AI is a broad word that refers to a variety of electronic systems. In fact, when someone talks about AI, they could be talking about anything from neural network-powered face recognition to machine learning that predicts the ideal phrase to use in an email subject line. With a slew of innovative startups entering the space, India's AI ecosystem is exploding.
In the last three years, Artificial Intelligence and Machine Learning have experienced a huge increase in funding and invention. Industry, medical, apparel, agribusiness, estate development, speech services, and other industries are now using them. India is currently a country with a solid ecosystem that allows AI startup professionals and entrepreneurs to kick-start their enterprises, thanks to the phenomenal expansion of the AI field.
To improve AI, IoT, data analytics, information security, data science, and robotics, the Indian government upped its investment in Digital India to $477 million. Finance Minister Nirmala Sitharaman announced in the 2019 Union Budget that the country would provide manufacturing training programs in technologies such as AI, Big Data, and robotics to 10 million Indian youngsters.
AI-enabled companies have enhanced every part of life, from medical to agribusiness, boosting the rise of AI companies in India. Let’s take a look at the top 10 Indian AI Startups that are dominating the market.
10 Indian Startups That Are Leading The AI Race in 2021
Avaamo Technologies Private Limited is a private company that was founded on June 25, 2014, but is not publicly traded. It's a private limited business with headquarters in Bangalore, Karnataka. It has INR 1.00 lakh in authorised share capital and INR 1.00 lakh in total paid-up capital. Avaamo is a cloud service that automates the lifetime of Communicative AI. It is a deep-learning software firm that focuses on speech recognition to solve specific, increased enterprise problems. To make interactive computing for the industry a reality, Avaamo is developing core AI technologies in the areas of neural networks, speech synthesis, and deep learning.
Qure.ai was established in 2016 by Pooja Rao and Prashant Warier. The aim of the company is to make healthcare more accessible and affordable by using Ai. Qure.ai uses Machine Learning or convolutional neural networks to construct programs that can detect illness patterns from medical photos. The Machine Learning algorithms developed by Qure.ai are delivered as code that may be used with any X-ray, CT scan, or MRI machine. These aid in the classification of radiography pictures as healthy or unhealthy, the diagnosis of disease, and the identification of defects that could otherwise go unnoticed. The revenue yield for Qure.ai in 2021 is $3.6 million.
Touchkin eServices, Aggarwal's startup, created Wysa in 2016, an AI-powered mental health app. Touchkin eServices has offices in Bangalore, Boston, and London. Wysa is primarily for individuals who simply want to express themselves. Founder claims that the majority of Wysa users are there to better their sleeping, anxiousness, or relations. According to Aggarwal, Wysa isn't meant to be a substitute, but rather an extra tool with which a user can interact on a routine basis. The revenue yield for Wysa in 2021 is $4.56 million.
Yellow.ai is a tele conversational AI solution that helps businesses automate customer encounters, created by Raghu Ravintala, Jaya Kishore Gollareddy and Rashid Khan in 2016. Sephora, Bharat Petroleum, and FoodPanda are just a few of Yellow.ai's clients. By implementing a multichannel chatbot in 100+ languages, businesses can now self-serve 80% of enquiries and boost CSAT by 20%. Yellow.ai and Microsoft teamed up earlier this year to modernise their speech automation service using Azure AI Speech Services and Natural Language Processing (NLP) tools.
Intello Labs has created technological services that analyze and evaluate the grade of vegetables and fruits using artificial intelligence (AI) capabilities such as computer vision and machine learning. It was founded by Devendra Chandani, Nishant Mishra, Milan Sharma and Himani Shah in 2016. It has many big names as its clients such as Reliance Fresh, Dole, and Ocean Spray. The company claims that their technology reduces the amount of food less by digitalizing the quality control process of fruits and vegetables to create an efficient production line, making it less wasteful. Intello Labs’ yearly yield in 2021 is $18 million.
CropIn is a prominent AI and data-driven agri-tech company that uses machine learning to give SaaS solutions to agricultural producers throughout the world. It was founded in 2010 by Krishna Kumar in Karnataka to solve the problems local farmers face like non-availability of finance, climatic vagaries, soil degradation, pest infestation and diseases, operational inefficiencies, and no predictability of yield. The revenue yield for CropIn in 2021 is $27 million.
BASH.ai is an interactive chatbot that uses Machine Learning Models to help employees work more efficiently. It was founded in 2017 by Barkha Sharma and Tanay Dixit in New Delhi-NCR. It uses a rule-based AI powered bot to imitate cognitive activities relevant to the HR function, leading to greater workplace efficiency. Simply put, a regulation bot can assist employees in obtaining information efficiently through a conversational interface, allowing the HR department to focus on more important responsibilities rather than repeating jobs and general requests.
Myelin Foundry develops Artificial Intelligence algorithms on video, voice, and sensor data, for edge devices. It was founded in 2019 by Aditi Olemann, Ganesh Suryanarayanan, Gopichand Katragadda in Bengaluru, Karnataka. Myelin Foundry's deep tech solution transforms sensory interactions and industry outcomes by using Machine Learning techniques on sensor data, speech, and video collected from edge devices. It also provides super HD zero-buffering broadcasting over any channel, reducing time and expense to market even more. The revenue yield for Myelin Foundry in 2021 is approx. $1 million.
Niki is a Bangalore, Karnataka-based artificial intelligence business. Sachin Jaiswal, Keshav Prawasi, Shishir Modi, and Nitin Babel, all IIT Kharagpur alumni, formed the company in May 2015. Niki is a chatbot driven by artificial intelligence that serves as an intelligent personal assistant. Niki provides customers with a chat-based natural language user interface where they may engage with Niki in their own language using natural language processing and machine learning. Niki learns how Indian consumers communicate, deciphers the words in the perspective of services and products they want to buy, and makes appropriate recommendations. It was once only accessible as a mobile app on the Android platform. The business has now extended to include the Facebook Messenger and Apple iOS platforms. The revenue yield for Nikki.ai in 2021 is approx. $25 million.
SigTuple uses cutting-edge machine learning algorithms to create intelligent medical diagnosis solutions. It was founded in 2015 by Apurv Anand, Bharath Cheluvaraju, Rohit Pandey, Tathagato Dastidar in Bengaluru, Karnataka. The business is developing Manthana, an artificial intelligence (AI) system that will aid in the accurate analysis of visual medical data. SigTuple can now function on five main high-volume screening procedures in the healthcare sector: analysis of peripheral blood smears, urine microscopy, semen, fundus, and OCT scans, and chest x-rays, due to Manthana.
In India, artificial intelligence has a bright and interesting future. By 2035, AI has the potential to add $957 billion to the Indian economy, or 15% of its current gross value. Power, retail, manufacturing, medical, education, and agribusiness, for instance, can all benefit from artificial intelligence. These startups have changed the Indian Market and created many new job opportunities for many Indian youngsters.
Is AI a good career in India?
Artificial Intelligence salaries in India are significantly higher than the national average for most AI job categories.
Is AI in demand in India?
Yes, top nanodegree programmes in deep learning and data engineering demonstrate the country's growing interest in artificial intelligence (AI) and data.
What are the advantages of AI?
AI allows previously complicated activities to be completed without incurring huge costs. AI is available 24 hours a day, seven days a week, with no delay. AI improves the talents of people with varied abilities.
Which country is leading the AI race?
The United States is leading the AI race, followed by China and the European Union.
Which are the Startups leading the AI Race in India?
Top 10 Indian Startups leading the AI Race are:
- Intello Labs
- Myelin Foundry
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