Inspiration is the key that leads to formation of new products and ideas. Apart from a technological mind set, it is inspiration that acts as a driving spirit for starting a prospective business. Practically speaking, technical knowledge about artificial intelligence is the most important prerequisite for a startup. Young entrepreneurs who want to make a mark in the AI industry take artificial intelligence courses in Delhi and supplement it with practical training.
Let us examine the prospective ventures of AI capitalists in various sectors.
AI in marketing
Artificial intelligence has revolutionized the domain of marketing in the last few years. Customer recommendation system, personalized recommendation as well as predictive analytics are some of the ways through which artificial intelligence has transformed the digital marketing system. Targeted marketing and brand positioning are some of the other ways through which artificial intelligence has contributed to the domain of digital marketing. It needs to be noted at this point in time that the recommendation systems of tech giants like Amazon and Netflix make use of artificial intelligence in one way or the other.
Health tech startups: Clinical decision support system
The healthcare industry has been rapidly integrated with artificial intelligence and machine learning in the last two years. The alignment of the healthcare industry with artificial intelligence has helped in precise diagnosis and timely treatment of patients.
It is important to pinpoint some of the most advanced applications of artificial intelligence in the medical sector. Artificial intelligence has helped in the development of clinical decision support systems that help medical practitioners at three important levels of treatment. At the level of diagnosis, the decision support system makes use of natural language processing to receive input from the patient. These inputs are compared with a repository of medical records and corresponding disease is predicted. At the level of treatment, the decision support system helps the medical practitioners in recommending the right medicine and taking the right course of action for treating a particular disease. In addition to this, the clinical decision support system also takes feedback from the patient and keeps a record of recovery time so that further improvisation is possible in future.
AI based space startups
Artificial intelligence based startups that deal with space exploration are rapidly proliferating. This is because the research prospects in this regard are very bright and the investment is also picking up slowly. The space satellite system requires analysis of voluminous amounts of data which is not possible without the aid of machine learning techniques. The successful ventures of space startups like SpaceX have proved that this is a prospective line of research with strong commercial aspects. Various space missions like voyager and pathfinder have proved that there is much more to explore in the planetary system than we have imagined. The flight of the first helicopter on Mars (ingenuity) has shown that the presence of frozen water on the surface of Mars could be a possibility. However, there is a need for analysis of sample data with the help of techniques, processes and systems that are powered by artificial intelligence.
Logistics revolution with AI
In the past, it was not possible to achieve perfect coordination between the point of production and the point of consumption. As such, the gaps in the logistics system lead to a shortage of products and loss in revenues. With the help of artificial intelligence, we have developed perfect coordination between various points of delivery. This has enabled us to boost our revenues by ensuring a continuous flow of products and maintaining the demand-supply life cycle. Automation in the logistics sector has proved to be a prospective domain for various startups. These startups are laying down a framework for coordination between producers and suppliers. For instance, a large number of startups have come up in the agricultural sector and are ensuring fast delivery from farm to factories with the help of an automated logistic network.
A large number of startups have become commercially successful in the domain of autonomous vehicles. Autonomous self-driving vehicles and flying taxis are deemed to be the next-generation vehicles that will command the terms of trade in the transportation sector. Autonomous vehicles are being successfully tested on an operational scale in countries like Singapore. In the future, we may expect hybrid means of transportation to come up and operate over land, water, and air.
Apart from the above-mentioned fields, there are other prospective domains for future startups and these include areas like gaming, communication, architecture, renewable energy, and agriculture to name a few.