“AI 50: America’s Most Promising Artificial Intelligence Companies”
The pervasive influence of artificial intelligence (AI) reaches across industries from HR, security, financial services, and insurance to healthcare, transportation, and infrastructure. However, while AI is driving significant transformation, it also comes with plenty of hype — some of which is validated and some that are well, just hype. To vet out the companies that are rising above the noise and delivering exceptional AI, Forbes and data partner Meritech Capital put together a list of private, U.S.-based companies that are demonstrating “real business potential.” Companies were assessed on techniques (e.g., machine learning), natural language and computer vision as part of their business model.
50 companies are listed in order of the highest valuation information. Each company description includes a focus on the problem the company is trying to solve (rather than the tool solving it). The top companies include (1) Nuro; (2) Aurora Innovation; (3) Uptake; (4) Lemonade; and (5) Dataminr.
Here are six themes that are illustrated through various use cases:
- Autonomous Driving – Automakers and developers are scrambling to participate in an increasingly crowded space. The two highest valuation companies on the list have developed AI components around driverless delivery and self-driving capabilities with integrated system improvements being sold to top car manufacturers. In other startups’ business models, autonomous shuttles and cargo truck services are being powered through software.
- Human Resources – Whether Millennial consumers are looking to be matched to an insurance plan or a job, AI connects both opportunities and plans to individuals with a mix of data labeling and public information gathering. This is just one example of AI simplifying office services; however, the concept is similar across the application as AI matches data with perceived risks and opportunities from jobs to financial loans.
- Healthcare Diagnostics – Expedited, accurate analyses are changing diagnostics with images of cells. Doctors and healthcare professionals now have more personalized advice for patients, based on subtle patterns in anonymized medical records and datasets.
- Help Desk and Concierge Service – Whether acting as an on-demand concierge service or processing the flow of IT desk requests, AI brings nuance and sophistication to speech recognition. Examples of help desk tasks include weather forecasting, virtual assistants, transcription service, and more.
- Security – Tailored alerts through companies like Dataminr and Anduril Industries can tip-off to potential security risks or crises. Data collected can also be used to enable threat detection, assess risk and connect existing data and tools to the platform. These data alerts apply to credit processing, database curation, and more.
- Robotics – Robots are ready for “primetime deployment.” From closed systems with robotic arms that complete tasks in “micro-factories” to giant robots that glide around select Walmart locations, addressing gaps in pricing, shelving, cleaning and everything in between. Retail and manufacturing spaces are just the tip of the iceberg for a more advanced, pervasive robotic presence.
AI that is making an impact now and in the future is solving real-world problems — empowering consumers and companies with organized, integrated and applicable data and solutions. It has undoubtedly redirected the future for every industry and presents an opportunity for transformation that is certain to accelerate the potential and reach of new ideas.
