robot Sophia in 2016. In 2018, AlphaFold was used as a scientific discovery to predict protein structure. In 2019, One of the artificial intelligence development was in predicting lung cancer and it is still considered better than doctors.
How Artificial Intelligence Makes our Life Relaxed?
Artificial intelligent devices are making our daily life easier in many ways. It can produce amazing photos and making voice recognition technology more intuitive. Few more examples of Artificial intelligence examples are Google Assistant and Amazon Alexa. Customer support is better with Artificial intelligence technology. Cleaning house using robots is another example of artificial intelligence.
Chatbots are used in day to day work automation to gather information and real-time human conversation. Many unsafe jobs, for example, the welding process in manufacturing industries is now carried out using robots.
Cognitive systems also emerged for people with sight impairments to describe images. It is helping in automating home experiences like lighting, temperature, and coffee machine regulation automatically. Cutting edge home security is also possible using artificial intelligence. There is considerable artificial intelligence future in the entertainment industry like Netflix, Google Play, and Amazon Prime.
Impact of AI Applications on the Economy
By 2030, there will be an increment of 16 percent or $ 13 trillion[efn_note] Notes from the AI frontier: Modeling the impact of AI on the world economy [/efn_note] to the global economy. There is another Artificial intelligence meaning; it will follow the S curve pattern. There will be a slow start in the early stages, then acceleration during the matured phase, and then slowing down during the late stages.
Best positioned countries are the USA and China in this technology. Other developed economies like Germany, Japan, and Canada are well-positioned to capture the benefits of artificial intelligence’s future. Countries like India, Italy, and Malaysia may follow the other leaders and slowly build Artificial intelligent capabilities. There will be a shift to demand for skills and the adoption of new ways of working in the artificial intelligence future.
The impact of Artificial Intelligence meaning will be on the nation, sector, companies, and employees. Productivity, innovation, competitiveness, and job creation are going to be pivotal factors for the 21st century. Artificial intelligence and Machine learning are going to be dominant drivers for businesses, organizations, and Government sectors in the future.
Technology, economy, and military dominance are going to be enormously dependent on new artificial intelligence start-ups. The latest global economies will flow in the direction of Artificial intelligence, Machine learning, Neural Network, and Deep Learning technologies.
Examples and Applications of AI
Image Source:- Towardsai.net
Artificial Intelligence performs human-like tasks and it makes machines learn from experiences. That means Artificial intelligence depends mostly on deep learning and natural language processing. Technologies related to artificial intelligence make computers do specific tasks by processing a large amount of data. They also recognize patterns in different data and help in the automation of repetitive learning and discovery through data.
There are many artificial intelligence examples consisting of automation, smart machines, bots, and different conversational platform. There is a substantial progressive learning algorithm in artificial intelligence applications. These algorithms are responsible for many things like playing chess or suggesting an online product to the customers. Using a neural network, artificial intelligence start-ups analyze different deeper data.
The more data one feeds into the system, the more it becomes accurate. The accuracy level of artificial intelligence applications is incredible. Alexa, Google, and Google search are some of the great examples of artificial intelligence. Even using different techniques like image classification, object recognition, and deep learning of artificial intelligence, finding cancer through MRI by radiologists is possible now.
There are two types of Artificial intelligence: narrow artificial intelligence and general artificial intelligence. Examples of narrow artificial intelligence are responding to customer’s service queries, booking a hotel, helping radiologists to find tumours, etc. Examples of general artificial intelligence are hair cutting, building spreadsheets, etc.
There are many more artificial intelligence start-ups like Soundhound, Vicarious, Zebra Medical Vision, Innefu, Intello labs, etc.
Artificial intelligence applications are becoming commonplace in every aspect of life. Large investments are happening in the fields of artificial intelligence as it has lots of computing power and calibre to tackle huge amounts of data. Each of the crucial technology firms is trying to develop robust machine learning technology.
Companies understand that the succeeding years of the world largely depend upon artificial intelligence’s future.
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