Top 10 Computer Vision AI Startups To Watch In 2023
There’s little wonder that artificial intelligence is a hot topic these days- the field has progressed in leaps and bounds over the past decade. Its applications are numerous and span many industries, from the medical field to security to food processing, and it has allowed the upgrading of traditional business models to models that increase productivity and profits.
Forbes summarises it as “the automation of human sight”. Essentially, it is the eye of the AI ecosystem, enabling the computer to make sense out of visual data, and act or react in the appropriate manner. It’s clear that computer vision is the cornerstone of any AI that interacts with our environment, and the commensurate growth of the computer vision field bears testimony.
Computer vision is a field of artificial intelligence that focuses on enabling computers to understand and interpret visual information, similar to human vision.
It has a wide range of applications across industries such as healthcare, automotive, retail, and surveillance. Computer vision enables tasks such as medical image analysis, object recognition, augmented reality, and visual surveillance, among others. Its goal is to extract meaningful insights from images or videos to enhance decision-making and automate processes.
Computer vision finds applications across various industries. In healthcare, it aids in medical imaging, disease diagnosis, and surgery assistance. In retail, it enables product recognition, visual search, and virtual try-on. In surveillance, it enhances security and monitoring systems. Other applications include robotics, quality control in manufacturing, augmented reality, and video analytics. The versatility of computer vision allows it to address a wide range of challenges and contribute to advancements in multiple domains.
One notable example of computer vision is its application in autonomous vehicles. Computer vision algorithms enable vehicles to perceive their surroundings and make decisions based on visual data. This includes detecting and tracking objects like pedestrians, cyclists, and other vehicles, reading traffic signs, and recognizing road markings. Autonomous vehicles rely on computer vision to navigate safely and make real-time decisions, paving the way for self-driving cars and advancing the future of transportation.
Computer vision tools refer to software libraries, frameworks, and platforms that provide developers with the necessary tools and resources to implement computer vision algorithms and applications. These tools often include pre-trained models, image processing functions, and APIs for easy integration. Popular computer vision tools include OpenCV, TensorFlow, PyTorch, and Caffe. They empower developers to work with visual data, extract features, perform image analysis, and build computer vision applications efficiently.
A computer vision company specializes in developing and deploying computer vision solutions for businesses and organizations. These companies leverage their expertise in algorithms, machine learning, and image processing to create custom computer vision applications tailored to specific industry needs. They work with clients to address challenges such as object recognition, image analysis, and visual data interpretation. Computer vision companies play a crucial role in enabling businesses to leverage the power of visual data for improved decision-making, automation, and innovation.
There are an estimated 1,700+ computer vision startups in the market today. Among these are a few brilliant stars we all should be keeping an eye on in 2022:
Based in London, Hummingbird Technologies is a startup focused on agriculture, specifically the sustainability of global food production. They provide on-demand aerial image capture and processing as well as data analytics. They make use of both drone and satellite imagery in their services, providing their clients with information to keep track of key metrics on a large scale.
Argo Ai describes itself as a company that exists to make ‘streets and roadways safe, accessible and useful for all.’ It offers products and services for autonomous vehicles including software, hardware, cloud support and maps. Both Ford and Volkswagen have invested into this unicorn, and its technology is featured in vehicles from both manufacturers.
Does checkout line-free shopping sound appealing to you? If so, you should be tickled to know that a number of startups have their hats in the ring, the most popular of which is Grabandgo. As the name implies, this startup provides an automated checkout service which automatically detects the items you pick as you shop. When you’re done, you can just leave- and receive your receipt electronically. Innovative? Certainly.
Even insurance companies need AI, and Tractable provides a vital service in this field. They are able to generate near-instant damage estimates after the unfortunate occurs- a car accident, a storm or some other natural disaster. This greatly reduces the human error involved in such calculations, and in addition, reduces the waiting time for the client. A win-win all around.
Touting their service as the premier intelligent, adaptive and software configurable LiDAR, AEye is certainly ahead of the game when it comes to what the autonomous vehicle industry calls perception technology. Their proprietary iDAR system combines computer vision and LiDAR in autonomous navigation and driver support systems, rendering them a leader in innovation in their field.
Visual monitoring is the crux of security, so adapting computer vision to enhance already existing security measures was a natural progression. Athena utilises a network of hardware and software, including cameras to detect elevated temperatures, aggressive actions and weapons such as guns and knives; and notifies authorities of these threats.
AI is fast becoming essential in the medical field and Mojo is one of the startups at the forefront. Developed for semen analysis, the AI carefully examines semen samples microscopically for their number, size, shape among other characteristics. In the delicate field of infertility and sexual health, eliminating human error is essential for the utmost wellbeing of each client.
Wobot provides the convenience of an autonomous process monitoring platform that can track tasks, monitor compliance with existing protocols and allow viewing of all live streams and recorded events on a single platform. Safety, security, hygiene and customer protocols can all be tracked through this platform, empowering businesses to act on real-time insights.
In just a few years, Ubble has made a name for itself in the online security field. With real time video recognition, their platform aids in identity verification and protection. Their service is fast and secure and, as some have described it, frictionless. It has even been said to be more secure than a face-check in real life. The modern age necessitates us using our civil identities on the internet, Ubble aims to sustain trust and security as we do so.
Skydio attained unicorn status in 2021. The American drone manufacturer is a leader in autonomous drone technology which utilises computer vision to intelligently dodge obstacles and follow its operator- all without GPS. The worlds’ most intelligent drone’, as the manufacturer calls it, has seen a variety of use, from sports recording to military action and surveillance.
As fantastic as these applications of computer vision are, they would not be possible without training of computer models with high quality datasets from experienced annotation service providers.
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A complete state of the art where we review how computer vision works, the different techniques used, the main multi-sector use cases and the challenges ahead.
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