Artificial Intelligence (AI) refers to the replication of human intelligence in machines to make them think like humans. It is among the fastest-growing fields and is referred to as the ‘hottest job’ in the 21st century. With the rising demand for artificial intelligence services, this could be the perfect time for you to join the field and make a startup of your own. This article will take you through top artificial intelligence startup business ideas.
Artificial Intelligence Healthcare Startups
Artificial intelligence has been instrumental in improving healthcare systems the world over. Doctors are using modern technology for advanced x-ray scanning, retinal scans, advanced screening etc. AI also helps them diagnose and determine when patients are deteriorating. Consequently, doctors can take the best cause of action to prevent the loss of lives. With the emergence of fatal diseases and infections, the use of artificial intelligence in healthcare systems will help to make an accurate diagnosis and timely treatment of diseases. This will, in turn, increase life expectancy. Venturing into this field can be highly lucrative as you help save lives.
Artificial Intelligence Fintech Startups
With the rising popularity of fintech startups, incorporating artificial intelligence in fintech can be the real catch since payment methods need both speed and security. If transactions are made easy and security guaranteed, you will retain your customers and increase profits. Artificial intelligence is used in data models to help advice clients, assist in transactions, and finance management. Almost everything involves finances; therefore, investing in this industry is, without doubt, an excellent idea.
Artificial Intelligence Agricultural Startups
AI agricultural startups mainly use machine learning algorithms on soil data, satellite data, crop yield models and farmer behaviour. Farmers use the data collected to manage their farms and improve different aspects of their farming activities. Since agriculture is among the most important economic activities in Africa, investing in the agricultural sector is highly lucrative. Adding artificial intelligence technology in your area of expertise will take your profits to the next level.
AI Marketing Startups
Marketing is a vital component for the success of any business. Entrepreneurs work tirelessly and invest heavily in marketing their products and services. It is also a business aspect that requires high levels of experience for success. But just as humans tend to make plenty of mistakes, success is not always guaranteed. As such, including AI technologies in marketing strategies will double the chances of success. With an advanced marketing strategy that involves AI, clients will have more confidence in your products and services. This said, investing in AI marketing startups can be the real deal.
Artificial Intelligence Home Manager Startups
With people having busy schedules, home automation is increasingly becoming popular as millions of people are purchasing smart home devices to help them manage their homes from wherever they are. Infusing AI in home management systems makes the whole home management process easy and convenient.
AI-Based IT Services, Cybersecurity, and Security Startups
Companies invest heavily on security, network infrastructure, and IT solutions. Incorporating AI and machine learning in these systems will ensure efficiency and save on costs. Artificial intelligence and machine learning can be added to hyper-converged infrastructures, and you can also build conversational interfaces on AI platforms to power voice assistants and next-generation chatting apps.
Additionally, AI can find anomalies indicating a possible threat to a specific secure area. With this, people can easily fix the potential threat and hugely save repair and replacement costs. In the case of cybersecurity, AI and machine learning can predict and show software vulnerabilities. Company owners can use this to prevent possible hacking, and it, in turn, builds customer confidence in the company’s management system.
AI-Based Retail Startups
The retail industry can adopt artificial intelligence for a variety of purposes. Being convenient, shopping apps are popular globally. Retail companies can use AI for facial recognition and as a virtual assistant for product selection. Consumers need an easy personalized shopping experience. Therefore, using deep learning combined with artificial intelligence will make this possible.
AI-Based Learning Apps and eLearning Startups
Machines can form mental pictures, map data and read text faster than human beings. Many companies are adopting the use of AI and machine learning apps to help researchers to read and understand science-related data and publications quickly. With an increased reading and learning speed, researchers can discover cures for diseases quickly and develop treatments.
The artificial intelligence technology can also be incorporated in learning. With the increased thirst for knowledge, teachers cannot reach and tend to all students given that individual students have different learning capabilities. An AI can be used to identify the style in which a student learns best and help to formulate individualized lesson plans which will help them overcome challenges of a normal classroom. Artificial intelligence education startups can be highly profitable if you have investment capital.
Leading Artificial Intelligence Startups in Africa
Even with the existing challenges that hamper AI development in Africa, several startups are already making a difference in the continent. These are some of the leading artificial intelligence startups in Africa.
Kudi is a Nigerian startup founded in 2016. Kudi is a fintech startup that has developed a chatbot for bill payments and money transfers through phone networks rather than data connections. The platform has helped many Nigerians access financial services since only around 39% of Nigerians can access the internet.
Diagnosify is an artificial intelligence medical startup in Ghana that aids patients with proficient diagnosis and treatment of skin diseases. Diagnosify uses AI to diagnose skin diseases, predict the name of the disease, give its severity, and propose pharmaceutical services.
GotBot is a South African AI startup based in Johannesburg, founded in 2016. GotBot is an AI chatbot solution that offers services to its customers through WeChat, Twitter, Facebook Messenger, SMS, and Skype. GotBot also lets its customers make purchases through Facebook Messenger.
Apollo Agriculture is a Kenyan startup founded in 2016. It uses machine learning algorithms on soil data, satellite data, farmer behaviour, and crop yield models which it uses to advise farmers on the best cause of action. Apollo Agriculture also offers insurance and credit lines to farmers who can buy high-quality farm inputs with flexible post-harvest repayment terms. This startup has helped to develop Kenyan agriculture.
iCompass is a Tunisia-based AI startup founded in 2019. The startup uses an innovative language processing technology that makes it possible to process African and Arabic dialects. iCompass uses technologies such as Chatbot, churn identification, and digital reputation and analysis to assist their clients with their digital strategic plans, marketing, and communication.
WideBot is an AI startup founded in Egypt in 2016. It is a commercial chatbot platform with chatbots that can understand all Arabic dialects. These chatbots will segment users for targeted broadcasts, allow online payments, and provide usage analytics.
With these excellent artificial intelligence startup business ideas, it is evident that tech-savvy entrepreneurs have joined this space and more are still joining. The opportunities are immense. With some artificial intelligence skills and knowledge, you can create your own AI startup and enjoy the profits as you help to make the world a better place.