5 Israeli AI startups to keep an eye on
With Open-AI's recent breakthrough in natural language processing in the form of GPT-3, the field of AI is seeing renewed hope and investment. With more breakthroughs likely just around the corner, we decided it might be worthwhile to feature some prominent startups working on innovative technology in the machine learning field.
Here are 5 of the most interesting AI focused startups operating in Israel:
Founded in 2016, Aidoc has risen quickly to prominence for its proprietary algorithms which are able to accurately analyze visual medical data. Using deep convolutional neural networks, Aidoc's algorithms reduce the clutter of CT scans and other visual testing methods, allowing the doctor to quickly and accurately assess a patient's test results. With multiple FDA approved treatments, the technology is already proven. In fact, in a clinical study of Aidoc's system it reached 93% sensitivity and 95% specificity respectively, demonstrating excellent results compared with the "gold standard" of radiologist interpretation.
Aidocs technology is now used in more than 300 medical centers, analyzing scans for stroke, embolism, and fracture. With a primary focus on augmenting doctors' ability to examine a scan as opposed to replacing the MDs, Aidoc's technology offers the promise of less medical error and more efficient workflow.
With a headquarters in New York and R&D offices in Tel Aviv, Amenity Analytics is the prototypical example of the modern startup operating in Israel, using the powerful Israeli work pool to fuel a company operating in the cash heavy USA.
Of all the companies on this list, Amenity's offering is perhaps the one closest in base function to the powerful GPT-3, given that both function primarily in the realm of natural language processing. The primary difference is Amenity's much more limited scope: using a variety of technologies, Amenity takes large texts and analyzes them, condensing the meaning and searching for actionable insights. These include things like documenting examples of dishonesty or intentional vagueness by a CEO in a press statement to documenting the perceived change in sentiment of a company over time.
Of particular interest to hedge funds and investment houses, Amenity's technology is already used by Moody's, Citi, CFM, and more.
Most people have already heard of Mobileye, the self-driving technology startup that was scooped up by Intel in 2017 for $15 billion USD. However, with the race to autonomy still very much up in the air, Cortica holds some interesting promise.
Founded by the fusion of a neuroscientist, electrical engineer, and computer science, Cortica's philosophy has been to mimic the natural biological processes of the brain in the hopes of achieving a better vision model. With a patented computer vision platform, Cortica's attempts seem to be coming to fruition. Recently identified by analysts as the top patent holding AI startup, the company is uniquely positioned to bring a non-replicable product to market.
Given that Cortica is one of the few AI companies pushing "unsupervised learning", a technology that drastically increases the potential adaptability of its systems, it is certainly a company worth keeping an eye on.
Using artificial intelligence and some specialized algorithms, Optibus sells SaaS computing solutions to increase the efficiency of public transit systems. Founded in 2014, Optibus is already used in cities around the world, and received the European Commissioner's Seal of Excellence. Dynamically adjusting the schedules of drivers and vehicles to improve the efficiency of the travel network, Optibus promises better insights into any given transit network, and better solutions than possible with normal human analysis.
Recently, Optibus turned its eye toward the flexible vehicle market, planning on competing with the likes of Uber by using its proven tech to significantly decrease the price via efficiency.
Who would have thought ordinary farmers would have any use for AI? Prospera began with a team wondering why neighboring fields, tended by the same farmer using identical methods, could have yields at times tens of percentages apart. This rabbit hole led this quickly growing AI company to develop solutions leveraging big data and machine learning to find ways of creating a more uniform crop yield. With over $5 billion dollars in produce now monitored by Prospera, the company has managed to turn this variance into a quantifiable, actionable metric, bringing with it the promise of a much more efficient farmer.
With investors like Cisco and Qualcomm, and a slew of awards over the past four years, Prospera is one of the most interesting AI companies operating in Israel.