Artificial Intelligence is quickly catching the pace of other technologies in the business world. The harsh challenges the pandemic inflicted on the world has also brought opportunities for technological startups. In fact, it seems a perfect time to adapt to automated tools that can assist humans in business, health, manufacturing, and almost every other sector. Thus, machine learning startups are all the rage in today’s world.
IT experts have taken advantage of this opportunity which is evident by the explosion of machine learning startups. These startups provide efficient ways and tools to reduce risks, bolster management, automate transactions, conduct self-inspections, and so on. These activities have been proved beneficial for private businesses to government-level organizations.
Here is a list of the top 8 machine learning startups to look out for in 2021
Alation is a recognized platform dominant in the financial sector. The platform is boosted to perform data-related works like data search, governance, analytics, and discovery, and digital transformation. In particular, Alation is proficient in collaborating human perception with machine learning tools via open interfaces and Behavioral Analysis Engine. Therefore, reputed large-scale enterprises like American Family Insurance, Scandinavian Airlines, Pfizer, U.S. Foods, and so on have integrated Alation into their system.
2. Data visor
With the evolution of digital transactions, fraud has increased as well. DataVisor is one platform that stands out in spotting fraudulent activities. The platform uses Artificial Intelligence to detect fraud patterns and helps to halt them in time minimizing the losses in firms. Global companies that deal with financial services have their eyes on this cybersecurity company. Furthermore, it also covers reputational damages which is crucial for social media networks.
Food waste is being a serious problem in the food business. The food is converted to waste is a huge loss for the business owners. This company offers a platform for such a catering community. In particular, the platform is dedicated to enhancing the profit of café and bakery owners. The machine learning algorithms offered by this company analyze business data and predicts sales quantity and order requirement. Ultimately, low wastage is equal to more profit.
Exceed is a notable startup that empowers the sales and marketing operations of organizations. With the help of AI, the platform independently communicate with leads and engages the personnel required for a particular lead. The sales bot can follow up on leads upon sight and qualify them for sales representatives. This clearly cuts down the time and efforts expenses of the staffs have spent for non-potential customers. Moreover, the sales team can devote themselves to promising calls and demos with potential clients.
Considering the challenges of working out with trainers in real-time, Jaxjox is a platform to bring the gym home. The company embeds AI-powered trackers with their fitness products which will help in monitoring the performance while working out. This includes setting out timers, displaying pulse rate and heartbeat rate, and other physical stats. Besides, the registered users can work on their fitness goals through the live sessions and content from the fitness instructors from the comfort of their homes. Jaxjox comes to the rescue at times like the covid crisis. Plus, a Virtual fitness platform is helpful for people who can not spend time going to and working in gyms.
Augury is one noteworthy startup working in the manufacturing and industrial sector. The platform is specifically designed to supervise the health of the machines in industries. Especially, the ML algorithms combined with AI offer predictive maintenance and assets performance management. The system inspects the status of the machine at all times and warns upon successful identification of malfunctioned parts. One can also manually configure the maintenance durations and set warning parameters. A large number of HVAC systems and commercial production firms have already implemented Augury.
Boast provides a platform particularly for managing Research and Development costs. The startup has targeted to help companies in the USA and Canada at this time. The startup includes AI tools to aid engineers and accountants in the financial paperwork. The remarkable applications of the platform can be seen in programs like Scientific Research and Experimental Development and US R&D Tax Credits.
RideVision is another noteworthy startup founded by motorcyclists, Uri Lavi and Lior Cohen. The sole objective of this company is to lower the risks of injuries resulting from accidents. The system includes an app linked with front and rear cameras installed on the vehicle. These cameras capture and feed the data of the surroundings to the app with the help of AI tools, mainly image recognition. The app will then update the rider about the circumstances. The startup is indeed an innovation for the safety of the riders.
Overall, the machine-learning-based AI startups seem promising. According to Forbes, the machine learning startups increased by 8.2 % in 2021. CrunchBase has recorded 9977 ML startups as of January 2021. Startups have received funding from venture capital firms from all over the world. The growth of AI startups is unquestionably motivating for emerging entrepreneurs. The venture capital firms are actively funding the startups. The world is yet to see more innovative startups in the coming days.