Throughout both days of World Summit AI, CEOs of early and mature startups and unicorns presented their products or joined panel debates. Below I will list my favourite startups, what they do and any interesting information they shared. Enjoy!
Emily Foges, CEO at Luminance, joined a panel table of ‘Hot Pick of AI Disruptors’. Luminance started 3 years ago and now lawyers around the world rely on the platform to dig deeper into their data, providing unprecedented insight and clarity across their contracts. They are disrupting the work of lawyers and already working with 170 organizations.
Thread is a service that recommends clothes in your style, size and budget. It currently works for men fashion and they will soon be launching for women. In a Series B funding round led by H&M, Thread secured $22 million in additional funding, bringing its total investment to over $40 million.
Edward Snelson, Head of Applied Research, emphasized that retail companies have to be user-driven and really understand their customers. Thread gathers a lot of data on what customers like, which can be very valuable for clothes producers when designing new collections.
Thread’s team counts with 10 stylists who create looks and give the looks adjectives to describe them. Users (now over 1 M), when they signup, give characteristics about themselves. AI algorithms with feedback loops connect both characteristic lists to give users their ideal looks.
UVeye provides high-end solutions for automatic external inspection of vehicles, using advanced technologies that include proprietary hardware combined with machine learning and computer-vision algorithms.
Their clients include car manufacturers, insurance companies & bus service companies.
Squirrel.ai is the 1st AI-powered adaptive education provider in China. They provide personalized & high-quality K-12 after-school tutoring at an affordable price. The objective is to address the 2 burning needs in education today: LACK of Personalized Attention in Traditional Classrooms and UNEQUAL Distribution of Educational Opportunities.
Futurice is a new breed of innovation consultancy with digital at its core. During the conference, they organized a workshop about 10 practical steps for leaders and teams to move beyond the hype and get going with Data and AI. 1 hour of networking and finding exact ways in which to implement AI in a company. Their future-driven, inclusive and experimental culture really makes me want to join their team after uni! :)
SciSports is a leading provider of data intelligence for professional football organizations. The European Union selected SciSports as one of the next European Unicorns and the HYPE Foundation elected the company as the most innovative football company in the world. This platform can be used to predict the player's sale price, the possibility of future injuries or compatibility with other players.
CBInsights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents, partnerships and news mentions to help you see tomorrow’s opportunities, today.
An interesting insight is the factors that are holding companies behind AI:
- Data silos and outdated AI infrastructure
- Fear of regulatory risk from untested tech
- Slow to react
- Companies don’t know where to start.
AND, why should companies turn this around:
- If you don’t, someone else will
- Appeal to a changing demography and customer base
- Improve margins and generate additional revenue streams.
They also explained how Google is using AI to disrupt the healthcare $3 Trillion industry, the importance to focus on personalization for selling and car ownership is being substituted by car sharing.
Another of my favorite talks was by Jarno Kartela, from FourKind, about how he is using AI to create whiskey. FourKind is a company of hands-on advisors, and Jarno talked about how we can use AI for creativity:
Back to the whiskey, two models are used: one to generate new recipes and the other to determine whether they are good or not. This subjective opinion is modeled by taking into account the opinion of professional whiskey tasters, international whiskey awards and ratings on the previous whiskey batch. Very interesting indeed!
And these are only some of them! The AI Startup scene is without a doubt exciting and is getting more and more competitive. Are you going to miss out? As a company leader think, which problems can one of these startups solve for me? As a young professional or student think, which startup would I like to join to gather more experience in AI? As an ambitious entrepreneur think, who are going to be my new competitors?
AI industry has a place for us all! Soon, blog 3 of this series, introducing important people of the AI Scene. Don’t miss out!