Top 10 AI Start-Ups

by | 25. March 2022 | Basics, Basics

In 2022, we are celebrating the 10th anniversary of [at] – Alexander Thamm. 

10 years ago, we were the first consultancy in the German-speaking area to take up the cause of Data & AI. Today, we can say that artificial intelligence has the potential to make an important contribution to some of the major economic and social challenges of our time: AI plays a role in the energy transition and climate change, autonomous driving, the detection and treatment of diseases and in pandemic control. AI increases the efficiency of production processes and makes companies more adaptable to market changes through delivering real-time information and predictions.

The economic significance of this technology is growing rapidly: More than two-thirds of German companies now use artificial intelligence and machine learning.

With #AITOP10, we show you what’s hot right now in the field of Data & AI. Our TOP10 lists present podcast highlights, industry-specific AI trends, AI experts, tool recommendations, and much more. You get a broad cross-section of the Data & AI universe that has been driving us for 10 years now.

Enjoy the reading – and feel free to expand the list!

TOP 10 AI Start-Ups

Artificial Intelligence (AI) is gaining in popularity over the last few years and enterprises are starting to implement AI into their businesses. From the most mundane tasks to the most complex decisions, AI is performing certain tasks better and faster than humans. The benefits are becoming more apparent every day, but the field of AI is still in its infancy, and many start-up companies are pioneering the industry. Considering the rapid progress in the field of AI, some companies are already considered Unicorns.

*company valuation as of February 2022

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The most valued AI Startups | #AITOP10 (source: Alexander Thamm GmbH / Youtube, LLC., all rights reserved)

10th Place: Icertis (5$ BN*)

Contracts are the foundation of commerce, and for the first time in history, they are being digitized.  The start-up Icertis is set to apply AI to this new pool of digitized data to transform static contracts and extract important data with the use of Optical Character Recognition (OCR) and Natural Language Processing (NLP). The Icertis Contract Intelligence Platform enables companies to gain deep insights into contract relationships and performance. The platform can identify clauses, extract attributes from contracts and validate data. Therefore, the contract review time can be reduced, third-party contracts are processed faster, risks can be reduced and a consistent negotiation for the best possible terms and outcomes can be made.

9th Place: Horizon Robotics (5$ BN*)

As many AI applications rely on heavy computing power in big data centres, bringing lots of computing power into a small scale and form factor for applications like robots and autonomous vehicles is still difficult. The Chinese start-up is developing AI chips and software solutions, especially for autonomous driving applications. Backed by the hardware company Intel and partnered with automakers like Audi, the company has already developed an AI-based driver assistant that processes video to detect street boundaries and elements, other vehicles, and pedestrians in real-time. Furthermore, the unicorn is building AI processors, algorithms, and tools for fully autonomous driving solutions as well as driving monitoring systems.

8th Place: 6Sense (5.2$ BN*)

AI has become a fundamental cornerstone of how tech companies are building tools for salespeople. The start-up 6Sense, one of the pioneers in using AI to boost the sales and marketing experience, is capturing customer signals from know sources like the web to identify accounts and classify customers. With AI-based predictions, their platform can prioritize customers, recommend engagement times and create dynamic customer journeys based on their real-time buyer behaviour. In combination with optimizing marketing and advertising capabilities based on customer behaviour, 6Sense is able to help companies improve their conversion rates, budgets and reduce customer churn.

7th Place: Pony.ai (5.3$ BN*)

Pony.ai is another company that is leading the charge in the autonomous driving car industry.  The Start-Up’s proprietary deep learning platform is used in their autonomous driving cars, which are currently being tested on public roads in California. One big challenge that companies working on autonomous vehicles face is the lack of large-scale data sets. By training their cars on public roads and collecting of data in different driving and weather situations, Pony.ai can gain a better understanding of how humans drive and make their autonomous driving cars safer for the public.

6th Place: DataRobot (6.3$ BN*)

Building a whole machine learning project to be used for a certain use from scratch can be a lot of work and coding to deal with. The company DataRobot is set to ease this development process with their end-to-end machine learning platform. For example, finding an algorithm that suits your data so you can get the best out of your machine learning pipeline can be a time-consuming task. The DataRobot platform identifies a suitable algorithm to be used for the underlying dataset that you wish to analyse so the data can be processed the most efficiently. By simplifying many aspects of creating an ML pipeline, DataRobot tries to make AI technology more accessible and speed up development times.

5th Place: Automation Anywhere (6.8$ BN*)

Robotic Process Automation (RPA) and AI are a dream team when it comes to optimizing business processes and operations. In any business, there are tasks done by humans that could be done by software robots instead for the sake of saving time and focussing on value-creating tasks. With RPA, these tasks are sourced out to be done by a software robot that is mimicking the human doing the task. With the start-up’s technology, Automation doesn’t end at this point. Using AI, the companies’ services can accelerate digital business processes by learning to make decisions and discovering new tasks to automate. Being the biggest start-up in the field of RPA, Automation Anywhere uses machine learning and analytics to further transform information into data, get performance insights and optimize tasks.

4th Place: Gong (7.25$ BN*)

One crucial part of every business is sales. The start-up Gong is helping to solve a hard problem concerning the revenue process using AI. To help companies improve their customer success and sales performance, Gong tracks every customer interaction like sales calls or emails and evaluates important factors, topics that are spoken about and communication metrics using natural language processing and machine learning. Therefore, an AI can determine whether certain talk topics, approaches or strategies are successful and lead to a close. The AI can be used to train the sales team, surface risks, make real forecasts and adopt smarter strategies to improve sales performance and customer relations.

3th Place: Argo AI (7.25$ BN*)

Already attracting the attention of the automakers Ford and Volkswagen, the start-up is fiercely innovating in the field of self-driving technology. Utilizing lidar, radar and camera sensors, their AI-based self-driving system is set to make transportation and delivery a breeze. With the expertise of two automakers, they are already testing their vehicles on public streets in six US cities. Their system works based on detailed 3D maps that are put together by using their car’s sensors and AI technology as well as cloud infrastructure to share data across different vehicles. By today, Volkswagen and Ford invested in the promising start-up and are supplying them with test vehicles to get their autonomous driving technology on the street.

2th Place: Scale AI (7.3$ BN*)

To train a machine learning (ML) model, data preparation is key. For several purposes, labelled data is required to correctly train an ML model for certain use. The company Scale AI has specialized in the field of data labelling and preparation. Scale AI is working with several companies from different sectors, mainly automotive companies, that need labelled data to train their ML-Models. Labelling data can mean putting a square or a border around an object in a picture or video, highlighting important sections in a text or even structuring audio data. This way, a model can be trained and used for its special purpose, for example recognizing a pedestrian in a video made by a car’s camera system. As Scale AI has grown fast in the sector of data labelling, some of their customers are OpenAI, Airbnb, SPA and Toyota.

1th Place:ByteDance (140$ BN*)

Famous for the social media platform TikTok, the Chinese AI unicorn ByteDance is by far the most valuated AI start-up to date. Their famous app serves users all over the world with short video clips that are recommended to the user by learning from his preferences, viewing habits, location utilizing an AI recommendation system. Another popular app, especially in China is Toutiao. Also using AI, the app offers personalized and unique news, sports, and entertainment content for its users. With AI as a key factor to success, the 2012 founded company has quickly grown to the biggest unicorn with sophisticated AI technology in the world of AI. In fact, ByteDance is already starting to conquer the B2B market by selling its recommendation algorithms to other companies like BuzzFeed.

Carefully researched and curated, these are our Top 10 AI Start-ups using AI to change our world.
What is your favourite start-up striving towards changing the world with their ideas using artificial intelligence? Feel free to let us know about your secret tip of an AI-driven success story.

<a href="https://www.alexanderthamm.com/en/blog/author/lukaslux/" target="_self">Lukas Lux</a>

Lukas Lux

Lukas Lux ist Werkstudent im Bereich Customer & Strategy bei der Alexander Thamm GmbH. Neben seinem Studium des Sales Engineering & Product Management mit dem Schwerpunkt IT-Engineering beschäftigt er sich mit den aktuellsten Trends und Technologien im Bereich Data & AI und stellt diese in Zusammenarbeit mit unseren [at]Experten für euch zusammen.

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