When Massachusetts Institute of Technology dropout Alexandr Wang made the Forbes 30 Under 30 Enterprise Technology list in 2018, his startup Scale used artificial intelligence to begin automating tasks like image recognition and audio transcription. Back then, its customers included GM Cruise, Alphabet, Uber, P&G and others Now Wang, 25, is the youngest self-made billionaire. And while he still partners with buzzy companies, today he’s got $350 million in government defense contracts. This has helped Scale hit a $7.3 billion valuation, and give Wang a $1 billion net worth (as he owns 15% of the company). Scale’s technology analyzes satellite images much faster than human analysts to determine how much damage Russian bombs are causing in Ukraine. It’s useful not just for the military. More than 300 companies, including General Motors and Flexport, use Scale, which Wang started when he was 19, to help them pan gold from rivers of raw information—millions of shipping documents, say, or raw footage from self-driving cars. “Every industry is sitting on huge amounts of data,” Wang says, who appeared on the Forbes Under 30 list in 2018. “Our goal is to help them unlock the potential of the data and supercharge their businesses with AI.” Read the full story on Forbes: https://www.forbes.com/sites/colehorton/2022/05/25/the-new-youngest-self-made-billionaire-in-the-world-is-a-25-year-old-college-dropout/?sh=180cf292494b&utm_source=newsletter&utm_medium=email&utm_campaign=under30&cdlcid=5cc06ab31802c8c524853545 Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1 Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes: http://forbes.com Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on [More]
This is the Forbes AI 50 List of the most promising privately-held AI companies in the US. AI stands for artificial intelligence. But the acronym can sometimes be used to describe augmented intelligence. Augmented intelligence is when a machine demonstrates intelligence that helps people’s intelligence out. An example of this is GPS — Google Maps doesn’t drive for you, but it’s smart enough to help you navigate to where you want to go augmenting your own driving abilities. This year’s list is full of startups augmenting human intelligence. Here are five examples of augmented intelligence on this year’s list. Read the full story on Forbes: Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1 Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes: http://forbes.com Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
The mad scramble to adopt Artificial Intelligence amid the Covid-19 crisis is officially old news. We interact with AI as seamlessly as we do our smartphones, through voice assistants, customer service, automated tasks, self-checkout, fraud detection, in healthcare decisions and infinitely more invisible applications that affect our daily lives. Investments in AI research and applications are set to hit $500 billion by 2024, according to research firm IDC. And PwC predicts AI will contribute $15.7 trillion to the global economy by 2030. With all that money flowing, it can be hard to figure out what the coming thing is, but certain trends do emerge. Our fourth annual AI 50 list, produced in partnership with Sequoia Capital, recognizes standouts in privately-held North American companies making the most interesting and effective use of artificial technology. This year’s inductees reflect the booming VC interest as well as the growing variability in AI-focused startups making unique uses of existing technologies, others developing their own, and many simply enabling other companies to add AI to their business model. Read the full story on Forbes: https://www.forbes.com/sites/helenpopkin/2022/05/06/ai-50-2022-north-americas-top-ai-companies-shaping-the-future/?sh=6a3aef2934b5 Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1 00:00 Introducing The Forbes AI 50 List 00:53 AI 50 Selection Process 01:15 What Is Artificial Intelligence? 02:08 Industry Trends And The Implementation Of AI 03:37 Companies Featured On The AI 50 List 04:52 What Makes AI So Valuable For A Company? 06:35 Broad Trends In AI Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes [More]
Forbes’s Thomas Brewster wanted to know just how secure facial recognition technology is today and how easy it would be to trick the system. With 3D printed head in hand, it’s a pretty easy feat. Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1 Stay Connected Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes: http://forbes.com Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
The Pentagon’s research arm has pumped $1 million into a contract to build an AI tool meant to decode and predict the emotions of allies and enemies. It even wants the AI app to advise generals on major military decisions. DARPA’s backing is the starting pistol for a race with the government and startups to use AI to predict emotions but the science behind it is deeply controversial. Some say it’s entirely unproven, making military applications that much riskier. The previously-unreported work is being carried out under a DARPA project dubbed PRIDE, short for the Prediction and Recognition of Intent, Decision and Emotion. The aim is to create an AI that can understand and predict reactions of a group, rather than an individual, and then offer guidance on what to do next. Think of a military leader who wants to know how a political faction or a whole country would react should he or she take an aggressive action against their leader. In PRIDE, the emotion detection is not for an individual. It’s more as a collective group and even at a national level,” says Dr. Kalyan Gupta, president and founder of Knexus. “To think about, you know, whether a nation state is either angry or agitated.” And it’s no small fry initiative; the plan is for PRIDE to provide recommendations for “international courses of action,” according to a contract description. Whilst DARPA’s project is largely looking at sentiment elicited from text and information posted online, a handful of startups, [More]
The Forbes AI 50 list highlights the most promising private companies in the U.S. and Canada using artificial intelligence in meaningful ways and demonstrating real business potential from doing so. They span industries including construction, manufacturing, healthcare, business and customer services, transportation, cybersecurity, finance and maritime logistics. Finalists were culled through a submission process that asked approximately 700 companies to provide details on their use of AI-enabled technology, business model, customers and financials including fundraising, valuation and revenue history (companies had the option to submit information confidentially, to encourage greater transparency). Forbes received nearly 400 submissions by the deadline. From there, Konstantine Buhler and our data partner Sequoia Capital, with assistance from Meritech Capital, crunched the numbers and ranked companies based on metrics such as revenue gains, customer statistics, historical funding and valuation. A panel of expert AI judges evaluated 100 finalists to find the 50 most compelling companies. (They were precluded from judging applicants in which they might have a vested interest.) In addition to identifying companies that show traction and financial promise, the list is on the lookout for companies finding novel uses for AI and that prioritize diverse teams. That’s crucial as problems arise in the absence of diversity. Read the full profile on Forbes: https://www.forbes.com/sites/alanohnsman/2021/04/26/ai-50-americas-most-promising-artificial-intelligence-companies/?sh=9e323c77cf13 Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1 Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes: http://forbes.com Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus [More]
The Covid-19 pandemic was devastating for many industries, but it only accelerated the use of artificial intelligence across the U.S. economy. Amid the crisis, companies scrambled to create new services for remote workers and students, beef up online shopping and dining options, make customer call centers more efficient and speed development of important new drugs. Even as applications of machine learning and perception platforms become commonplace, a thick layer of hype and fuzzy jargon clings to AI-enabled software.That makes it tough to identify the most compelling companies in the space—especially those finding new ways to use AI that create value by making humans more efficient, not redundant. With this in mind, Forbes has partnered with venture firms Sequoia Capital and Meritech Capital to create our third annual AI 50, a list of private, promising North American companies that are using artificial intelligence in ways that are fundamental to their operations. To be considered, businesses must be privately-held and utilizing machine learning (where systems learn from data to improve on tasks), natural language processing (which enables programs to “understand” written or spoken language) or computer vision (which relates to how machines “see”). AI companies incubated at, largely funded through or acquired by large tech, manufacturing or industrial firms aren’t eligible for consideration. Our list was compiled through a submission process open to any AI company in the U.S. and Canada. The application asked companies to provide details on their technology, business model, customers and financials like funding, valuation and revenue history [More]
Artificial intelligence is beginning to be usefully deployed in almost every industry from customer call centers and finance to drug research. Yet the field is also plagued by relentless hype, opaque jargon and esoteric technology making it difficult for outsiders identify the most interesting companies. To cut through the spin, Forbes partnered with venture firms Sequoia Capital and Meritech Capital to create our second annual AI 50, a list of private, U.S.-based companies that are using artificial intelligence in meaningful business-oriented ways. To be included, companies had to be privately-held and focused on techniques like machine learning (where systems learn from data to improve on tasks), natural language processing (which enables programs to “understand” written or spoken language), or computer vision (which relates to how machines “see”). The list was compiled through a submission process open to any AI company in the U.S. The application asked companies to provide details on their technology, business model, customers and financials like funding, valuation and revenue history (companies had the option to submit information confidentially, to encourage greater transparency). In total, Forbes received about 400 entries. From there, our VC partners applied an algorithm to identify the 100 with the highest quantitative scores and then a panel of eight expert AI judges identified the 50 most compelling companies. Read the full profile on Forbes: https://www.forbes.com/sites/alanohnsman/2020/07/03/ai-50-americas-most-promising-artificial-intelligence-companies/#6244263a5c99 Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1 Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes: http://forbes.com Forbes [More]