Artificial Intelligence Companies
AI is a rapidly evolving industry changing how we live and work. These artificial intelligence companies deliver products and services that help businesses make the most of AI technology.
These startups leverage machine learning and deep learning to create solutions that augment human intelligence, increase efficiency or reduce costs. They’re also applying AI to solve industry-specific problems and improve customer experiences.
Banjo makes machine learning-based software that scours security camera feeds, social media posts, and 911 calls in real-time. The software raises alerts if it spots something that seems unusual.
It’s part of a wave of companies using artificial intelligence to scour the internet and other data for information that might help save lives or prevent crime. It’s also being used by financial service firms and consumer brands looking to catch the latest meme about their product.
One of the company’s biggest clients is a Las Vegas news outlet. The outlet says it could detect a wrong-way driver in the city just as it happened, thanks to Banjo’s technology.
But the company’s founder, Damien Patton, has a long history of white supremacist ties, including membership in a Ku Klux Klan group. That sparked concerns about state-supported technology being used to spy on Utahns or target them.
Founded in 2016, Matroid is a company that offers computer vision software. Its software enables anyone on a team to create, test and deploy detectors that automatically search video for people and objects without coding knowledge.
The company’s solution allows users to monitor live streams and archived video footage using machine-learning models to detect people, vehicles, objects, and events in real time. They can also set up alerts to receive notifications when certain circumstances are seen.
The company was founded by Stanford engineers and professors with world-class AI, machine learning, and computer vision expertise. It has received funding from New Enterprise Associates, Intel Capital, and Energize Ventures.
Atomwise is a biotech company that aims to use artificial intelligence to discover new medicines and agricultural compounds. Its groundbreaking AtomNet technology reasons like a human chemist, using powerful deep-learning algorithms and supercomputers to analyze millions of potential molecules every day.
Its platform is designed to move small molecule discovery away from uncertainty and toward search based on structure, which makes it more rational and practical. It also incorporates deep learning for structure-based drug design and a virtual library of more than 3 trillion synthesized compounds.
The startup has raised $123 million in a series B round led by Sanabil Investments and returning investors, including DCVC, BV, Tencent, Y Combinator, Dolby Ventures, and AME Cloud Ventures. According to a company press release, this brings the total funding to almost $175 million.
Its strategy aims to create better quality medicines faster and more efficiently, which can improve access and affordability. Its work centers on several diseases, including Chagas disease, an NTD estimated to affect 6-7 million people worldwide.
Andreessen Horowitz is one of the leading VC firms involved in artificial intelligence. It has a team of highly experienced investors who have been in the industry for many years and have backed multiple companies involved in artificial intelligence.
AI applications don’t look like traditional software – they rely on trained data models to interpret images, transcribe speech and generate natural language. They also often require ongoing human support and material variable costs beyond what is typically expected from a software business.
This dynamic leads to several important questions for founders. They must decide which problems they tackle and how much effort it will take to address them. In doing so, they must trade off near-term growth for long-term economic health. This can involve investing in a hyper-specific use case instead of tackling global problems that are easier for AI to automate but less profitable.
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