Some of the most innovative advances in AI are not taking place in the US; there are some powerful incubators all through Europe and places such as Israel. In fact, six of the most impressive new AI startups are all based in Austria!
Those that follow the IT industry have long pointed out that Austria has been the up-and-coming “Silicon Valley” of Europe, attracting very high-caliber talent and enabling some impressive AI startups. Here are six quite noteworthy AI startups that are located in Austria.
Adverity, founded in 2015, assesses and visualizes expenses, performance, and returns. The program integrates campaign data from hundreds of data sources, including LinkedIn, Google Ads, and Facebook, before sending the findings to business management systems via native connectors. According to Marktechpost, the California-based AI news hub, the platform is used by well-known companies like Red Bull, IKEA, and Zurich Insurance and is accessible to agencies, brands, and e-commerce providers.
Also established in Austria, Robart provides full AI navigation solutions for mobile robots, including hardware, software, and connected IoT applications such as your robotic vacuum and similar devices. Using Robart’s solutions, robots can map a whole home, categorize it into rooms, design particular cleaning procedures, identify deviations like an open window, learn user patterns, and adjust to changes in user habits.
Cortical.io provides free access to rudimentary tools like term disambiguation, text comparison, and keyword extraction on its website. The developers claim that such tools can reduce the time-consuming task of reviewing complex documents such as legal contracts by as much as 80%.
4. Medicus AI
Medicus AI created a medical app that explains and analyzes blood tests and medical reports and gives customers individualized healthcare recommendations in line with its results. Like Adverity the company was also founded in Austria in 2015. Medicus AI supports hospitals, diagnostic labs, and other healthcare facilities by improving interactions with patients by providing simple-to-understand health reports, guiding patients through disease treatment and prevention, as well as providing remote monitoring of patient behavior to ensure compliance and enhance long-term health outcomes.
Austria-based Semanticlabs creates tools for large-scale data analyses, such as semantic algorithms. The company has developed out-of-the-box solutions for collaborative document management, automated tagging, and topic extraction from text using techniques for natural language processing. According to Marktechpost, their customers include Kronen Zeitung, the largest newspaper in Austria, and Erste Group, one of the largest financial service providers in Central and Eastern Europe.
6. Scarlet red
Scarletred is another AI healthcare solution designed to improve diagnostics, in this case, for the remote detection of various skin disorders. The company was founded in 2014. The platform comprises a web tool for picture processing, an iOS app, and a skin patch that calibrates photographs for different light and distance situations. Patients upload a photo of the region being examined and their skin tag to their healthcare provider’s online portal using the iOS app. The automated skin area analysis is then performed by the web-based analytical platform using computer vision.
How BigRio Helps Facilitate Investment in AI Startups
Like the agencies and investors who are helping places like Austria become hubs of AI innovation, BigRio is also a powerful facilitator and incubator for AI startups in the US and around the world. We specialize in bringing healthcare AI solutions such as Medicus AI and Scarletred mentioned above to market.
We like to think of ourselves as a “Shark Tank for AI.”
If you are familiar with the TV series, then you know that, basically, what they do is hyper-accelerate the most important part of the incubation process – visibility. You can’t get better visibility than getting in front of celebrity investors and a TV audience of millions of viewers. Many entrepreneurs who have appeared on that program – even those who did not get picked up by the sharks – succeeded because others who were interested in their concepts saw them on the show.
At BigRio, we may not have a TV audience, but we can do the same. We have the contacts and the expertise to not only weed out the companies that are not ready, as the sharks on the TV show do but also mentor and get those that we feel are readily noticed by the right people who have a vested interest in advancing AI and Machine learning technologies.
Rohit Mahajan is a Managing Partner with BigRio. He has a particular expertise in the development and design of innovative solutions for clients in Healthcare, Financial Services, Retail, Automotive, Manufacturing, and other industry segments.
BigRio is a technology consulting firm empowering data to drive innovation, and advanced AI. We specialize in cutting-edge Big Data, Machine Learning, and Custom Software strategy, analysis, architecture, and implementation solutions. If you would like to benefit from our expertise in these areas or if you have further questions on the content of this article, please do not hesitate to contact us.