Top Innovative startups in the Location AI space in 2022
Top artificial intelligence & machine learning businesses have flocked to the Indian market in huge numbers. As a result, India has emerged as a hub for bright and astute AI & machine learning experts who are providing their clients with top-notch solutions. The industry broke records during the pandemic, as AI funding doubled in 2021 compared to 2020, according to CB Insights.
The phrase “location intelligence” has a variety of connotations. The success of a business, including its operations, revenue, sustainability, and growth, greatly depends on where it is located, where it plans to develop, where its customers and competitors are located, and other factors. Additionally, there are supplemental data factors that come into play to improve the insights generated from location intelligence, these data factors go beyond locations and together will affect how locations affect your organisation. These elements could include socio-demographic information, population density, available funds, purchasing power, environmental circumstances, and a wide range of other things.
The global location intelligence market is said to reach $51.25 billion by 2030, growing at a CAGR of 15.6%, according to a study by Grand View Research Inc. In the nascent domain of location intelligence, multiple location-based intelligence products are available today on the market that can feed location intelligence to these businesses. However, the true difficulty is deciding which option to pick. There are a few things to think about when considering a product for your business, including the value you get, the cost, user reviews, popularity, and more.
With investors clamouring and the technology cross-pollinating countless industries, we’ve rounded up 5 AI companies and startups worth keeping an eye on.
- DataRobot: DataRobot provides data scientists with a platform for building and deploying machine learning models. The software helps companies solve challenges by finding the best predictive model for their data. DataRobot’s tech is used in healthcare, fintech, insurance, manufacturing and sports analytics. DataRobot was founded in 2012 to democratise access to AI. Today, it is the AI Cloud leader, with a vision to deliver a unified platform for all users, all data types, and all environments to accelerate the delivery of AI to production for every organisation. DataRobot enables organisations to leverage the transformational power of AI by delivering the world’s only AI Cloud platform combined with an AI-native strategic success team to help customers rapidly turn data into value.
- GeoIQ: GeoIQ, a hyperlocal performance prediction startup from India, is a locational intelligence platform that tells the data values of each location in terms of people, behaviors, businesses, and potential opportunities as easily consumable layers on maps. GeoIQ utilises proprietary algorithms to layer government data with other 600+ trusted public and proprietary sources and satellite imagery to generate 100m x 100m street-level insights. The AI layer on top uses these data points to predict user behaviour, affluence, risk profile, fraud, business potential and other indicators at an address level. GeoIQ’s ML engine identifies the ‘why’ behind the ‘where’, thus unlocking patterns in business data and their locations. Not just that, the ML models also help businesses predict user behaviour, affluence, fraud, and business potential at an address level. The easy to use platform ultimately helps businesses in making smart decisions. The GeoIQ team also has few new product offerings coming soon, these will be focused on offering sector specific location intelligence solutions.
- CARTO: CARTO is the platform that turns location data into more efficient delivery routes, better behavioral marketing, strategic store placements, and much more. Business Analysts to Developers and Data Scientists, use this Location Intelligence platform to understand where and why things happen, optimize business processes, and predict future outcomes. The platform enables integration with the leading cloud data platforms and analytics tools, including Google BigQuery, Snowflake, Amazon Redshift and Databricks. Eliminate ETL complexity and any limits on scalability. Whether you’re looking for SaaS, private or public cloud or self-hosted, the platform is ready to support your location-based decisions on your terms.
- Anodot: Anodot uses analytics and artificial intelligence to monitor business data and provide real-time alerts and insights. Anodot has over a hundred customers across industries like fintech, e-commerce, gaming, and AdTech, and some of its top clients are Microsoft, King, and Waze. The top services offered by Anodot include customer experience monitoring, telco network monitoring, revenue monitoring, and partner monitoring. Anodot enables organisations to leverage the transformational power of AI to optimise their business. Anodot’s AI-driven, autonomous business monitoring solution identifies revenue-critical business incidents, providing real-time alerts and forecasts.
- Eightfold.ai: Eightfold Ai was founded in 2016 by world experts in deep learning and is headquartered in Mountain View, California with the mission ” Right career for everyone in the world”. The company delivers a talent intelligence platform to enterprises that manage the whole talent lifecycle. The platform uses AI in the most effective way for organisations to retain top performers, upskill and reskill the workforce, recruit top talent efficiently, and reach diversity goals. Eightfold.ai’s deep learning artificial intelligence platform empowers enterprises to turn talent management into a competitive advantage. In November 2020 company announced, it has raised $125 million in its latest series D funding round and the company valued at 1 Billion making it the latest entrant in the startup unicorn club.