Artificial intelligence is everywhere. From medical assistance to self-driving cars to human like robots that can hold intelligent conversations. While the future is obviously very bright for this technology, who exactly is in the forefront of the industry?
Forbes, together with Meritech Capital, has compiled a list of the top US-based AI companies currently in operation. These amazing companies focus on everything from autonomous delivery systems to product failure mitigation and even the tedious task of purchasing home insurance.
Let's take a closer look at some of these companies countdown style, starting with number 10.
Headquarters: Irvine, CA
Founders: Palmer Luckey, Brian Schimpf (CEO), Trae Stephens, Matt Grimm, Joe Chen
Funding: $180 million
Valuation: Just under $1 billion
This company uses tools such as drones and towers to map an area and assess any potential threats. The Marine Corps and UK's Royal Navy, are just a couple examples of Anduril Industries' high-level clientele. Not to mention they have the ever-so controversial "virtual border wall" as part of a contract with the US Customs and Border Protection. Co-founder Palmer Luckey was the center of his own controversy when he made his exit from Facebook. Luckey claimed he was fired unexpectedly due to his political views.
9. Scale AI
Headquarters: San Francisco
Founders: Alexandr Wang (CEO)
Funding: $122 million
Valuation: $1 billion
CEO Alexandr Wang is only 23 years old and is considered somewhat of a tech prodigy. His company, Scale, uses AI to streamline data for transportation companies making their services as accurate and simple as ever. Companies using Scale include Lyft, Cruise, and nuTonomy, who all are in the autonomous driving industry.
Headquarters: Palo Alto, CA
Founders: Assaf Wand (CEO), Eyal Navan
Funding: $209 million
Valuation: $1 billion
Hippo Insurance is changing the way insurance is done. Using data pulled from public records, such as satellite images, news articles and digitized home sensors. This information is then used to by their AI system to preemptively answer questions that otherwise would be asked by the insurance specialist. The main selling point of their model is real-time approvals backed by established insurers. Hippo simply gets a commission from each sale.
7. Icertis
Headquarters: Seattle
Founders: Samir Bodas (CEO), Monish Darda
Funding: $211 million
Valuation: $1 billion
This 10-year-old company focuses on automating administrative tasks. They service over six million contracts from over 90 different countries. Icertis caters to companies like the French company, Airbus, German company, Daimler, and the US's MicroSoft.
6. DataRobot
Headquarters: Boston
Founders: Jeremy Achin (CEO), Tom de Godoy
Funding: $431 million
Valuation: $1.2 billion, via Pitchbook
This eastern seaboard-based company offers customers like United Airlines and PNC Bank a platform that asks, compiles data, and answers any business question they may have. The company boasts of its abilities by insisting that their customers are only required to have "curiosity and data".
5. Dataminr
Headquarters: New York City
Founders: Ted Bailey (CEO)
Funding: $577 million
Valuation: $1.59 billion, via Pitchbook
Dateminr is just what their name implies. Using deep learning, social media posts, and other forms of public data, this company literally mines the internet for information. As new information is found, the company can then send tailored alerts to their monthly subscribers. Dataminr caters to a wide range of clientele. Companies such as CNN and even the UN are subscribed, they use the real-time alerts to track potential disasters in any part of the world.
4. Lemonade
Headquarters: New York City
Founders: Daniel Schreiber (CEO), Shai Wininger
Funding: $480 million
Valuation: $2.1 billion, via Pitchbook
Lemonade is another company streamlining insurance. Unlike Hippo, who is commission based, Lemonade is a licensed carrier and insures its clients in-house. Using an AI chatbot, Lemonade blazes through customer service and processes claims for more than 500,000 customers.
3. Uptake
Headquarters: Chicago
Founders: Brad Keywell
Funding: $258 million
Valuation: $2.3 billion, via Pitchbook
This Midwest company claims "there is no more guesswork or operating blindly involved" in their AI system that "makes sure things work". With an enormous amount of data readily available, Uptake analyzes past machinery failures and implements preventive measures for clients like the US Army and Rolls Royce.
Headquarters: Palo Alto
Founders: Chris Urmson (CEO), Sterling Anderson, Drew Bagnell
Funding: $696 million, via Pitchbook
Valuation: $2.57 billion, via Pitchbook
When experts from three of the world's most prolific autonomy and transportation companies come together under one roof we get Aurora Innovation. The founders were once employed separately with companies like Tesla, Uber, and Google, but now with forces combined they have become nearly the biggest players in the AI industry. Landing contracts with companies like Hyundai helped secure investments from juggernaut companies like Sequoia Capital and Amazon, pushing their valuation well past two billion dollars.
1. Nuro
Headquarters: Mountain View
Founders: Jiajun Zhu (CEO), Dave Ferguson
Funding: $1.03 billion
Valuation: $2.7 billion
And in the #1 spot on Forbes list of the top promising AI companies in the US, its Nuro. This company found a niche and filled it well. Supplying the world with driverless delivery vehicles, Nuro has removed the people factor from the autonomous driving equation and substituted a service that people require; local goods. And in doing so, Nuro bypassed safety and technical restraints. "You can drive more conservatively because you don't have someone inside the vehicle that's getting frustrated," says Dave Ferguson, a co-founder of Nuro. With partnerships with grocery giants like Kroger's, it seems Nuro is definitely on its way to deliver big numbers in the future--and groceries.
To see numbers 11 through 40, you can find the entire list here.
