Startups Blog

How are AI Startups Changing the World?

Artificial intelligence, or AI, is growing steadily across corporate spheres. AI is helping us to automate tasks and to cut costs. AI Startups across the US are already helping to apply AI and machine learning to everyday productivity. Let's examine the how and why.

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AI: The Bigger Picture

We need first to appreciate just how big artificial intelligence is in the here and now. The global market for AI at the time of writing is worth more than $327 billion. The US is the primary investor in terms of private AI globally. What's more, artificial intelligence is mainly being used to help delegate quality assurance in production and technological security.

There is little wonder why AI is continuing to grow. It is already present in many homes and on our smartphones. Crucially, firms see AI and machine learning as pathways towards cutting human error and streamlining costs. Therefore, it's abundantly clear why so many ventures are getting into the game.

How Startups are Making the Most of AI

AI is a common commodity across major firms and larger tech players. Google and Apple, for example, are early adopters. Home devices such as those in the Amazon Alexa line are even common across our homes. So - what are new ventures and innovators actively doing with machine intelligence to push the envelope further?

Driverless car technology is a leading staple of AI innovation in the here and now. Argo AI, a Pittsburgh-based firm, is a treble unicorn in the field. With interest from major motoring players such as Ford and VW Group, they're developing frontline self-driving tech.

Stripe, meanwhile, is a name in AI small business owners will recognize. A double unicorn, the SF firm offers automated billing and payment processing the world over. Their AI standards operate via e-commerce and have firm backing from big banks such as Barclays.

SambaNova, meanwhile, focuses on bringing machine learning to corporate entities and customers. With interest from GV and Redline Capital, the company's hardware has earned the brand unicorn status. This impressive growth turns around after just four years since its inception.

A major way in which AI is helping companies and workplaces is through risk assessment. Not only can machine learning reduce human error in sensitive applications, but it can also help us mitigate risk too. Dataminr is a New York venture specializing in software that uses AI to learn risk profiles and adapt them. Their projects deploy across finance, federal, and B2C companies.

AI is The Future

Artificial intelligence is no longer science fiction. As customer demands increase, our individual physical capacities to support them stretch out. AI is incredibly useful for delegating tasks and analyzing how we can all do better.

AI startups are among some of the most-funded on the planet, with several US unicorns taking big strides. What's more, they're receiving backing from some of the biggest household names around. Could the next big innovation in AI be lying in wait via Fundz?

 

SOURCES

https://tracxn.com/explore/Artificial-Intelligence-Startups-in-United-States

https://builtin.com/artificial-intelligence/ai-companies-roundup

https://www.ai-startups.org/country/USA/

https://www.statista.com/topics/3104/artificial-intelligence-ai-worldwide/

https://www.semrush.com/blog/artificial-intelligence-stats/

https://www.cbinsights.com/research/artificial-intelligence-startup-us-map/

https://www.dataminr.com

 

Topic: Startups