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Artificial intelligence is one of the most sought after research domains in the present time. As per a report by Statista, the opportunities in sectors that are driven by artificial intelligence have increased by more than 66% in the last three years. Moreover, the demand in sectors dominated by artificial intelligence has increased exponentially in the last 5 years. This is especially true for roles like machine learning engineer, data analyst, data scientist, and the like. What is particularly interesting is the increasing overlap between entrepreneurship and artificial intelligence related sectors. There is no doubt in the fact that a lot of startups are proliferating around various skills of artificial intelligence. It would be quite intriguing to examine the range of startups that are centered around artificial intelligence or owe their origin to entrepreneurs who have taken an artificial intelligence course.
Startups based on Machine learning
The prime ideas around which the machine learning startups are based include recommendation systems and optimisation algorithms. Optimization algorithms are one of the essential components of startups based in the machine learning field because these algorithms have a high capacity to solve complex problems. Other prospective approaches around which machine learning startups start their operations include spam filtering and fraud detection. While starting a business venture, the first choice of startups is the design and development of machine learning models. These models require strategic planning and precise deployment for their effective functioning. This suggests that proficient understanding of machine learning algorithms like deep learning is very crucial.
Startups based on natural language processing
Business process outsourcing industry is a hotbed for investment when it comes to aspiring startups. Various types of AI-powered chatbots are being developed with the help of Natural Language Processing techniques. Machine translation is the most important component of natural language processing. Translation of text to speech and vice versa is important for building the Neural Schema of chatbots. The preprocessing of text and translation of text into various regional languages is a great idea for a startup to invest in. For conceiving high-level chatbots, processing huge data sets is essential and the initial cost for this is usually higher. However, some chatbots are able to process text in real time and deliver high returns in the long run.
Entrepreneurial spirit around computer vision
The entrepreneurial spirit around computer vision is shaped by the ideas of object detection and face recognition. Other important areas of research and development in the domain of computer vision include object detection and sentiment analysis. The comprehension of human emotions and image segmentation are also prosperous domains of investment. Computer vision based startups are unique because of the opportunity they have to work on novel projects. These projects are meant to recognise images in a virtual ecosystem and aid smart devices in image recognition. Object detection and image retrieval form important components of automated vehicles that attract big startups’ attention.
Healthcare based startups
The various innovative themes around which healthcare-based startups can be established include analysis of X-rays, CT scans, retinal scans as well as the detection and prediction of symptoms for various diseases. The use of artificial intelligence in the fields of Medical Research is becoming extremely popular. Moreover, artificial intelligence-based technologies are the most preferred option for leading doctors around the world due to the accuracy of the results that they provide. The innovation in the medical industry is garnering specific attention because of the covid-19 pandemic. So, it is highly recommended to invest in healthcare-based startups because of the wide scope as well as their lucrative considerations.
The road ahead: The future of AI-startups
The line of research that AI-based startups have been tracing in the past suggests a prospective future for them. The future startups in the field of artificial intelligence would be shaped around robotics and human-machine interaction. The analysis of emotions and automation setups would also attract significant investment in the upcoming smart age. The correlation and overlap of AI and IoT technologies would serve as a platform for great research and development. Conversation chatbots and humanoids with advanced cognitive capabilities would be a highlight of future startups.
Finally, the juxtaposition between various disciplines would set a new roadmap of interdisciplinary research. This interdisciplinary research will not only accentuate investment from different sectors but will also inspire the growth of the AI industry in the long run.