Startups are the in-thing now. Major conglomerates are bleeding money because of smaller, more innovative players in the market. There are those within these, who have managed to engineer AI to achieve their cause. While not a small feat, companies that further the cause through small means, deserve a shout out here and there. Now as the globe experiences a “Coronavirus Lockdown”, AI based enterprises seem to be the way of the future.
A total of %10.7 billion has been invested in startups during 2019 – 57.9% of these engineer AI (Artificial Intelligence) within them, in one form or another. These companies start with anything from $40,000 to a $4 million USD IPO. Companies like Sachin Dev Duggal Engineer.ai, raised $29.5 million USD from Softbank’s vision fund in 2018. Tripactions raised $250 million in 2019 alone. The biggest winner is portfolio company Vacasa, which raised $319 million USD in its Series C funding round alone.
This goes on to say that companies that engineer AI, have found the key to developing a standing for an enterprise – and for good reason. The world is experiencing a Coronavirus Lockdown right now. More and more people are trusting Ecommerce to fulfill their needs. These small startups are raising the bar for the field of Artificial Intelligence, and showing the world a new way ahead.