South African Startup, DataProphet, has been named among the 100 most innovative Artificial Intelligence startups by CB Insights.
DataProphet, which enables manufacturers to step towards autonomous manufacturing, was listed among the fourth annual AI 100 ranking, showcasing the 100 most promising private artificial intelligence companies in the world.
“It’s been remarkable to see the success of the companies named to the Artificial Intelligence 100 over the last four years. The 2019 AI 100 saw 48 companies go on to raise $4.9B of additional financing and nine got acquired,” said CB Insights CEO Anand Sanwal.
CB Insights identified top AI companies using patents, customer traction, investor quality, market sizing. In addition to disrupting core sectors including healthcare, retail, and finance, the 2020 AI 100 companies are revamping the broader enterprise tech stack. These companies span the globe, from the US, UK, China, Chile, and South Africa, and are supported by more than 600 investors.
“We’re delighted to be recognized by CBI Insights as one of the most promising AI companies in the world, with only four AI companies in the manufacturing sector selected,” said Frans Cronje, CEO at DataProphet. “We’re committed to helping manufacturers achieve their Industry 4.0 goals and build a solid foundation for autonomous manufacturing.”
Through an evidence-based approach, the CB Insights research team selected the AI 100 from nearly 5,000 companies based on several factors including patent activity, investor quality, news sentiment analysis, proprietary Mosaic scores, market potential, partnerships, competitive landscape, team strength, and tech novelty. The Mosaic Score, based on CB Insights’ algorithm, measures the overall health and growth potential of private companies to help predict a company’s momentum.
DataProphet PRESCRIBE is an Expert Execution System (EES), enabled by AI. DataProphet continuously monitors and prescribes optimal changes to the control parameters of a manufacturing plant to pre-emptively avoid any quality failures in the course of production. This task is beyond the capability of human experts, given the size of the data produced by manufacturing plants and the speed at which they work. Historically the analysis of this data has only been done after a defect has occurred – DataProphet does it before, enabling manufacturers around the world to avoid the cost incurred in defects. DataProphet has proven to reduce defects by 40% on average.
The 2020 AI 100, had, by the end of February 2020 raised over $7.4B in funding across 300+ deals from 600+ unique investors. There are 10 unicorns (companies valued over $1B) in this year’s AI 100 cohort.
The list spans across various industries, including healthcare, retail & warehouse, and finance & insurance.
The AI 100 Companies (in alphabetical order):
Benson Hill Biosystems
Squirrel AI Learning
Zebra Medical Vision