AI empowers a business with the latest technology and uses analytical tools for decision-making. Startups need artificial intelligence to compete with brands that are already popular in the market. Here, we’ll discuss the top companies offering AI product development for startups.
Artificial intelligence is disrupting every industry. Businesses around the globe are revamping their systems and processes to adopt the latest technologies to survive the ever-changing competitive markets. Organizations are either planning to digitally transform or have already invested in the process.
This makes it crucial for startups to include AI in their business model. Harnessing AI’s potential will be the deciding factor for many businesses. The global AI market is expected to grow by a CAGR (compound annual growth rate) of 36.38% from 2023 to 2030.
Another report says that the growth of AI startups has increased fourteen-fold since 2000. Moreover, 84% of senior leaders consider artificial intelligence essential to achieve business growth. The statistics reflect the increasing demand for AI in various industries. It’s not surprising that many startups ask questions like what is AI and how can it help their business.
In this blog, we’ll read how artificial intelligence can redefine your business and streamline internal processes, including product development.
Yes! Artificial intelligence is already revolutionizing product development by eliminating unwanted steps, optimizing resources, automating recurring tasks, and enhancing quality. In fact, AI product development tools can be used at every stage of product development, from ideation to delivery. Here’s how:
DataToBiz is a leading artificial intelligence company with clients from several industries. The company offers AI product development for startups, SMBs, MSMEs, and large enterprises in different continents. It helps business organizations unlock the power of data and use its true potential to achieve long-term goals.
The award-winning company has many experienced AI engineers who worked on numerous projects of various complexities. With over 97% project satisfaction rate, the company provided a plethora of AI and ML solutions for 300+ firms. DataToBiz provides tailor-made AI services based on the client’s requirements. Be it platform and dashboard customization to pilot implementation, consulting, big data analytics, data engineering, digital transformation, and much more, the company knows how to handle the challenges faced by organizations.
It also provides affordable and cost-effective AI services for startups to help them gain a competitive edge among established businesses. The company is a certified partner of Microsoft, Google, and AWS and offers extensive cloud solutions. The team also builds and deploys large language models for generative AI-based applications.
Prosodica is among the AI app development companies that focus on using the latest technologies in customer service. The company offers enterprise-grade analytics for speech and voice to help businesses understand conversions with customers and derive actionable insights. It has an AI platform to humanize the call center experience and help clients build a deeper and meaningful connection with customers. The platform works in four effective steps – collecting conversational data, running voice and speech analytics, deploying ML models to detect patterns, and providing solutions to reduce failures.
Prosodica’s conversation analytics platform can be integrated with various apps and software to streamline data flow. It offers future-proof technology and solutions to ensure organizations stay in tune with their customers’ needs. The company also helps boost ROI by enhancing customer experience. Simultaneously, it promotes employee performance by reducing stress caused by dealing with user complaints. The company’s solutions are used in various industries like healthcare, hospitality, financial services, etc.
DataVisor is an AI product development team that provides real-time insights about fraudulent transactions. It uses applied machine learning capabilities to help businesses keep their clients safe from cyber abuse and fraud. The company has developed AI products to effectively handle modern-day fraudulent tactics and adopt preventive measures with agility. It has been recognized as the Best Transaction Fraud Monitoring and Decisioning Solution in the Datos Insights’ 2023 Fraud & AML Impact Awards.
DataVisor’s fraud and risk management platform helps mitigate cybersecurity concerns in real time. The company works with establishments from the finance, banking, FinTech, credit unions, and digital payment industries. From managing application fraud to preventing transactional fraud (wire transfer, check, etc.), the company offers consistent results and complete control to businesses. The AI platforms can be customized and aligned to suit the organization. The platform is hyper-scalable, easy to use, and has low latency.
Convr is an AI-driven modern underwriting platform developed for insurance companies to enhance and automate their core internal processes. The company is founded by underwriters with vast industry experience to provide a reliable solution for insurance providers in the market. The company calls its platform a tool for underwriting on steroids. It is a modularized AI-powered underwriting and data analytics platform that also provides business classification and risk scores.
Convr aims to solve the five biggest problems faced by commercial insurance companies- submission management, accurate business classification, gathering business information, identifying submission Q&A, and evaluating risk quality. It reduces 70% application questions and increases efficiency by 130%. The platform works by combining submissions with the best data sources to deliver reliable insights. The platform promotes transparency and speed. It can be used as an independent tool or integrated with third-party apps.
People.ai is an AI development company offering an enterprise revenue intelligence platform with its patented technology. It helps businesses speed up their sales cycles and to engage with the right audience at the right time. The company helps accelerate growth, innovation, and revenue. It provides the necessary insights for sales teams to focus on the right audience instead of chasing the wrong crowd. This reduces expenses while ensuring that interested leads are not ignored or forgotten.
People.ai believes that the customer is everything for a business. It also feels that every problem has a solution. The company’s approach to this is quite simple. It follows a customer-centric approach to understand what the issue is and find a solution accordingly. The company has a presence in industries like IT, life sciences, telecommunications, and manufacturing. It provides different platforms/ solutions for sales, marketing, revenue, and operations departments.
AI development for mobile apps or web apps can be highly effective and deliver great results. Artificial intelligence can be used to enhance user interface and user experience by bettering the product in different stages.
Follow the below steps to build an AI startup app for your startup.
Artificial intelligence has become a catchphrase everyone likes to use. But what does it mean? How can it help your startup? Find answers to these questions. Make detailed notes about how AI can be beneficial for your business and how you can implement it within your budget. Understand what AI can and cannot do.
What is your business model? Many startups have limited finances and constraints that need careful consideration. What kind of business structure do you want to adopt? Will it be product-based, platform-based, consultancy, or a combination of two or more?
Successful AI startup app development needs a reliable and experienced team. You need AI and ML engineers, software developers, data scientists, data analysts, etc., to work together. Build a team before you implement your ideas. You can also partner with AI product development companies to accelerate the process.
Focus on building an agile, flexible, and scalable IT infrastructure with AI tools and applications. Many startups prefer IaaS (infrastructure as a service) and cloud-based solutions as they reduce the need for physical space and allow teams to work remotely.
The success of your startup depends on how well you market your offerings. Do you know who your target audiences are? How are you connecting with them? What are your short-term and long-term marketing plans?
If you haven’t done this already, it’s time to collaborate and partner with AI service providers. They have the necessary experience to guide startups and established businesses in building and using AI products.
Artificial intelligence is reshaping product development and app design in several ways. Developers and startups can be more creative and innovative with their product designs. It increases efficiency and optimizes the use of resources to deliver enhanced customer experience.
As AI evolves, it will have a greater role in promoting technological adoption and creating a competitive market for startups, emerging businesses, and popular brands. Talk to us to hire affordable AI app development and end-to-end services for all your business needs.
Fact checked by –
Akansha Rani ~ Content Creator & Copy Writer
Sunaina Meena ~ Digital Marketing Specialist
Data Engineering
AI & Machine Learning
By Use Cases
Business Intelligence & Tableau
