Ideas have the potential to transform our world. Everybody has at some point in time had an idea but very few pursue ideas to bring them into reality. AI is one idea whose time has come and it is all set to dominate our mind space in the coming years. The Artificial Intelligence sector is witnessing an enormous interest from private equity investors. In 2016 close to 550 startups were using AI as a core part of their products and they collectively raised US$ 5 Billion (Rs 32,500 Crore) according to CBInsights. Some analysts expect this funding record will be surpassed again this year.
The interest in the sector has prompted a frenzy of startups jumping into the fray. Given below are five startups who have well-executed ideas that could transform how your company does business.
Providing white label digital assistants, Clare harnesses the power of artificial intelligence and natural language processing through which businesses can automate their interactions with clients. Clare is not just a chat-bot but can mine your customer’s bank accounts to project trends which can then be used in targeted marketing. Their platform integrates with existing channels like Facebook, Whats-app and Twitter.
Markets flow: www.marketsflow.com
Uses data science to ensure investment returns are above average. The company provides tools for conducting trades and asset allocation. Built with machine learning capabilities and powered by Artificial intelligence, Markets-flow gives high returns when compared to the main indices. It is able to do so because the program becomes more intelligent with time. The product won this year’s best broker-dealer equity research award given by the WSL Fund Technology.
This risk management platform can analyze events occurring anywhere across your business at any point in time and provide insights that can beat humans. The company’s products can also be used for Fraud prevention while analyzing e-payments. The company has been selected to join the list of the top 100 European FinTech companies.
Online Sales: onlinesales.ai
Built by sokrati.com the product was acquired by Dentsu Aegis Network in June 2017. Analysts estimate that the startup was acquired for close to Rs 500 Crore (US$75 Million). Their product built on AI helps enhance the seller’s presence on marketplaces with product advertisements placed within the marketplace ecosystem. The software supports native ad formats for both desktops and mobile phones. Onlinesales.ai has found favor with many marketplaces that are built on Shopify, Magento, BigCommerce and CS-cart.
This startup helps generate up to five years of financial projections for companies if you just input your current financials. This AI-powered platform will then compare your company with 2-6 other companies in your sector to generate your financial projections. Useful for companies looking to make deals and secure investments. They no longer need to waste time figuring out complex projections.
Subscribe to Moneymint Weekly
Every Sunday we email people like you with top tips, insights and opportunities to manage your finances and build your online business. No hype, no scams, no fake gurus. Sign up below to get the next one.