What does a typical AI startup in Oslo look like?

According to a study from Oslo AI, there are over 70 startup companies in Oslo that use or develop AI technology. Let’s explore some characteristics that many of them share.

Established in 2016

The typical AI startup in Oslo was established around five years ago. In 2016, machine learning was at the peak of Gartner’s hype cycle for emerging technologies. An increasing number of organizations were curious about what machine learning and other AI technologies could do for their business, and new companies were created to meet their needs.

Serving large organizations

Around 90 % of AI startups in Oslo are B2B companies. The majority has large organizations as customers or partners. The startup contributes with guidance and technology expertise and the large organization brings access to data, use cases and money.

Making sense of industrial or business data

The startup usually revolves around an AI tool that is its main product. There are a wide range of purposes for these tools, but the most typical is a software that is monitoring and making sense of industrial or business data. In this way, the customer will have a better understanding of what measures that should be taken.

Stays small

Even though the typical AI startup in Oslo has existed for five years, it stays relatively small. 2 out of 3 startups have less than 20 employees, and the trend is a modest revenue growth.

And one last fun fact: 26 % have a website ending with “.ai”, a domain originally meant for organizations in Anguilla, an island in the Caribbean.