AI Start Ups 2024 - Seedtable's December Round Up

Artificial Intelligence (AI) has rapidly evolved in 2024, making a profound impact across industries from healthcare to finance. HSBC’s latest AI trends report highlights key innovations, including the use of AI for personalisation, automation, and advanced data analytics.

Here's an overview of some major AI trends, with examples from startups making significant strides:

1. AI-Powered Personalisation

Personalisation continues to be a major trend, with AI enabling startups to deliver tailored services that better meet consumer needs. From targeted marketing to custom financial products, AI is at the forefront of this evolution.

Seedtable Insight: Many AI startups are focusing on personalisation, leveraging AI to enhance customer experiences through smarter, more relevant products and services.

Example: Reonomy, a New York-based AI startup, uses machine learning to enhance commercial real estate data analysis, providing personalised insights for businesses to make informed investment decisions.

Seedtable Score: 85 | Startups: 3 | Funding Raised: $57M

2. AI in Automation and Efficiency

AI is revolutionising business operations by automating repetitive tasks, streamlining workflows, and improving overall efficiency. Startups are deploying AI to optimise processes across customer service, finance, and logistics.

Seedtable Insight: AI-driven automation is becoming critical to businesses seeking efficiency gains, enabling them to scale operations while reducing costs.

Example: Hyperscience, an AI startup based in New York, automates data extraction and processing for enterprises, improving operational efficiency and reducing manual workloads in sectors like insurance and finance.

Seedtable Score: 90 | Startups: 4 | Funding Raised: $80M

3. AI in Healthcare and Diagnostics

AI’s role in healthcare is expanding, particularly in diagnostics, where machine learning models are used to analyse medical data and assist in decision-making. These AI-powered solutions are improving the accuracy and speed of diagnoses.

Seedtable Insight: AI is transforming healthcare startups, offering more efficient, personalised care through predictive analytics and data-driven decision-making.

Example: Qventus, a California-based AI healthcare startup, uses AI to predict patient outcomes and optimise hospital operations. Their technology enhances decision-making in real-time, leading to more accurate diagnoses and efficient hospital management.

Seedtable Score: 80 | Startups: 6 | Funding Raised: $63M

4. AI in Data Analytics and Business Intelligence

AI is enabling companies to unlock insights from vast amounts of data, driving smarter decisions. Startups in this field are using AI to automate data analysis and offer predictive insights that improve business outcomes.

Seedtable Insight: Many AI startups are at the cutting edge of business intelligence, applying AI to transform raw data into actionable insights.

Example: ThoughtSpot, a leading AI-driven business intelligence platform, provides companies with advanced search and analytics capabilities. By using AI to process business data, ThoughtSpot helps businesses uncover insights faster and make data-driven decisions.

Seedtable Score: 90 | Startups: 6 | Funding Raised: $525M

5. AI Ethics and Governance

As AI technologies become more pervasive, the need for ethical frameworks and governance around AI use is critical. AI startups focused on ethics are developing solutions to ensure transparency, fairness, and accountability in AI systems.

Seedtable Insight: AI ethics is a growing concern, with startups working to ensure AI models are transparent, unbiased, and align with regulations.

Example: Truera, an AI governance company, provides tools for model explainability, enabling businesses to monitor and assess their AI models. This ensures transparency and accountability, helping mitigate the risks associated with AI decision-making.

Seedtable Score: 80 | Startups: 8 | Funding Raised: $52M

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