According to a report on “Global Forecast to 2030” by MarketsandMarkets, it is anticipated that the artificial intelligence market will expand significantly and become worth USD 1.3452 trillion by 2030 with a Compound Annual Growth Rate (CAGR) of around 36.8%. This upturn has been driven by a number of factors such as advancements in AI technologies, its growing application in various industries, and demand for AI based solutions. The current growth trend shows that as of the year 2024, the market value of the artificial intelligence industry has already exceeded $190.61 billion.
The Indian start-up ecosystem is vibrant and leading this wave of innovation is artificial intelligence (AI). Here are 10 young companies using AI to make a big impact in Indian market and globally.
1. Beatoven.ai (Bangalore, India)
This AI startup is a music lover’s dream. They use artificial intelligence to generate royalty-free background music that can be customized for a variety of purposes. Dying to have a powerful score for your next YouTube video? Do you need some upbeat melodies for the demonstration? Well, Bearoven.ai has got you covered as they produce music that aligns with your mood and style.
2. ZuAI (Bangalore, India)
Imagine if one had an AI-driven study partner! It comes in the form of ZuAI which is designed to help learners when powered by AI. This app operates like a tutor too smart enough to analyze your strengths and weaknesses before tailoring the materials for learning hence enabling personalized support. With ZuAI, you can concentrate on weak areas and feel more confident about studying.
3. Karya.ai (Bangalore, India)
Sales and marketing teams, celebrate! Karya.ai team introduces a new level that combines artificial intelligence and chatbots. These chatbots are like tireless virtual assistants that are skilled at managing customer queries, qualifying leads as well as leading prospective buyers through the sales pipeline. They can answer questions, book appointments or provide product information freeing up salespeople so that they only focus on closing deals.
4. CoRover (Bangalore, India)
CoRover is a pioneer in the automation of the insurance business. The company’s AI technology addresses repetitive workloads that can cause delays for insurers. Think about AI handling document processing, speeding up claims processing and detecting fraudulent activities. This will contribute to higher levels of efficiency and accuracy in the insurance industry.
5. Wrkit (Bengaluru, India)
Citizen developers should pay attention! Wrkit has introduced an AI powered no-code platform which is revolutionary. Even if you cannot develop software, Wrkit allows you to automate workflows as well as processes related to your enterprise. The AI does the complicated job of coding at the backend while as a user or administrator you can build visual workflows that enhance operations and productivity growth.
6. Haptik AI (Mumbai, India)
Now customer service interactions are about to get much smoother with Haptik AI. The company is an innovative start-up that specializes in developing conversational AI for enterprises. They make chatbots and virtual assistants that can do anything from answering FAQs to giving recommendations on what to buy. Just think of a chatbot that could solve technical problems, book appointments or even suggest you what to shop for – all this is possible with Haptik AI’s conversational AI solutions.
7. Vahan.ai (Bengaluru, India)
It may be difficult to manage a fleet of vehicles but Vahan.ai has come up with a system to simplify it. They have created AI-based systems that help manage fleets through which they optimize delivery routes, track vehicles in real-time as well as enhance overall fleet efficiency. Vahan.ai enables faster deliveries, minimized fuel costs, and insights on the operations of one’s fleet.
8. iXperience (Bengaluru, India)
In e-commerce world, personalization is everything and iXperience uses artificial intelligence (AI) technology to bring more excitement into shopping experiences. Their AI personalizes the customer journey on e-commerce platforms. This might involve tailoring product recommendations based on previous purchases and browsing habits, showing targeted promotions or even customizing search results. With iXperience’s AI, e-commerce businesses can create a more captivating shopping experience that keeps customers coming back for more.
9. SigTuple (Bengaluru, India)
The world of medical diagnostics is being revolutionized by SigTuple with the help of AI. Questions like what is the purpose or use of it and what does it aim at are irrelevant since it applies AI to medical imaging that ensures doctors can make quicker and more accurate diagnoses. Among other things, the company’s technology scrutinizes body scans such as X-rays, MRIs, etc., for detecting diseases like cancer or tuberculosis. It helps in early intervention and better patient outcomes.
10. GreyOrange (Gurgaon, India)
Warehouses are a fundamental part of many businesses; GreyOrange uses artificial intelligence to optimize warehouse operations. They create AI-supported warehouse automation systems that efficiently manage storage and retrieval of goods. Imagine a warehouse where robots controlled by computer programs navigate through aisles picking and placing items quickly and accurately. In summary, GreyOrange’s AI solutions can be very instrumental in enhancing logistics and fulfillment operations within warehouses.
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