I recently reviewed 350 companies from 50 countries (and 35 states) for Capital Innovators' most recent round of applications for our Spring 2017 Cohort. I walked away impressed with our progress in Artificial Intelligence ("AI") technology.
Here’s a sampling of what I learned:
But what do they actually mean?
It seems that every company attempts to implement AI in one way or another. It only works when actual value in the technology exists—and not just flashy verbiage.
The attractive use cases range from (a) identifying diseases far earlier than current medical technology allows to (b)eliminating entertainment agents to source roles for emerging actors/actresses (and everything inbetween). It's truly remarkable at the pace in which this technology develops.
The likely big winners in this space will be individuals who do more than just create the tech; it will be those who also provide real, revenue generating businesses.
This will give venture capitalists the opportunity to increase investment in these companies. With an influx of $50 Billion in investment coming from SoftBank in the coming years for tech startups in the U.S., some of this technology may progress more rapidly than predicted.
I'd recommend keeping a close eye on the new use cases for AI to stay ahead of the curve in your profession**.
A recent investment in the Artificial Intelligence space is the Natural Language Processing company called Semantix.
Semantix's core technology is a superior AI system that extracts information from text. This could provide value in the massive business data market. The traditional machine learning approach for knowledge extraction is extremely manual and requires individuals to label thousands of training examples.
Semantix combats machine learning through a unique patent-pending AI technique to read and understand the web. It builds a powerful knowledge base so it can answer direct questions for its users.
It's an extremely complicated task for machines to read and truly understand people's questions. Machines must decifer the text-based aspect of a query but also evaluate other scenarios and the intent of the question. This is no easy process, and I'm confident that Semantix will continue on their growth trajectory and create value for a plethora of industries with their tech and provide robust returns investors.
AI will provide one of the biggest shifts on the planet in the coming years. It will disrupt the job market in almost every industry—requiring workers to shift their skill sets and/or learn new skills (or risk being replaced).
This isn't something that should be feared. Instead, we should embrace it. We're on the cutting edge of an amazing new world where humans and technology interconnect even more and enjoy symbiosis. Society will take massive, and necessary, leaps in innovation and refocus on paving the way for a newer, better civilization.
**This includes legal protection. For more information, check out this Legal Issues for Innovators & Inventors webinar. ?
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