20 Top AI Startups to Watch in 2024

According to AI statistics for 2024, over 77% of companies use or explore AI software in their operations to cut costs and improve productivity. As of August 2024, 91% of well-known companies invest in AI, while 44% of private sector companies plan to invest in this technological invention.

With AI startups having raised approximately $3.6 billion so far, it shows how promising greater returns are to come in the near future. This article shows the top AI startups in the market, their investors, locations, annual revenues, and founders who are changing the world.

What are the Top Upcoming AI Companies?

There are 57,933 artificial intelligence companies worldwide, with 14,700 in the US. These firms explore various applications of AI technology, and here's a closer look at which ones are at the forefront of the industry:

1. OpenAI

OpenAI launched ChatGPT in November 2022, a software that answers questions, translates, and generates texts. Within the first week of its launch, it reached over 1 million signups, a projected $200 million in 2024 and $1 billion by 2024.

Microsoft invested another $10 billion in January 2024 in the startup to accelerate the potential of AI and ensure the benefits are shared with the world.

2. ObserveAI

Observe AI is a voice AI platform that gives agents real-time feedback on customer sentiment and guides them to the next steps during the call. It is a cloud-based customer conversation analytics platform that helps the sales team analyze customer conversations based on their voice, pain points, context, and structure, increasing sales conversion and customer retention.

3. Abnormal Security

Abnormal Security is an email security company that detects and protects against various email compromises, phishing attacks, spam attacks, etc. Its modern architecture and behavioral AI allow it to protect companies from targeted email attacks, protecting your inbound email and collaboration applications like Slack, Microsoft Teams, and Zoom.

4. Eightfold

Eightfold AI is a talent intelligence platform designed to help organizations retain top performers, upskill and reskill the workforce, and recruit top talent efficiently. It transforms how you hire, maintain, and grow a diverse workforce to match people to the right opportunities. The company continuously learns from enterprise and individual performance to predict future roles, performance, and

5. PeopleAI

People AI is a fully integrated generative AI sales solution that helps teams speed up complex enterprise sales cycles by engaging the right people. It automates manual tasks, inspects accounts, and helps teams see who engages within each account and how to deliver the highest deals.

6. Synthesia

Synthesia is one of the top AI video creation platforms thousands of companies use to create videos in 120 languages. Most companies are converting their training, sales, or customer support content to AI video tutorials for their employees and customers. It also transforms your texts into speech or bite-sized videos to improve engagement, conversion, and retention for learning, support, and sales content.

7. JasperAI

Jasper is an AI writing tool that helps businesses create content by creating original, top-notch content in 26 languages. It allows users to develop content for social media marketing, emails, advertising, website design, artistic illustrations, and more. Jasper generates suitable blogs, marketing copy, and product descriptions, has won numerous industry awards, and is rated 4.9/5 in over 3,000 reviews across the web. 

8. Movework

Moverworks is a platform that provides AI-based automation solutions for IT support and helps desk operations resolve workplace requests. This startup platform helps automate IT support tasks, like fixing tickets, answering questions, and provisioning software and hardware. Various industries, including finance, healthcare, and technology, also use the platform to automate IT support.

9. ShieldAI

This company is building an AI pilot called Hivemind, which enables teams of intelligent aircraft to operate on edge in high-threat environments without needing remote operators, command inputs, or GPS. The technology approach is similar to those in the self-driving car industry, which can complete missions from start to finish without an operator or pilot.

10. LandingAI

Landing AI provides deployment-ready AI solutions to help businesses offer end-to-end workflow to build, iterate, and deploy computer vision solutions quickly and easily. Its product, LandingLens, is a data-centric AI computer vision software platform in which companies with limited data sets can realize the business value of AI and move AI projects from proof-of-concept to full-scale production.

11. StabilityAI

Stability AI is the world's leading open-source generative AI company that makes modern AI technology accessible to everyone, especially artists, designers, and anyone looking to take their creativity to the next level.

The platform developed an open-source image-generating AI model called Stable Diffusion to generate stable, high-quality images. Another innovation of stability AI is Dance Diffusion. This model can generate songs and sound effects given a text description of the songs and sound effects in question. Using cutting-edge audio diffusion technology, the Stable Audio generates high-quality music and sound effects.  

12. Viz.AI

Viz.ai strives to improve healthcare by creating AI-powered software tools to reduce systemic delays between patients and life-saving treatments to make healthcare work faster and smarter. The Viz.ai automated CT scan clot detection system improves diagnostic acumen and empowers medical teams to save lives through early detection and care coordination. 

13. Grammarly

Grammarly is a writing assistant and proofreading tool that helps job seekers, writers, and other professionals check their written works' spelling, punctuation, grammar, and sentence structure. It helps to improve the clarity, cohesiveness, fluency, and vocabulary of a write-up. Once integrated into your device, AI-powered suggestions appear wherever you write to improve the correctness, clarity, engagement, and delivery of your writing.

14. CognitiveScale

CognitiveScale is an AI startup improving the financial services industry, backed by over 100 granted AI patents. CognitiveScale sells augmented intelligence software that solves complex business problems at scale for financial services, healthcare, and digital commerce markets. The company's software helps enterprises apply AI and blockchain technology to increase user engagement, improve decision-making, and deploy self-learning and self-assuring business processes.

15. Deep 6 AI

Deep 6 AI is a healthcare AI startup that improves how medical professionals diagnose and treat patients to bring life-saving treatments to patients faster. 

The AI platform helps hospitals, physicians, patients, and pharmaceutical companies analyze clinical data in the clinical trial process. It analyses large amounts of medical data, which helps medical professionals make more informed decisions and improve patient outcomes.

16. Databricks

Databricks is an open data analytics platform that allows users to build, deploy, and share data. This platform integrates with cloud storage and security, managing and deploying your cloud infrastructure without manual interference. Being a unified data platform, it helps you unify data from different sources or types, like engineering, data science, and business analytics, into a single platform. 

17. Adept AI

Adept AI Studies how people use computers, browse the web, and navigate software to train an AI model that can turn text instructions into sets of digital actions. It takes your goals in plain language and turns them into actions on the software you use daily. 

18. Builder AI

Builder.AI is an AI-powered software development platform that helps small, medium, and large-scale businesses create, operate, and scale their software applications. It's designed to help companies to build any app without much technical expertise. Thus, instead of hiring developers or freelancers, they just order the app they need, and the platform builds it.

19. Label Box

Labelbox is an AI platform that is used by businesses to curate data, generate high-quality human feedback data for computer vision, and automate tasks by combining AI and human-centric workflows. It provides fast labeling tools and collaboration features and supports any data type, like images, videos, text, etc. It is also used in the academic & research community for cutting-edge AI research.

20. Vicarious

Vicarious is an AI startup developing cutting-edge technology to improve machine learning and robotics. The company's AI algorithms solve complex tasks, enabling robots to perform more advanced functions. Robotic automation is changing the world economy profoundly, and this effect will only increase as we automate more.

Conclusion

The AI firms mentioned above, and other startups have taken over the face of technology, as the percentage of companies using AI adoption continues to grow as businesses see these significant impacts. Although AI takes over people's jobs, it creates new employment opportunities.

AI start-up funding has increased by 66%, on average, between 2021 and 2024. This increase within just two years is a testament to the rapid pace of innovation and market demand. As a result, the future of AI is very optimistic and will likely continue to grow.

FAQs on Top AI Startups to Look Out for in 2024

How many AI startups in 2024?

There are over 59,000 artificial intelligence companies, with over 14,700 based in the United States.

What is the largest AI funding round in 2024?

The largest AI funding in 2024 is OpenAI's $10 billion investment from Microsoft in January.

What does the future of the AI industry look like?

The future of the AI industry looks very promising. The AI market is expected to grow by $267 billion in 2027, with a 5% increase in AI funding in the first half of 2024, surpassing $31 billion in the 1st quarter of 2024.

Sources:

Tracxn

Growjo

Crunchbase

Pitchbook

Getlatka

CBinsights