Machine Learning Startups Impact All Industries

Machine learning is the future. Already, companies are using it to analyse data and statistics, formerly restricted to employees sat at a computer pouring over stats and facts, and trying to make some sense of it all.

According to data collected by CB Insights, the trend of machine learning is inevitable, no matter what field you are in. But particularly with regards to Healthcare, Commerce,  Fintech, and Insurance, something that is hardly surprising, considering the vast amount of information required on a day-to-day basis.

Other fields, such as Agriculture are still some way behind, but with the growth of AI technology, it is only a matter of time before farmers are using machine learning to assist them with predicting weather patterns or analyse previous years’ data to predict how successful their crop yield may be.

One startup in particular, Descartes Labs, is already doing this. Using artificial intelligence along with satellite imagery data to analyse and predict crop yields. Something that has the potential to save thousands of lives by allowing governments to prepare for coming food shortages. By using their three petabytes of data (the equivalent of over 10 years of HD video), in addition to the ten terabytes of data coming in every day they are able to continuously analyse patterns emerging in weather across the globe thereby assisting farmers and, eventually, the rest of the world.

What AI offers, perhaps more than the feeling that we really are living in the future, is the ability for us to save time. By programming machines to identify the smallest details in only a few short minutes, many professions are able to cut time spent pouring over an endless supply of articles to find the specific details and data they need.

Another startup, Oslo based Iris.AI was founded in 2015, has since made waves in the artificial intelligence game by looking to assist scientists with searching for relevant data by picking out keywords and concepts and scouring the vast ocean of scientific information and return only the necessary details. On their website their tech is described as, “You give us one piece of scientific text, and we map out the key concepts of the text, fetch you all the most relevant published research on the topics and present it in a visual format.”

It has been reported that this technology has cut required resources for research from between 30% and 50%, far outpacing the perhaps more well known (and widely more used) Google Scholar.

Whilst most AI companies are based out of the US, there are some across the pond that are also using machine learning to help people track data.

One that stands out the most is Cleo, a UK app that helps you be smarter with your money. Operating like a messaging platform, users can chat with their financial adviser robot to keep track of how much they have spent, what they’ve spent it on and where and, the more you use it the more it recognises your habits and preferences.

Surely, it won’t be long before you pick up a pair of shoes and have your little friend advise that you probably have enough of those already.

This is just the tip of a very intelligent iceberg. On top of these three startups, there is so much more than can, and has been achieved with AI technology. The impact in the robotics field is already changing lives.

Machine learning is covered in more depth in an upcoming episode of Microsoft’s YouTube series, Decoded, where they analyse data for both work and leisure, in addition to exploring many more new and exciting technological opportunities.