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The global artificial intelligence market is expected to grow by 46.2% from 2019 to 2025. That type of growth can’t be matched by almost any other industry in the world. Artificial intelligence solutions are particularly relevant for the IT, healthcare, automotive, and manufacturing sectors. However, practically all other businesses can find a use for this advanced technology in their day to day operations.
The main reasons AI is transforming the business world are that it reduces cost and time to carry out operations (compared to human labor), offers advanced data insights and analysis, reduces the risk of human error, and enhances customer satisfaction. AI systems don’t require break time, nor do they ever go on leave.
That being said, here are the three most exciting AI Startups of 2020.
The Aisera AI Service Desk and AI Customer Service software is designed to provide fast solutions, increase productivity, and improve overall customer satisfaction.
One of the main advantages of Aisera products is that they can be effortlessly integrated into the existing systems of any business. Whether you’re running a large or small company, Aisera will dramatically improve operations in your IT, HR, Sales, or other departments.
Aisera’s virtual agent also becomes smarter with time, as it has self-learning capabilities. As it self-learns, it becomes better at recognizing customer intent, managing vast knowledge databases of your business, and helping your employees deal with repetitive requests.
The problem-solving time for straightforward inquiries will be reduced to seconds. Your employees will have more time to deal with serious issues when they no longer have to worry about the same questions over and over again. The Aisera virtual agent also has the ability to predict and prevent major incidents and outages all on its own.
Aisera raised over $50 million in total funding during 2020 for the expansion and deployment of its AI platform. Aisera has already exhibited a YoY growth of 350 percent, with a rising number of enterprise customers.
Aurora utilizes AI in a self-driving platform. This revolutionary company seeks to make our roads safer, more efficient, and easier to navigate by introducing its product Aurora Driver. It is a self-driving technology that relies on state-of-the-art machine learning.
Aurora’s ambitions are high, and their development is still in the early stages. However, their platform will include localization, planning and control, simulation, perception, and infrastructure capabilities alongside hardware that gathers data and monitors vehicle movement. They have already received funding of almost $700 million for their groundbreaking projects.
In the biotechnology, medical industry, Tempus is the next big thing. Tempus uses AI to collect an extensive library of medical data (clinical and molecular) to enable physicians to make better care and treatment decisions in real-time. They are incorporating this data into an operating system that is easily accessible to all medical professionals.
Tempus’ ultimate goal is for patients to receive more effective personalized care. At the same time, the apparent advantage of AI data-driven medicine is that new therapeutic options will surface through accelerated research.
We foresee many other startups climbing up the business chain in 2021, as the need for artificial intelligence and innovation continues to grow.
Edited by Maria Korolov
Jennifer Vickery is president and CEO of National Strategies PR and has worked with hundreds of national clients. Her experience includes writing a regular column for a newspaper, producing a health television segment, serving as a radio personality for advocacy issues, and producing a weekly radio show.