Source | LinkedIn : By Robert Light
STARTUPS HEAVILY FOCUSING ON AI
It seems everyone is trying to get into the business of artificial intelligence (AI), and to quote Lt. Aldo Raine in a dated Quentin Tarantino reference, business is a-boomin’. Many startups are attempting to take advantage of what is being hailed as the next industrial revolution—one where AI becomes ingrained in our lives like electricity—and get in on the ground floor. This week Forbes outline ways in which founders of AI startups can hone their skills to accommodate for said AI revolution and cash in as the next unicorn in the space.
Microsoft announced recently that it would nurture AI startups in a new program at Station F in Paris. The behemoth will select a handful of startups that harness AI to start, but hopes to move to hundreds of startups in the future.
CB Insights released a list of commerce startups that are utilizing AI for a number of different functions including price adjustments, behavior tracking and much more. These startups are taking advantage of AI capabilities to better their solutions, such as natural language search, visual search, real-time pricing and predictive merchandising. These AI use-cases are applicable now and making the lives of shoppers simpler.
It’s worth noting that AI bots tend to have cool names. We all know Alexa and Siri, but, according to TechCrunch, most digital assistants and bot startups are run by “the cool kids” who give their products hip names like Aiden and Riley. I thought it was cool to be a nerd these days. Did that already stop being a thing? No one even cared to warn me…
TO AVOID DISRUPTION, ENTERPRISES INNOVATE WITH AI
While startups may be thriving in the AI world, IBM CEO Ginni Rometty wants to remind everyone that it was her company that “woke up the AI world,” and other major enterprise companies have followed suit.
Amazon made waves this week with its bid for grocer Whole Foods, which would be a strong move putting it head-to-head with Walmart, but others noted that it might be more valuable from an AI standpoint. By acquiring the 431 stores, Amazon can track the retail big data and teach its AI tools how shoppers go about their business in brick-and-mortar stores. The e-commerce king has been known to leverage big data by using AI products, so this allows for further innovation by Bezos and crew.