7 Leading Artificial Intelligence Startups In India In 2018
The artificial intelligence (AI) sector plays a significant part in resolving some of the most critical difficulties encountered by organisations as well as consumers. The extensive adoption of AI and cognitive processes across all industries will accelerate worldwide earnings for the AI sector from approximately USD 16.06 billion in 2017 to a whopping USD 190.61 billion by 2025! Therefore, enrolling yourself in artificial intelligence courses is an obvious move if you wish to land a satisfactory job in the ever-growing AI field.
With the tremendous technological advancement in AI on a global scale, India is one country that is surpassing several other countries in different AI domains. Here are the top seven Indian Startups which are pushing the boundaries in the AI sector in 2018.
A Bengaluru-based startup, Niki.ai was founded in 2015 to develop a chatbot which assists in automating tasks like online ordering and payments. With its chatbot SDK (software development kit), the startup used the machine learning and NLP (natural language processing) technology to communicate with the users over a chat interface. Niki.ai has raised funding from eminent investors such as Ratan Tata and Unilazer Ventures. The AI chatbot AI supports end-to-end bookings for Uber and Ola cabs and offers cab booking, bill payments, recharge, home services, and ordering food. The AI startup claims to have 50+ partners on board with a 35% month-on-month revenue growth.
● Mad Street Den
Mad Street Den strives to drive AI into the everyday lives of people across the globe by working with brands and businesses in different industries. This covers IoT, mobile gaming, online fashion, user engagement & analytics, and social media. The startup’s AI platform also helps showcase the products, the consumers, and styles, suitable for them across various websites, apps, online stores – making the shopping experience more relevant. The startup also sells to furniture e-commerce shopping websites and is now developing products for industries such as gaming. Mad Street Den is a thriving AI startup which made it to Bloomberg compilation of the world’s 50 most profitable startups in 2017.
An edutech startup, Embibe has developed an AI-based learning platform, which runs on a mobile app or the website and gathers information from students. They charge only for personalised training guidance and high-level analysis. With Embibe, students can develop their skills and increase their examination scores by correcting the basic errors using its AI program. The startup aims to play a vital part in the lives of students by giving customised analytics on their performance. Embibe has announced that its AI platform can recognise 27 parameters that can foretell scores in an IIT entrance exam with almost 93% accuracy.
● Artivatic Data Labs
Artivatic empowers an enterprise through its AI Enterprise Tech Platform to take efficient human-like decisions on behalf of the businesses. It helps to integrate intelligent solutions and products without any external effort or human intervention. Built on neuroscience capabilities, genomic science, and psychology, Artivatic helps automate consumer experience, performance, and recommendation with an increase in conversion and income, all in real time. It is available as a set of SDK's, API's (application programming interface), and SaaS (Software as a service) products.
SipTugle is an AI startup that raised approximately $25 million from big investors including Accel. The AI algorithms developed by SigTuple can analyse patient samples, transfer it to a pathologist for analysis, and then deliver the final results back to the POC (point-of-care) in just under five minutes. This process helps to establish the initial diagnosis and ambulances can deliver the emergency medicine directly to patients without waiting for them to reach a hospital. The platform is developed to conduct basic screening and advanced diagnosis of urine, blood, and semen samples, along with retinal scans and x-rays. The startup has also designed an automated and computerised microscope, which addresses the lack of pathologists.
Active.ai is a SaaS and AI-enabled program that connects users with their banking partners via micro-conversations. The startup’s AI system, Triniti utilises platforms such as NLP, IoT, natural language generation, and machine learning. Active.ai assists commercial establishments in developing contextual and personalised interaction solutions, which can be used by customers through mobile, the Internet, and messaging and social channels. The AI used by Active.ai offers a tech platform for wealth managers, banks, and financial services businesses to communicate with customers. Active.ai collaborated with Axis Bank in 2017 to launch smart banking chatbots for seamless user experience.
● Uncanny Vision
Uncanny Vision gives AI-based surveillance programs, which applies learning-enabled algorithms that have been improved to operate on Edge servers. The startup renders scalable and cost-effective security measures for next-gen intelligent industries and safe cities. It also facilitates real-time analytics and actionable surveillance for high-value clients in banking and retail. The startup has developed products such as UncannyDL - a deep learning library for mobile applications; UncannyCV - a computer image/vision processing library; and UncannySurveillance - an AI-based surveillance program, which is targeted at testing analytics applications and security.
The AI industry has radically transformed the way humans consume and process data. With virtual assistants like Siri, Google Assistant, or Alexa, AI has simplified our lives by allowing us to communicate with various devices. This has also facilitated e-commerce companies to interpret customer behaviour and assisted financial institutions to chat with customers through AI-enabled chatbots. With the second highest population in the world, India has a humongous market for AI, and even the government is trying to strengthen the AI industry by allocating approximately ₹ 3,000 crores to start work on fifth-generation AI technology. Either way, India is slowly but steadily treading its way in the global AI market.