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These AI unicorns are generating next-gen innovative solutions for efficiency and progressArtificial intelligence is currently making its way towards becoming self-dependent. Global businesses have adapted to this interdisciplinary field and are creating a paradigm shift in almost all operations. Major AI companies are delivering some of the most avant-garde innovations to ensure that businesses continue to move forward. Here, we enlisted the top AI unicorns that are transforming global businesses in 2023.
H2O.aiH2O.ai is focused on solving complex business problems while accelerating the discovery of new technological ideas. The comprehensive AutoML capabilities can transform artificial intelligence to AI for gaining professional levels of accuracy, speed, as well as transparency. It serves multiple industries such as financial services, healthcare, telecom, manufacturing, insurance, and retail. It is focused on fraud detection, customer churn prediction, credit risk scopes, and so on.
Haomao.AIHaomao.AI is known as a leading artificial intelligence technology company focused on autonomous driving. The aim is to bring zero accidents, zero congestion, and upgrade the travel and logistics mode. It offers secure, intelligent, and easy-to-deploy capacity solutions as well as low-speed logistics intelligent hardware products while empowering industry customers.
HarnessHarness is one of the top AI companies with a modern software delivery platform harnessing artificial intelligence for simplifying DevOps processes. DevOps functionalities include CI, CD, cloud costs, feature flags, infrastructure-as-code, and many other services to take pipelines to the next level. There is a wide range of products to help deliver code reliably and quickly to the users.
HighRadiusHighRadius is one of the leading providers of AI-based order-to-cash and treasury platforms for more than 200 Fortune 1000 brands. Artificial intelligence offers integrated invoice-to-cash applications by going beyond the data-driven platform to deliver intelligence to clients. Autonomous finance and accounting help to cover cash forecasting, cash management, cash app, and many more.
HighspotHighspot helps to enhance the performance of sales teams by leveraging the benefits of artificial intelligence. It is known for empowering companies to elevate customer conversations to drive strategic growth through customer engagement with end-to-end analytics. This AI company offers services to multiple industries such as technology, manufacturing, life science, and financial services.
HiveHive is one of the top AI companies to transform multiple industries such as automotive, manufacturing, hospitality, retail, communications, financial services, and many more. This company leverages artificial intelligence to offer video and image annotation, text and document annotation, audio annotation, 3D point cloud annotation, and data sourcing. It helps to use AI to unlock the next wave of intelligent automation.
Horizon RoboticsChinese AI chipmaker, Horizon Robotics, announced a massive US$600 million in funding in 2023, in its Series B financing round, which enabled the company set a new record for the AI chip-making industry. Back in 2023, Horizon Robotics became the world’s highest-valued AI chip unicorn. The funding was led by South Korean conglomerate SK, a semiconductor supplier named SK Hynix, and other top-tier manufacturers. Founded by Dr. Yu Kai, Former Director of Baidu, a deep learning research institute, Horizon Robotics received more than US$100 million in its A+ round led by chip giant Intel in 2023. Now with the investment from SK Hynix, the three-year-old startup acquired two of the world’s top three semiconductor companies as its major shareholders.
Icertis InnovaccerInnovaccer Inc is a leading healthcare data activation platform company focused on delivering more efficient and effective healthcare through the use of pioneering analytics and transparent, clean, and accurate data. Innvoaccer’s aim is to simplify complex data from all points of care, streamline the information, and help organizations make powerful decisions and realize strategic goals. Innovaccer landed US$150 million in a Series E round, adding nearly US$2 billion to its valuation. The startup was then valued at US$3.2 billion. Its previous round of funding put the big data startup in the leagues of health tech unicorns and increased its total funding by US$105 million.
Inspur CloudInspur Group is China’s leading cloud computing, big data service provider with three listed companies: Inspur Information, Inspur Software and Inspur International covering four large industry groups of the cloud data center, cloud services and big data, smart city, and smart enterprises. Inspur offers IT products and services that satisfy the information needs of more than 120 countries and regions.
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How Ai Is Transforming The Automotive Industry
Automotive is often at forefront of technology. For decades, it has used robots to build its assembly lines. It has also been a pioneer in industrial intelligence (AI).
Semi-autonomous driving and autonomous driving are two of the biggest problems in the automotive industry.
These vehicles are equipped with a variety of sensors, cameras, and processors that can provide massive amounts of data to help them avoid obstacles, navigate in traffic, respond and signify, stop and park, and other functions required for driving.
Driverless cars need to be able to “see” and react quickly in an actual situation. Advanced AI-based decision-making and processing are required to crunch all driving-related numbers in real-time.
6 Ways AI Is Driving Automotive InnovationThe automotive industry is one sector that has seen rapid growth in AI because of its size, profit margins, and fierce competition with the likes of GM and Toyota.
According to Tractica, the total AI market in automotive will be approximately $27 billion by 2025.
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1. NautoNauto has developed a predictive AI system to help you avoid collisions.
It includes vision tech that is used by over 700 fleets. It can detect more than 40 risk factors within and outside a vehicle and warns of potential collisions. It was used by the Delivery Authority, a last-mile delivery fleet in the Greater Chicago area, to reduce collisions by 81%.
Yoav Banin is the chief product officer of Nauto. Nauto uses AI-native technology and data science to predict collisions and prevent them from happening, Yoav Banin said.
Nauto uses AI to understand driver behavior, rather than relying on vehicle-centric telematics or cameras to determine driving risk. To deliver audible alerts, it analyzes subtle indicators such as distraction, drowsiness, and cell phone use.
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2. TeslaTesla is actively involved in AI on many fronts.
It just revealed the DI custom chip, which is part of Tesla’s Dojo supercomputer systems at its Tesla AI Day. This chip is manufactured in 7-nanometers and has 362 teraflops processing power.
This chip has more power than an exaflop, with 25 DI chips per tile and 120 tiles distributed across multiple cabinets. It is enough to transform the automotive AI game.
This technology is being developed in partnership with Intel, Nvidia, and Graphcore. This partnership will speed up the training of AI models to allow them to recognize key details from Tesla’s vehicle video feeds.
3. KawasakiKawasaki SoftBank use AI to create next-generation motorcycles. They can adapt to the rider’s needs and grow with them.
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4. JeepActive-driving assistance has been updated to improve driver safety and performance. Sight Machine technology is being used by the company to continuously inspect the final assembly line for Jeep Grand Cherokees as well as other vehicles.
The system inspects 1,100 vehicles per hour, 15 exterior elements included, and uses enough intelligence to distinguish between 25 models and 11 colors with 99.9% accuracy. AI, manufacturing execution systems (MES), image analysis systems, and edge/cloud systems share the data from the inspection.
Sight Machine’s manufacturing productivity platform “gives everyone from the plant floor up to the C-suite a trusted and dynamically updating view” of production, said Jon Sobel (co-founder, CEO, Sight Machine).
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5. FordFord is at forefront of automotive AI research.
It is using AI to accelerate production in order to help propel the technology forward. Symbio Robotics technology is used to help robots that assemble torque converters in Michigan. This is in addition to the company’s own drive assist systems, and significant investment in autonomous vehicle technology.
6. Driver Monitoring Systems (DMS).The DMS is a set of sensors or cameras that are placed in the vehicle’s interior. They use computer vision (CV), to monitor driver behavior and issue warnings or alerts when drivers exhibit signs of distraction, drowsiness, or inattention.
Top 5 Ways Ai And Augmented Reality Are Transforming Map Design
Here are the top 5 ways AI and augmented reality are transforming map design
Maps are no longer merely a way to navigate from A to B because of technological breakthroughs like artificial intelligence and augmented reality, personalization, interactive design, and data visualization. In the last ten years, maps have experienced a fundamental change, transitioning from static, two-dimensional depictions of actual areas to immersive, interactive experiences that engage users on many different levels.
A study predicts that the market for augmented reality technology will increase from US$10.7 billion in 2023 to US$72.7 billion by 2024, with the development of AR technology being a major driver of innovation in map design. According to a report, the global market for AI software will increase from US$1.4 billion in 2023 to US$59.8 billion by 2025. The integration of AI and machine learning is also significantly contributing to the personalization of maps to particular user demands. In this article, we have mentioned the top 5 ways AI and augmented reality are transforming map design.
Enhancing Map Exploration
The way we engage with maps is evolving as a result of augmented reality (AR) technology. Information is superimposed over the actual surroundings to create a more immersive experience. For instance, a user can aim their smartphone at a building to view the architectural style and history using augmented reality. When maps and augmented reality (AR) technologies are combined, users can engage in interactive experiences that deliver pertinent information based on their location.
Because they make it easier for users to explore and learn more about their surroundings, augmented reality maps offer an improved user experience. Businesses can potentially profit from AR maps by offering nearby consumers location-based services and marketing.
Intelligent Maps
The way maps are personalized to meet individual needs is changing as a result of AI and machine learning (ML). According to the user’s choices, personalization can include tailored routes, landmarks, and points of interest.
Beyond Basics
Map design increasingly includes interactive elements. The way that maps are presented is changing with the introduction of three-dimensional (3D) maps, animations, and visual effects. Zooming in and out is one interactive element that gives users a more immersive and interesting experience.
By giving additional context and details about the user’s surroundings, interactive design can improve the user experience. Developers have the option to design unique interactive maps for businesses and applications using mapping platforms like Mapbox.
Additionally, these maps can be created in a way that will increase customer engagement and their level of product satisfaction.
Location-Based Services in the Age of IoT
The Internet of Things (IoT) is being connected via location-based services to allow real-time tracking of autonomous vehicles and parking availability. Users may receive real-time information about their surroundings, such as traffic, accidents, and road closures, by integrating IoT sensors with maps.
Uncovering New Insights
To give users deeper insights and more dynamic experiences, data visualization techniques are increasingly being used.
Tools for data visualization, like heat maps, give users a visual representation of the data, making it simpler for them to interpret. Users may gain real-time information about their surroundings by combining maps and data visualization tools. Data visualization is being used by mapping companies like Carto to provide organizations with tools for analyzing and comprehending geographical data. Therefore, it is crucial to employ data visualization to give people accurate and pertinent information.
Top 10 Robotics Startups In The Uk For 2023
The future of robotics: top 10 UK startups that are changing the game in 2023 and beyond
The robotics industry is rapidly expanding and evolving, with new startups emerging every year. The United Kingdom has been at the forefront of this trend, with a growing number of robotics startups that are pushing the boundaries of technology and changing the way we interact with machines.
Automata
Automata, a London-based startup, is transforming the manufacturing industry with its cutting-edge, low-cost robotic solutions. Their flagship product, Eva, a highly versatile robotic arm, is just one example of the company’s commitment to making robotics accessible and affordable for businesses of all sizes. With a focus on ease of use and innovation, Automata is poised to continue disrupting the industry and driving the future of manufacturing forward.
Shadow Robot Company
The Shadow Robot Company, headquartered in London, stands as a revered and pioneering figure in the realm of robotics. With a rich history and extensive expertise, they have established themselves as specialists in the development of highly dexterous robotic hands, revolutionizing the field of automation. By meticulously crafting cutting-edge technology, the company has successfully created robotic hands capable of performing intricate tasks such as grasping and manipulation with exceptional precision and versatility.
Open Bionics
Open Bionics is a Bristol-based robotics startup that specializes in the development of affordable, high-performance bionic hands for amputees. Their products are designed to be highly intuitive and easy to use, allowing users to perform a wide range of tasks with ease.
The Robot Company
The Robot Company is a Manchester-based startup that focuses on the development of autonomous mobile robots for a variety of industries, including manufacturing, logistics, and healthcare. Their robots are designed to be highly adaptable and can be customized to meet the specific needs of their clients.
BotsAndUs
BotsAndUs is a London-based robotics startup that specializes in the development of autonomous service robots for the retail and hospitality industries. Their robots are designed to provide a range of services, including customer service, product recommendations, and data collection.
RoboFold
RoboFold is a London-based robotics startup that specializes in the development of robotic folding machines for the sheet metal industry. Their machines are designed to be highly precise and efficient, allowing for faster production times and higher-quality products.
Autonomous Devices
Autonomous Devices is a Cambridge-based startup that focuses on the development of autonomous underwater vehicles (AUVs). Their AUVs are designed to be highly versatile and can be used for a wide range of applications, including underwater exploration, oceanography, and environmental monitoring.
Rovco
Rovco is a Bristol-based robotics startup that specializes in the development of remotely operated underwater vehicles (ROVs). Their ROVs are designed to be highly agile and can be used for a variety of tasks
Oxbotica
Oxbotica is an Oxford-based robotics startup that focuses on the development of autonomous vehicles and robotics software. Their cutting-edge software allows robots and vehicles to operate autonomously, without the need for human intervention. They are currently working with a range of industries, including logistics, mining, and agriculture, to implement their technology and improve efficiency.
Reach Robotics
Top 15 Ai Projects Powering Google Products In 2023
We already covered how AI is integral to Alphabet. We had left out Google. As AI is starting to power all Google products, Google deserves its own focus.
We are now witnessing a new shift in computing: the move from a mobile-first to an AI-first world.
Sundar Pichai @ blog.google
Current productsFrom smartphone assistants to image recognition and translation, a myriad of AI functionality hides within google apps that you daily use. We mapped this functionality leveraging Smart Faktory’s Google strategy framework.
Google the search engine is powered by AI: According to Wired’s Cade Metz; Google’s search engine was always driven by algorithms that automatically generate a response to each query. But these algorithms amounted to a set of definite rules. Google engineers could readily change and refine these rules. And unlike neural nets, these algorithms didn’t learn on their own. But now, Google has incorporated deep learning into its search engine. And with its head of AI taking over search, the company seems to believe this is the way forward.
Google Maps’ Driving Mode estimates where you are headed and helps you navigate without any commands.
Youtube Safe Content uses machine learning techniques to ensure that brands are not displayed next to offensive content.
Google Photos suggesting which photos you should share with friends.
Gmail Smart Reply suggesting replies that match your style and the email you received.
Google Drive Smart Scheduling suggests meeting schedules based on user’s existing schedule and habits.
Google Calendar Quick Access feature predicts which files will be used improving performance and user experience.
Nest Cam Outdoor leveraged machine learning to set up an automated outdoor security camera.
Google Translate uses an artificial neural network called Google Neural Machine Translation (GNMT) to increase fluency and accuracy of translations.
Google Chrome uses AI to
present short and highly related parts of a video while searching for something in Google Search.
analyze the images on a website and plays an audio description or the alt text(when available) for people who are blind or have low vision.
Google News uses AI to understand the people, places and things involved in a story as it evolves, organize them based on how they relate to one another as explained in Google Blog.
Google Assistant is a voice assistant for smart phones or wearables that can search online your flight status or the weather when you get there. Touch and hold the Home button and find your Google Photos, access your music playlists and more. Both Siri and Google Assistant do a decent enough job of finding restaurants, bars, and other kind of businesses nearby, but Google’s app came out on top in our tests, not just on the places it returned, but on the interface: results are presented in a simple carousel and you can quickly jump to a Google Maps view. Also Google Assistant remembers what you’ve already said, speaks in foreign languages. Like Apple’s Siri, it is much more than an assistant, despite the name: it will read you poetry, tell you a joke, or play a game with you.
Google Home: You will be able to get hands-free help from your Assistant embedded in Google Home. Say “Ok Google” to get the morning news or manage your schedule.
Waymo an autonomous driving technology company became a subsidiary of Alphabet in 2023. Though Waymo announced in 2023 that they would be making self-driving cars available by 2023. We still don’t see them hitting the road as of 2023 due to regulatory concerns and complexity of self-driving.
For fun and experimentation you can visit AI experiments for videos on AI experiments.
Discountinued products
Messaging App Allo and its Smart Reply functionality was launched with significant functionality but shut down in 2023: Google joined the messaging app battle with Allo. As a messaging app, Allo lets you express yourself with stickers, doodles, HUGE emojis & text. Furthermore it brings you the Google Assistant without leaving the conversation. The AI algorithm used to learn your style and provide more suggestions, which makes your message more ‘you’. You could get creative with the photos you send by doodling on them or adding text or draw a smiley face, turn your friends into memes, and mix in some color.
Adding a new feature turning a selfie into an emoji, Google says that the algorithms powering the new tool are powerful, machine-learning technologies that could generate 563 quadrillion different faces. The search giant is using neural networks to create custom emojis.
Now that you know what Google is up to in AI, you can explore the rest of the AI universe. You can check out
You can also our list of AI tools and services:
And If you have a business problem that is not addressed here:
Cem regularly speaks at international technology conferences. He graduated from Bogazici University as a computer engineer and holds an MBA from Columbia Business School.
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Concentration In The Banking Industry
Concentration in the Banking Industry
So if the concentration in any market or industry is bad for consumers, does the same hold true for the banking sector? Most developed and industrialized countries have a high concentration within the financial sector, especially the banking industry. To put things in perspective,
Here are some figures from non-US markets:
In Finland, the top three banks control over 85% of the market.
In Norway, the top three banks have control of 84% of the market.
The top 3 banks in New Zealand and South Africa control 77% of the market.
The Banking Industry in the United States of AmericaThings are very different in the financial sector in the United States. In fact, the U.S. banking sector has a relatively low level of concentration as compared to the markets above. In the U.S. the top 3 banks control only 19% of the market.
So what does this mean for the industry? Is low concentration the American market a good or bad thing? Let’s examine this in more detail.
Concentration in the U.S. Banking Industry: A Good ThingWith the breakdown of the financial system in 2008 still fresh in our minds, concentration within the banking industry may not be a bad thing for American consumers. According to a study by the NBER (National Bureau of Economic Research), a high level of concentration can lead to higher levels of stability within the banking industry. In fact, countries with a concentration level of 72% or above had fewer instances of banking failure.
How Can Concentration be Beneficial?Strictly within the banking industry, there are 3 key benefits of a higher level of concentration. They are as follows:
Higher concentration levels mean more profits for the banks that dominate the industry. On the flip side, the interest rates and service fees will go up. However, banks, and by extension, depositors remain safe from economic shocks. If banks have higher franchise values, they will be less willing to take financial risks that may be damaging.
Its easier to monitor a few large banks in the industry than numerous small ones. Regulatory bodies and financial watchdogs have an easier task keeping an eye on dominant banks. Larger banks will also have similar operations and systems, adding to the uniformity.
So What Does This Mean for America?As we mentioned above, the U.S. has a relatively low concentration level within the banking industry. This is one of the reasons the United States sees more economic fluctuation than more concentrated markets, according to experts. According to the NBER, banking failure and bank size have a negative correlation. As the banks’ sizes increase, the number of banking failures comes down. But that’s not to say there aren’t any negative effects.
How Can Concentration be Negative?Higher levels of concentration within any industry usually lead to lower levels of competition. Prices and fees will also rise with increasingly concentrated industries. This is part of the reason we see higher HughesNet bundle prices every year. And banking is no exception. In the banking industry, more concentration means higher interest rates. Investors start balking at risky investments. There’s also the fact that less profitable niches may be ignored by more popular banks in favor of the more profitable ones. You can see this in many industries, like the aviation industry which only flies popular routes.
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