While there are now AI companies in almost every industry, some of the best and most successful are moving beyond machine learning (ML) into other areas such as predictive analytics, deep learning, and business intelligence.
Some of the top companies utilizing AI include Microsoft and its significant investment in OpenAI. Mercedes-Benz Group AG is also using AI to continue its heritage of automotive innovation.
The Trade Desk is an American multinational tech company that offers targeted, AI-driven digital ad experiences. Automation Anywhere’s Intelligent Automation combines aspects of AI, process automation, and cognitive technology to handle processes across a variety of industries.
While there are now AI companies in almost every industry, some of the best and most successful are moving beyond machine learning (ML) into other areas such as predictive analytics, deep learning, and business intelligence.
Microsoft has plans to launch an AI version of Bing powered by ChatGPT, and further OpenAI products will likely be incorporated into other aspects of the business. The potential deal was also seen as one way for Microsoft to make Azure more competitive with AWS.
Transportation AI
The Mercedes-Benz Group AG
Mercedes-Benz has a history of automotive innovation and was one of the first companies to use AI to increase safety and comfort. In June 2020, it announced a collaboration with Nvidia for its fleet of premium models.
The autonomous vehicle platform known as DRIVE will be rolled out in 2024. The software-defined architecture will allow the customer to purchase specific features and capabilities – both at the time of purchase and later if their needs evolve.
The benefits of the deal are obvious for Nvidia, but for Mercedes, it will enable the company to build vehicles with one automation platform. In other words, the number of computers required for other functions such as cameras and the cabin entertainment system will be reduced.
eCommerce AI
The Trade Desk
The Trade Desk is an American multinational tech company with a core focus on the delivery of personalized digital experiences to users.
The AI can also adjust bids based on over 10 dimensions for up to three KPIs per campaign. What’s more, it will analyze historical ad prices to choose the most optimal bid for each impression.
Finance AI
Affirm
Affirm is a fintech company that was started in 2012 by PayPal co-founder Max Levchin. The company, which offers point-of-sale loans aimed at millennial consumers, uses AI-based algorithms to underwrite the loan, determine the correct financing option, and rapidly generate the loan terms.
In essence, Affirm’s AI makes thousands of decisions each day on loan applications. Whether the loan is approved or denied depends on the model’s estimate of the likelihood of an applicant repaying the money. This is based on their credit report, transaction information, and how (if relevant) they managed previous loans with the company.
Business processes AI
Automation Anywhere
Automation Anywhere is an American company that offers robotic process automation software to drive innovation, save time, and increase productivity.
The company’s Intelligent Automation (IA) combines artificial intelligence and robotic process automation (RPA) technologies that power end-to-end solutions. Note that IA is more than simply a way to automate processes. It approaches task execution with the analysis and machine learning capabilities of automatic process discovery.
What’s more, the company incorporates cognitive tech such as fuzzy logic, computer vision, and NLP so that AI can reason, make decisions, and learn on the job. Automation Anywhere’s product can be used to reach customers with relatively simple tools like attended chatbots. But it also creates disaster-ready business systems and can automate many financial, HR, clinical trial, product safety, regulatory, accounting, and quality assurance (QA) processes.
Key Highlights
Expansion Beyond Machine Learning (ML):
Leading AI companies are advancing beyond machine learning (ML) and exploring other AI domains like predictive analytics, deep learning, and business intelligence.
Microsoft’s AI Investments:
Microsoft has made significant investments in OpenAI, including a $1 billion investment in 2019 to become the exclusive cloud provider for OpenAI.
Microsoft is reportedly considering an additional investment of $10 billion in 2023 to further enhance its partnership with OpenAI.
The collaboration between Microsoft and OpenAI aims to integrate OpenAI’s products into various aspects of Microsoft’s business, including the development of an AI-powered version of Bing.
Transportation AI – Mercedes-Benz:
Mercedes-Benz has a history of automotive innovation and is collaborating with Nvidia for its fleet of premium models.
The autonomous vehicle platform known as DRIVE, powered by Nvidia’s technology, will be introduced in 2024.
The platform’s software-defined architecture allows customers to purchase specific features and capabilities, reducing the number of computers required for various functions in the vehicle.
eCommerce AI – The Trade Desk:
The Trade Desk is focused on delivering personalized digital experiences through AI-driven advertising campaigns.
The AI tool called Koa analyzes data from over 600 billion daily search queries to optimize and deliver targeted advertising campaigns.
Koa adjusts bids based on multiple dimensions and historical ad prices to ensure efficient ad delivery and performance.
Finance AI – Affirm:
Affirm, a fintech company founded by PayPal co-founder Max Levchin, utilizes AI-based algorithms for underwriting point-of-sale loans.
Affirm’s AI evaluates loan applications, estimates the likelihood of repayment based on credit reports, transaction history, and previous loan behavior.
The AI-driven process helps make thousands of loan decisions daily, determining whether loans should be approved or denied.
Business Processes AI – Automation Anywhere:
Automation Anywhere offers robotic process automation software that combines artificial intelligence and robotic process automation (RPA).
Intelligent Automation (IA) includes machine learning, automatic process discovery, cognitive technologies, and reasoning capabilities.
Automation Anywhere’s IA solutions can automate various processes across industries, including financial, HR, clinical trial, regulatory, and quality assurance processes.
Industry Diversification:
AI is becoming prevalent in various industries, and successful companies are leveraging AI technologies to optimize operations, enhance customer experiences, and drive innovation.
Generalized AI consists of devices or systems that can handle all sorts of tasks on their own. The extension of generalized AI eventually led to the development of Machine learning. As an extension to AI, Machine Learning (ML) analyzes a series of computer algorithms to create a program that automates actions. Without explicitly programming actions, systems can learn and improve the overall experience. It explores large sets of data to find common patterns and formulate analytical models through learning.
Machine learning is a subset of artificial intelligence where algorithms parse data, learn from experience, and make better decisions in the future. Deep learning is a subset of machine learning where numerous algorithms are structured into layers to create artificial neural networks (ANNs). These networks can solve complex problems and allow the machine to train itself to perform a task.
DevOps refers to a series of practices performed to perform automated software development processes. It is a conjugation of the term “development” and “operations” to emphasize how functions integrate across IT teams. DevOps strategies promote seamless building, testing, and deployment of products. It aims to bridge a gap between development and operations teams to streamline the development altogether.
AIOps is the application of artificial intelligence to IT operations. It has become particularly useful for modern IT management in hybridized, distributed, and dynamic environments. AIOps has become a key operational component of modern digital-based organizations, built around software and algorithms.
Machine Learning Ops (MLOps) describes a suite of best practices that successfully help a business run artificial intelligence. It consists of the skills, workflows, and processes to create, run, and maintain machine learning models to help various operational processes within organizations.
OpenAI is an artificial intelligence research laboratory that transitioned into a for-profit organization in 2019. The corporate structure is organized around two entities: OpenAI, Inc., which is a single-member Delaware LLC controlled by OpenAI non-profit, And OpenAI LP, which is a capped, for-profit organization. The OpenAI LP is governed by the board of OpenAI, Inc (the foundation), which acts as a General Partner. At the same time, Limited Partners comprise employees of the LP, some of the board members, and other investors like Reid Hoffman’s charitable foundation, Khosla Ventures, and Microsoft, the leading investor in the LP.
OpenAI has built the foundational layer of the AI industry. With large generative models like GPT-3 and DALL-E, OpenAI offers API access to businesses that want to develop applications on top of its foundational models while being able to plug these models into their products and customize these models with proprietary data and additional AI features. On the other hand, OpenAI also released ChatGPT, developing around a freemium model. Microsoft also commercializes opener products through its commercial partnership.
OpenAI and Microsoft partnered up from a commercial standpoint. The history of the partnership started in 2016 and consolidated in 2019, with Microsoft investing a billion dollars into the partnership. It’s now taking a leap forward, with Microsoft in talks to put $10 billion into this partnership. Microsoft, through OpenAI, is developing its Azure AI Supercomputer while enhancing its Azure Enterprise Platform and integrating OpenAI’s models into its business and consumer products (GitHub, Office, Bing).
Stability AI is the entity behind Stable Diffusion. Stability makes money from our AI products and from providing AI consulting services to businesses. Stability AI monetizes Stable Diffusion via DreamStudio’s APIs. While it also releases it open-source for anyone to download and use. Stability AI also makes money via enterprise services, where its core development team offers the chance to enterprise customers to service, scale, and customize Stable Diffusion or other large generative models to their needs.
Gennaro is the creator of FourWeekMBA, which reached about four million business people, comprising C-level executives, investors, analysts, product managers, and aspiring digital entrepreneurs in 2022 alone | He is also Director of Sales for a high-tech scaleup in the AI Industry | In 2012, Gennaro earned an International MBA with emphasis on Corporate Finance and Business Strategy.
