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#436977 The Top 100 AI Startups Out There Now, ...
New drug therapies for a range of chronic diseases. Defenses against various cyber attacks. Technologies to make cities work smarter. Weather and wildfire forecasts that boost safety and reduce risk. And commercial efforts to monetize so-called deepfakes.
What do all these disparate efforts have in common? They’re some of the solutions that the world’s most promising artificial intelligence startups are pursuing.
Data research firm CB Insights released its much-anticipated fourth annual list of the top 100 AI startups earlier this month. The New York-based company has become one of the go-to sources for emerging technology trends, especially in the startup scene.
About 10 years ago, it developed its own algorithm to assess the health of private companies using publicly-available information and non-traditional signals (think social media sentiment, for example) thanks to more than $1 million in grants from the National Science Foundation.
It uses that algorithm-generated data from what it calls a company’s Mosaic score—pulling together information on market trends, money, and momentum—along with other details ranging from patent activity to the latest news analysis to identify the best of the best.
“Our final list of companies is a mix of startups at various stages of R&D and product commercialization,” said Deepashri Varadharajanis, a lead analyst at CB Insights, during a recent presentation on the most prominent trends among the 2020 AI 100 startups.
About 10 companies on the list are among the world’s most valuable AI startups. For instance, there’s San Francisco-based Faire, which has raised at least $266 million since it was founded just three years ago. The company offers a wholesale marketplace that uses machine learning to match local retailers with goods that are predicted to sell well in their specific location.
Image courtesy of CB Insights
Funding for AI in Healthcare
Another startup valued at more than $1 billion, referred to as a unicorn in venture capital speak, is Butterfly Network, a company on the East Coast that has figured out a way to turn a smartphone phone into an ultrasound machine. Backed by $350 million in private investments, Butterfly Network uses AI to power the platform’s diagnostics. A more modestly funded San Francisco startup called Eko is doing something similar for stethoscopes.
In fact, there are more than a dozen AI healthcare startups on this year’s AI 100 list, representing the most companies of any industry on the list. In total, investors poured about $4 billion into AI healthcare startups last year, according to CB Insights, out of a record $26.6 billion raised by all private AI companies in 2019. Since 2014, more than 4,300 AI startups in 80 countries have raised about $83 billion.
One of the most intensive areas remains drug discovery, where companies unleash algorithms to screen potential drug candidates at an unprecedented speed and breadth that was impossible just a few years ago. It has led to the discovery of a new antibiotic to fight superbugs. There’s even a chance AI could help fight the coronavirus pandemic.
There are several AI drug discovery startups among the AI 100: San Francisco-based Atomwise claims its deep convolutional neural network, AtomNet, screens more than 100 million compounds each day. Cyclica is an AI drug discovery company in Toronto that just announced it would apply its platform to identify and develop novel cannabinoid-inspired drugs for neuropsychiatric conditions such as bipolar disorder and anxiety.
And then there’s OWKIN out of New York City, a startup that uses a type of machine learning called federated learning. Backed by Google, the company’s AI platform helps train algorithms without sharing the necessary patient data required to provide the sort of valuable insights researchers need for designing new drugs or even selecting the right populations for clinical trials.
Keeping Cyber Networks Healthy
Privacy and data security are the focus of a number of AI cybersecurity startups, as hackers attempt to leverage artificial intelligence to launch sophisticated attacks while also trying to fool the AI-powered systems rapidly coming online.
“I think this is an interesting field because it’s a bit of a cat and mouse game,” noted Varadharajanis. “As your cyber defenses get smarter, your cyber attacks get even smarter, and so it’s a constant game of who’s going to match the other in terms of tech capabilities.”
Few AI cybersecurity startups match Silicon Valley-based SentinelOne in terms of private capital. The company has raised more than $400 million, with a valuation of $1.1 billion following a $200 million Series E earlier this year. The company’s platform automates what’s called endpoint security, referring to laptops, phones, and other devices at the “end” of a centralized network.
Fellow AI 100 cybersecurity companies include Blue Hexagon, which protects the “edge” of the network against malware, and Abnormal Security, which stops targeted email attacks, both out of San Francisco. Just down the coast in Los Angeles is Obsidian Security, a startup offering cybersecurity for cloud services.
Deepfakes Get a Friendly Makeover
Deepfakes of videos and other types of AI-manipulated media where faces or voices are synthesized in order to fool viewers or listeners has been a different type of ongoing cybersecurity risk. However, some firms are swapping malicious intent for benign marketing and entertainment purposes.
Now anyone can be a supermodel thanks to Superpersonal, a London-based AI startup that has figured out a way to seamlessly swap a user’s face onto a fashionista modeling the latest threads on the catwalk. The most obvious use case is for shoppers to see how they will look in a particular outfit before taking the plunge on a plunging neckline.
Another British company called Synthesia helps users create videos where a talking head will deliver a customized speech or even talk in a different language. The startup’s claim to fame was releasing a campaign video for the NGO Malaria Must Die showing soccer star David Becham speak in nine different languages.
There’s also a Seattle-based company, Wellsaid Labs, which uses AI to produce voice-over narration where users can choose from a library of digital voices with human pitch, emphasis, and intonation. Because every narrator sounds just a little bit smarter with a British accent.
AI Helps Make Smart Cities Smarter
Speaking of smarter: A handful of AI 100 startups are helping create the smart city of the future, where a digital web of sensors, devices, and cloud-based analytics ensure that nobody is ever stuck in traffic again or without an umbrella at the wrong time. At least that’s the dream.
A couple of them are directly connected to Google subsidiary Sidewalk Labs, which focuses on tech solutions to improve urban design. A company called Replica was spun out just last year. It’s sort of SimCity for urban planning. The San Francisco startup uses location data from mobile phones to understand how people behave and travel throughout a typical day in the city. Those insights can then help city governments, for example, make better decisions about infrastructure development.
Denver-area startup AMP Robotics gets into the nitty gritty details of recycling by training robots on how to recycle trash, since humans have largely failed to do the job. The U.S. Environmental Protection Agency estimates that only about 30 percent of waste is recycled.
Some people might complain that weather forecasters don’t even do that well when trying to predict the weather. An Israeli AI startup, ClimaCell, claims it can forecast rain block by block. While the company taps the usual satellite and ground-based sources to create weather models, it has developed algorithms to analyze how precipitation and other conditions affect signals in cellular networks. By analyzing changes in microwave signals between cellular towers, the platform can predict the type and intensity of the precipitation down to street level.
And those are just some of the highlights of what some of the world’s most promising AI startups are doing.
“You have companies optimizing mining operations, warehouse logistics, insurance, workflows, and even working on bringing AI solutions to designing printed circuit boards,” Varadharajanis said. “So a lot of creative ways in which companies are applying AI to solve different issues in different industries.”
Image Credit: Butterfly Network Continue reading
#436944 Is Digital Learning Still Second Best?
As Covid-19 continues to spread, the world has gone digital on an unprecedented scale. Tens of thousands of employees are working from home, and huge conferences, like the Google I/O and Apple WWDC software extravaganzas, plan to experiment with digital events.
Universities too are sending students home. This might have meant an extended break from school not too long ago. But no more. As lecture halls go empty, an experiment into digital learning at scale is ramping up. In the US alone, over 100 universities, from Harvard to Duke, are offering online classes to students to keep the semester going.
While digital learning has been improving for some time, Covid-19 may not only tip us further into a more digitally connected reality, but also help us better appreciate its benefits. This is important because historically, digital learning has been viewed as inferior to traditional learning. But that may be changing.
The Inversion
We often think about digital technologies as ways to reach people without access to traditional services—online learning for children who don’t have schools nearby or telemedicine for patients with no access to doctors. And while these solutions have helped millions of people, they’re often viewed as “second best” and “better than nothing.” Even in more resource-rich environments, there’s an assumption one should pay more to attend an event in person—a concert, a football game, an exercise class—while digital equivalents are extremely cheap or free. Why is this? And is the situation about to change?
Take the case of Dr. Sanjeev Arora, a professor of medicine at the University of New Mexico. Arora started Project Echo because he was frustrated by how many late-stage cases of hepatitis C he encountered in rural New Mexico. He realized that if he had reached patients sooner, he could have prevented needless deaths. The solution? Digital learning for local health workers.
Project Echo connects rural healthcare practitioners to specialists at top health centers by video. The approach is collaborative: Specialists share best practices and work through cases with participants to apply them in the real world and learn from edge cases. Added to expert presentations, there are lots of opportunities to ask questions and interact with specialists.
The method forms a digital loop of learning, practice, assessment, and adjustment.
Since 2003, Project Echo has scaled to 800 locations in 39 countries and trained over 90,000 healthcare providers. Most notably, a study in The New England Journal of Medicine found that the outcomes of hepatitis C treatment given by Project Echo trained healthcare workers in rural and underserved areas were similar to outcomes at university medical centers. That is, digital learning in this context was equivalent to high quality in-person learning.
If that is possible today, with simple tools, will they surpass traditional medical centers and schools in the future? Can digital learning more generally follow suit and have the same success? Perhaps. Going digital brings its own special toolset to the table too.
The Benefits of Digital
If you’re training people online, you can record the session to better understand their engagement levels—or even add artificial intelligence to analyze it in real time. Ahura AI, for example, founded by Bryan Talebi, aims to upskill workers through online training. Early study of their method suggests they can significantly speed up learning by analyzing users’ real-time emotions—like frustration or distraction—and adjusting the lesson plan or difficulty on the fly.
Other benefits of digital learning include the near-instantaneous download of course materials—rather than printing and shipping books—and being able to more easily report grades and other results, a requirement for many schools and social services organizations. And of course, as other digitized industries show, digital learning can grow and scale further at much lower costs.
To that last point, 360ed, a digital learning startup founded in 2016 by Hla Hla Win, now serves millions of children in Myanmar with augmented reality lesson plans. And Global Startup Ecosystem, founded by Christine Souffrant Ntim and Einstein Kofi Ntim in 2015, is the world’s first and largest digital accelerator program. Their entirely online programs support over 1,000 companies in 90 countries. It’s astonishing how fast both of these organizations have grown.
Notably, both examples include offline experiences too. Many of the 360ed lesson plans come with paper flashcards children use with their smartphones because the online-offline interaction improves learning. The Global Startup Ecosystem also hosts about 10 additional in-person tech summits around the world on various topics through a related initiative.
Looking further ahead, probably the most important benefit of online learning will be its potential to integrate with other digital systems in the workplace.
Imagine a medical center that has perfect information about every patient and treatment in real time and that this information is (anonymously and privately) centralized, analyzed, and shared with medical centers, research labs, pharmaceutical companies, clinical trials, policy makers, and medical students around the world. Just as self-driving cars can learn to drive better by having access to the experiences of other self-driving cars, so too can any group working to solve complex, time-sensitive challenges learn from and build on each other’s experiences.
Why This Matters
While in the long term the world will likely end up combining the best aspects of traditional and digital learning, it’s important in the near term to be more aware of the assumptions we make about digital technologies. Some of the most pioneering work in education, healthcare, and other industries may not be highly visible right now because it is in a virtual setting. Most people are unaware, for example, that the busiest emergency room in rural America is already virtual.
Once they start converging with other digital technologies, these innovations will likely become the mainstream system for all of us. Which raises more questions: What is the best business model for these virtual services? If they start delivering better healthcare and educational outcomes than traditional institutions, should they charge more? Hopefully, we will see an even bigger shift occurring, in which technology allows us to provide high quality education, healthcare, and other services to everyone at more affordable prices than today.
These are some of the topics we can consider as Covid-19 forces us into uncharted territory.
Image Credit: Andras Vas / Unsplash Continue reading