Artificial Intelligence: Tools and Competitive Edge for Startups

Artificial Intelligence: Tools and Competitive Edge for Startups

November 30, 2016

“AI will be the next battleground through 2020”

-Gartner

 

The Executive Office of the President declares that “many have compared the promise of Artificial Intelligence to the transformative impacts of advancements in mobile computing.”[1] This renewed interest in Artificial Intelligence (AI) can be attributed to three significant factors: the availability of big data, improved machine learning approaches and algorithms.”[2] We live in a world that produces immense amounts of data that can now be tracked, and AI can provide valuable resources to translate big data into insights. The applications of AI are wide, ranging from language translation, to self-driving vehicles, to image recognition and medical devices and more. Startups should be interested in AI both for its immediate business use as well as an opportunity to compete in the market place.

 

 

 

Using Artificial Intelligence services for your startup

Though advanced human-like robots cannot yet emulate emotions and thoughts, today’s AI can assist startups in many ways. For example, delegating tasks is a skill most entrepreneurs need to survive. But not all founders can afford personal assistants. Luckily, today’s AI offers invaluable time saving solutions. Specifically, x.ai’s ‘Amy’[3] automates the tedious scheduling of meetings by writing the emails to your contacts for you, making the back and forth seem natural, as if they are having an exchange with a real person. By removing mundane tasks, AI frees entrepreneurs for tasks requiring creativity and emotional know-how.

 

If you’re in a company that employs a customer service center, AI services such as Digital Genius can reduce staff training as well as improve your service. This is accomplished by providing the customer service agent with intelligent prompts from which to choose in order to answer any customer inquiry.The representative can customize the recommended response, creating a collaborative process benefiting the customer.

 

Competing in the Artificial Intelligence space:  industry by industry

 

Government and private investments in big data technologies are giving a strong push to the AI market and for good reason. With network effects, the more users who participate on a platform, the better the experience becomes. Though big technology companies typically employ large, proprietary datasets that stretch across industries[4], startups have the competitive advantage of  being  faster to adapt to new technologies in the AI space. Some interesting areas to explore include trip planning, shopper recommendation systems, and ad targeting, as well as important applications in medical diagnosis, education, and scientific research.[5]

 

One intriguing and rather unexpected opportunity can be found in AI startups partnering with social justice and public policy institutions that do not commonly take on state-of-the art technologies or data science in their work. Collaborating with AI researchers and practitioners could help these establishments apply AI tactics to vast social challenges. [6]

 

In the medical world, diagnostic sciences use AI for biomedical image classification. In medical imaging, model-based intelligent analysis and decision-support tools assist in diagnosis and evaluation. For example, radiologists use the output from computerized analysis of medical images as a second opinion in lesion detection as well as in assessing the spread of disease, and reducing the rate of false negative cases.[7]

 

Addressing the issue of AI as it pertains to autonomous vehicles, the President’s office also recommends that the Department of Transportation work with industry and researchers to increase data sharing.[8] For a look on what the future self-driving market may look like, you can
read one of our former blog posts How to Market the Self-Driving Car.

 

Artificial intelligence technology continues to evolve as  businesses need intelligent automation to compete in the market. We can expect to see applications that generate real-time predictions  to radically change this exciting new space. Will your startup be one of them?

 

 

 

[1] Preparing for the Future of AI/ The White House

 

[2] Preparing for the Future of AI/ The White House

 

[3] CONCEIVABLE COLLABORATION: 4 EXAMPLES COMBINING PEOPLE & AI

 

 

[4] How startups can compete with enterprises in artificial intelligence and machine learning

 

 

[5] Preparing for the Future of AI/ The White House

 

[6] Preparing for the Future of AI/ The White House

 

[7] Artificial Intelligence and its Application in Different Areas

 

[8] Preparing for the Future of AI/ The White House

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Incentive Management Inc.
Ariel University Center of Samaria Upper Campus, Building 10 
+972 (0)3 908 5000
+972 (0)3 936 6873
Incentive, Peregrine Ventures Incubator 

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