AI startups are growing enormously for the past several years. According to a report published by Statista, the global artificial intelligence market is expected to increase by 154%, a whopping 14.7 billion US Dollars on average. So, the idea of augmenting AI into the startup of 2020 sounds perfect, especially amid this unprecedented worldwide health emergency called COVID-19. AI startups of 2020 are going to be the smartest idea of the time. That’s why most of the entrepreneurs are planning to invest in AI-enabled startups. Suppose you are thinking about how AI benefits startup companies. AI-equipped software has a relatively low error rate as compared to human counterparts.
This writing piece can give you an idea of how, to begin with, your AI-based startup in 2020. Various companies across the globe are already using AI, along with ML.
AI Healthcare Start-Ups
AI startup ideas in the healthcare industry are shining bright day by day. Healthcare startups that are empowered by AI can assist doctors in diagnosing and determining when a patient’s condition is kind of critical. That’s how medical intervention can be done even before the patient gets hospitalized. AI startup companies in the healthcare domain are capable of saving a dying patient. Machine Learning saves the life of humans in places like hospitals, nursing homes, clinics. AI is doing incredibly well in curing cancer and other fatal deadly diseases. So, medical startups are surely going to be at the apex of this list.
IT Services and Cybersecurity
An AI-start up in the Information Technology and Cybersecurity domain has a long way to go so far. Leveraging AI and machine learning for IT and Cyber Security solutions for startups in 2020 can be of the best ideas of the decade as AI’s future is bright, and incorporating the same with a domain like IT and ML can be the best idea. AI prevents the chance of hacking and data leakage of a company. By incorporating AI into the systems, companies allow more profit generation, quarterly projections, and IPOs.
Energy and Cost Saver
AI startup funding reduces energy usage, and the cost of entire operations is another area that a business owner should consider. Concerns about the transportation of crude oil and natural and refining of oil and gas and the storage are always developing. Various manufacturing industries have been looking at these concepts and setting up the infrastructure to give them a next-generation friendly look.
In the middle of the COVID-19, the demand for E-learning shoots up like never before. With the virtual classes to online examination, the education domain has got another definition. AI helps to increase the quality of the online classes and make it available for the pupils at any time. The employment of AI introduces the students to the 3D world of E-Learning.
The finance sector is one of the badly affected sectors amidst this COVID-19 pandemic. The entire world is coping with the job losses and making both ends meet- so the question of savings is a far-fetched dream for many of us. AI comes to the rescue even in the financial sector. The importance of fintech startups has grown manifold. That’s why the number of fintech startups is increasing day by day, and AI is undoubtedly doing justice with the financial transactions and the loan disbursement processes.
So, for those who are all thinking about the future of the startups in 2020, this article will give them a clear heads up on the usage of AI to boom the startup industry in this year.