Over the past few years, companies and organizations around the world have started to rely heavily on data to drive innovation and growth. Recognizing the potential of data to enhance business decisions, productivity, and overall efficiency, businesses are now leveraging data to accomplish goals that seemed impossible before. Smart appliances powered by IoT, intelligent personal assistants (Alexa, Siri, Cortana), self-driving cars, robots powered by AI, and so much more – all the stuff that seemed the stuff of science fiction earlier has now become a reality, thanks to data and innovative technologies such as Artificial Intelligence (AI), Machine Learning (ML), and Deep Learning.
AI and ML technologies help dive into massive data sets to extract meaningful information from it and convert it into data analytics that can bring value to business organizations. According to International Data Corporation (IDC), by 2020 the global revenue for Big Data analytics will surpass $200 billion. Data Science is playing a significant role in backing these technologies to promote a technological revolution. And thanks to the Internet, you can master Data Science with the help of online Data Science courses.
Today, Big Data analytics has permeated almost every aspect of our lives, thereby encouraging the rapid growth of startups in this arena. Let’s have a look at seven innovative startups that are leading the way in 2018 with their disruptive technological approaches.
Founded in 2015 by a group of four passionate youngsters from IIT Kharagpur, Niki.Ai is a smart shopping assistant powered by AI technology. Niki.Ai utilizes its chatbot SDK platform to fully harness the potential of ML and Natural Language Processing (NLP) to interact with consumers and help them find the ideal products and services that best fit their specific requirements.
At present, Niki.Ai supports firms across various industries including travel, entertainment, daily utilities. Through Niki.Ai you can not only pay bills but also book cab services, order food, recharge your mobiles, to name a few.
Founded in 2012 by Krishnan Raman, Derick Jose, and Srikanth Muralidhara, Flutura is a Bengaluru-based IoT startup that offers big data analytics solutions to companies. By triangulating actionable economic insights from vast chunks of data, Flutura aims to enhance outcomes by monetizing data.
Cerebra – Flutura’s pioneering software platform – offers prognostics and diagnostics be leveraging ML and AI technologies, thereby opening up new opportunities for businesses.
In 2015, Flutura was declared as one of the Top 20 Most Promising Big Data Companies globally by Tech magazine CIO Review.
- Analytic Edge
Analytics Edge was founded in 2012 by Santosh Nair, Vijay Ramaswamy, and Rahul Budhraja. Possessing over 75 years of experience in the field of marketing analytics, the founders launched this startup to offer technologically sound marketing and sales solutions powered by data analytics. By combining industry knowledge with ML analytics, Analytics Edge provides real-time insights to businesses that are both actionable and cost-efficient.
This startup specializes in digital attribution, sales forecasting, marketing mix modeling, pricing & promotion strategy, and customer loyalty analytics. What makes Analytics Edge a leading startup in the industry is their unique cloud-based platform integrated with automated data ingestion technology – a combination that provides real-time insights and allows clients to continually monitor and track the efficacy of their marketing and sales strategies.
CropIn is a Bengaluru-based agri-tech startup founded by Krishna Kumar (CEO), Kunal Prasad (COO), and Chittaranjan Jena (CTO). It offers Saas-based services to agribusiness across the globe. The inspiration to launch this trailblazing startup came when Krishna Kumar witnessed the plight of farmers during the agricultural crisis of 2010 in Karnataka.
CropIn’s innovative software platform leverages technologies such as AI, Big Data analytics, weather analytics, geo-tagging, and satellite monitoring to facilitate interpretation and analysis of agricultural data and extract real-time actionable insights from it. It provides a host of unique agri-tech solutions such as SmartFarm, SmartRisk, SmartSales, Mwarehouse, and AcreSquare.
- Uncanny Vision
Uncanny Vision, another Bengaluru-based startup leads in providing AI-powered surveillance solutions. It has developed a unique SDK platform that boosts the functioning of computer vision algorithms. Uncanny Vision offers innovative products:
- UncannyCV (Computer vision processing library)
- UncannyDL (On-device Deep Learning library for mobile and embedded applications)
- UncannySurveillance ( Award-winning AI-based surveillance solution)
By integrating optimized Deep Learning-enabled vision algorithms into Edge servers, Uncanny Vision designs cost-efficient security solutions for businesses in smart industries. Not just that, the startup also offers data analytics and real-time actionable surveillance solutions for banking and retail industries.
At the Nasscom Emerge 50 Awards 2017, Uncanny Vision was declared as one of India’s Most Innovative Top 50 Emerging Software Product Companies.
- Innefu Labs
Innefu Labs is a Delhi-based startup offering advanced cybersecurity solutions to companies. As technology continues to progress, so do the threats posed by the new age cybercriminals. Taking up this challenge, Innefu Labs has created a patented security solution that uses vision and speech-powered authentication design. The security solution functions something like this – to access a system, the user has to either take a selfie from his/her mobile phone or say a few words. The authentication system then matches the image or voice with the user 3-D modeling image or speech pattern to grant access to the system.
Leveraging AI tech, Innefu Labs’ security solutions also include biometrics authentication, multi-factor authentication, and data analysis to detect and prevent potential cyber threats.
Formerly known as Ma Foi Analytics, Lymbyc (Bengaluru-based startup) was founded in 2012 by Satyakam Mohanty and Ashish Rishi with the aim to develop innovative analytical products that combined advanced technological solutions with data science.
Lymbyc provides businesses with a 24×7 virtual data scientist (known as ‘Lymbyc’) that supports NLP and responds to queries in natural language by providing insightful answers that can allow business leaders to make better decisions. Lymbyc is the world’s first integrated expert system with its flagship querying language MIRA (Machine Intelligence for Research & Analytics). MIRA can not only identify the contextually relevant data but it also simultaneously sets in course such actions as can transform the data into actionable insights.
These are just seven among the pool of inspiring startups that are going to dominate the Indian market scene in 2018. With such pioneering startups, India is all set to snatch the global spotlight in the near future.