Artificial Intelligence (AI) is becoming a normal part of business, and it is expected that up to 70% of companies are going to be using some type of AI by 2030. Machine Learning startups are a part of the AI industry. They are innovative companies that use data to teach machines how to perform tasks accurately without human involvement.
Machine learning startups are changing the way all industries do business, from agriculture to healthcare. They are, therefore, fabulous companies to invest in. Read on for some of the most innovative machine learning startups that you need to watch out for in 2020.
DataRobot is a company that makes predictive analytics easier so that less technically skilled employees can perform such tasks easily and quickly. Data scientists are in short supply, so many companies are struggling to fill these technological roles. DataRobot helps address this skill gap by making it easy for anyone with basic technology skills to build models to analyze data. All they need to do is input datasets into DataRobot which then automatically implements various models for data analysis.
Graphcore is a UK based company that works to improve the performance of AI through their Intelligence Processing Unit and Poplar Software. The company is valued at 1.7 billion dollars and has major companies such as Microsoft and BMW as investors. Graphcore’s technology has been reducing the cost of AI as well as improving its performance.
Onfido helps to hasten the process of identity verification for institutions such as banks. It was started in 2010 by three former students from Oxford University. Machine learning has enabled the company to create software that matches the facial features of applicants with those provided on their identity documents. Within minutes Onfido can determine whether the provided documentation is authentic and if it matches the applicant present. This drastically reduces the onboarding time for new clients or employees as the verification takes minutes as opposed to days.
4. Hunters. AI
This is an Israeli company that started in 2018 and works to eliminate cybersecurity threats from the world. Once installed in a company’s IT infrastructure, it works constantly, identifying threats and security breaches as soon as they occur. The system then classifies each threat according to their seriousness and provides a report detailing the location, timeline and recommended actions to prevent future threats.
Autonomous vehicles (AV’s)are taking the world by storm, but they are yet to become mainstream. One company that is working at bringing more AV’s to our roads is Pony.ai. The company has offices in Shanghai and Silicon Valley and has already made major milestones. It completed its first AV demo in 2017 and made AV’s publicly available in China since 2018. They are currently working on autonomous delivery trucks which could change the trucking industry.
These are only five examples of innovative machine learning startups that are changing the world. For more information on startups such as the top tech startups in phoenix or top healthcare startups in San Francisco, read the rest of our blog.