Tech

AI: Biggest 2021 Research Companies

Artificial intelligence is no doubt one of the hottest buzzwords right now. As the name implies, Artificial intelligence involves the development of software capable of intelligent behavior. AI currently powers a variety of systems and industries, including voice controls like Alexa and Siri, inventory management systems, and chatbots.

AI is also breaking records. In 2020 when the world was dealing with the effects of the COVID-19 pandemic, artificial intelligence managed to raise $33 billion.  This isn’t surprising because the need for AI became increasingly important for remote workers, students, shoppers, traders, and even the health care sector. 

Artificial intelligence is changing the world around us. From self-driving technology to varied industries such as iGaming, E-commerce, and Fintech, it’s easy to see why the industry has become a part of our daily lives.  This article lists some of the biggest AI companies that have changed the world. 

Duolingo

Duolingo is one of the most downloaded education platforms, boasting more than 300 million users. It’s an app that helps people learn a new language on the go. Launched in 2011, this app makes it easy for anyone to learn to speak, read and listen in dozens of languages.

Duolingo is powered by Artificial intelligence to humanize virtual language classes by creating a close human-to-human learning experience. Various features of the app, including reports, smart tips, notifications, and podcasts, use Artificial Intelligence and Machine Learning. For instance, the app uses AI placement tests to determine users’ knowledge, AI chatbots to teach language through automated texts, and AI algorithms to personalize a user’s experience.

Canvas

Based in San Francisco, California, this company creates solutions (robots) to improve infrastructure constructions. Canvas, self-proclaimed as ‘the future of construction,’ makes robotic tools that construction workers can use to predict and speed up their projects. These machines are very useful for drywall installations as it helps reduce drywall finishing time from 7 to 2 days. Canvas robots also help to improve safety by removing dust, congestion, and repetitive tasks from the site. 

This AI-driven technology has been applied to construction sites in Northern California, and the company is working on expanding to new markets.

Ascent

Ascent is a Chicago-based fintech industry specializing in building and managing compliance programs for customers in financial services. 

This company was founded in 2015, and they offer cloud solutions powered by artificial intelligence to financial firms. It can be difficult for a company to keep track of new rules and regulations in the financial industry. Ascent helps these companies save time and money by monitoring these changes and alerting them of any compliance issues. This AI-driven program is beneficial for those who want to comply with regulations effectively and efficiently.

Chatbots Studio

From handling purchases to conducting conversations with humans, the need for bots to perform automated tasks is on the increase. Chatbots Studio has its headquarters in Lviv, Ukraine, and is currently the number one chatbot development company in the world. They specialize in automating and developing chatbots that serve different industries, including banks, insurance, social media, retail companies, telecom, and many more. 

Founded in 2016, this company helps industries design conversational bots that understand the industry context. Chatbots Studio has also worked with different platforms including Facebook Messenger, Telegram, WhatsApp and Viber. 

Riskified

Riskified is a valuable platform for E-commerce industries to identify authentic customers and stop e-commerce fraud before it happens. This platform helps to create a better customer experience by ensuring a seamless shopping process for legitimate shoppers. Riskified works with AI and machine learning to pull out a user’s transaction history to determine if they are authentic or not.

Grammarly 

Grammarly is another software that stands on the shoulders of Artificial intelligence. This software works as a writing assistant to help writers, students, and researchers with spelling and grammar corrections.

With the support of AI, Grammarly scans written texts for grammatical/spelling errors and alerts users within seconds. The platform also checks for plagiarism and can be used as browser extensions, web apps, and specific apps like Microsoft Word and Google Docs. Founded in 2007 by Brad Hoover, Grammarly reportedly has a valuation of up to $1 billion. 

IBM

International Business Machines (IBM) is an American tech company that is over 109 years old and has clients in over 170 countries. The company offers diverse products and services like software, cloud, and artificial intelligence that assist humans with problem-solving.  They also do a lot of work around machine learning and deep learning operations.

One of their most notable products is the Watson Machine, a question-answering computer that answers questions posed in its natural language. IBM is also working towards building the first quantum computer in Germany to help doctors diagnose rare diseases.

Cylance

Cylance is a cybersecurity company acquired by Blackberry in 2018. They create products that help business organizations and government offices identify and get rid of cyberattacks.  These products are built on artificial intelligence, algorithm science, and machine learning to combat the growing cybersecurity threats. 

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