Generative AI startups: Landscape & trends

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Primers

Primers: Primers are quick short form business reports that educate leaders on key emerging technologies.

Generative AI startups: Landscape & trends

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Generative AI is forming a new economic ecosystem, reshaping the behaviour of key players in the IT industry, generating opportunities for super-scalers, and unveiling numerous niches for startups. The outlines of this new IT landscape are emerging, prompting a closer examination.

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What’s inside

  1. Introduction: The rise & impact of generative AI
  2. The technology & business stack of GenAI
  3. Business niches for GenAI startups
  4. Future trends in GenAI
  5. Appendix 1: Reality & expectations of GenAI
  6. Appendix 2: Startups across the GenAI tech stack

Introduction: The rise & impact of generative AI

Generative AI has caused significant disruption, expanding its offerings and services well beyond traditional AI domains. This has led to an explosion of potential use cases for customers who aren’t AI experts. Unlike before, customers no longer require a team of AI experts, curated data, or precisely measurable outcomes to adopt AI tool and gain immediate benefits. The interaction with GenAI is so seamless and intuitive that the onboarding for new customers is frictionless, eliminating barriers to adoption and facilitating rapid technology spread. The high variability in potential inputs and priming of generative models allows for a diverse range of applications impacting nearly every imaginable aspect of people activities. This is a foundation of a new era of Artificial Intelligence.

In this primer we leveraged our knowledge of 50+ GenAI-related and VC-backed startups to reconstruct the technological stack of the forming GenAI space.

The technology & business stack of GenAI

Large tech companies are leveraging their existing technological and capital advantages to create the framework for the GenAI market landscape, which we are going to explore in this section.

While offering of the LLMs on the current scale and heavy focus on unstructured data are somewhat new, the other elements of the tech stack closely mirror those needed for any large computational modeling. Established companies in the field of traditional AI are at an advantage, as they can expand and repurpose preexisting software, infrastructure, and services. Download Complete Research

Business niches for GenAI startups

While large players are occupying a sizable portion of the GenAI tech stack, there remains more than enough room for GenAI startups to flourish. The landscape of AI and ML is continuously evolving, with new startups, technologies, and methodologies emerging regularly.

Bottom-right (AIOps): Here, startups may offer tools for easier adoption of LLMs, facilitating the initial process of customizing and implementing these models.

Ascending (Integration): Moving upwards represents the process of integrating LLMs into various applications and business operations. Startups could offer integration services, templates, or frameworks to streamline this, or build an entire end to end app for a selected market niche.

Moving left (Service platforms): As we move leftwards, the focus shifts from core LLM functionality to auxiliary services. This could range from platforms offering specialized training data, to marketplaces for LLM apps, to optimization tools. These firms may automate the need for certain experts.

This taxonomy can serve as a foundational overview for anyone looking to understand the current state of the LLM ecosystem. It’s also worth noting that the landscape of AI and ML is continuously evolving, with new startups, technologies, and methodologies emerging regularly. Let’s inspect each block in greater detail:

Future trends in GenAI

The future of the GenAI landscape is going to be defined by several processes:

  1. Consolidation of major players
  2. Rise in open-source adoption
  3. Surge in service platforms
  4. Expansion of skill marketplaces
  5. Segment-specific applications
  6. Regulatory oversight and standardization

Appendix 1: Reality & expectations of GenAI

While enhancing the users with great capabilities, the LLM-based service is neither a freebie, nor a cornucopia. Each implementation of LLMs carries its own advantages and downsides. In this section of the Appendix, we discuss what can and cannot be realistically expected from a GenAI model in each of the most popular use cases.

We start with primary properties of a pre-trained LLM model, underlying its strong sides and functionalities as well as build-in flaws. And we move to the current ways of augment LLM model to work around the flaws. Download Complete Research

Appendix 2: Startups across the GenAI tech stack

The table of 78 startups we have based our analysis on is presented in this section.
The states of startups are set to the August of 2023.

Credits
Author@lab45: Rinat Sergeev

Latest stories

Healthcare trends: Disruptions and innovation

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17:41 Minutes The average duration of a captivating reports.

Primers

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Healthcare trends: Disruptions and innovation

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Healthcare transforms with a focus on accessibility, prioritizing IT, the global market is projected at USD 975 billion by 2027. AI and machine learning, expected in 90% of US hospitals by 2025, streamline chronic condition diagnoses. Emerging technologies drive change, influencing preventive and home care in the healthcare landscape.

What's inside

  1. Key takeaways
  2. Key drivers shaping trends in healthcare
  3. Business trends driving innovation
  4. Technology trends aiding the business

Key takeaways

Healthcare IT is a top priority for providers. Nearly 80% of healthcare providers consider it one of their top 5 strategic priorities, with investments in software including revenue cycle management, security and privacy, patient intake/flow, clinical systems, and telehealth. AI, ML, and IoMT are rapidly developing and expected to be used in 90% of US hospitals by 2025. The global mHealth apps market is growing, primarily driven by the adoption of fitness and medical apps. Technology can improve patient care, reduce medical errors, and expand hospital boundaries. However, data interoperability and regulations are necessary, and patient engagement is crucial for a better healthcare system. Download Complete Research

Key drivers shaping trends in healthcare

Empowering customers through GenAI

  • Patient centricity is a top priority as patients now expect a satisfying healthcare experience, like what they receive in other industries. With technological advancements, it is now feasible and cost-effective to meet these expectations and provide patients with a superior experience.
  • Healthcare data is vital for informed decision-making, and data integration is necessary to enable seamless sharing of information between healthcare providers. Seamless integration is vital for seamless patient care, coordinated care delivery, reducing errors, enhancing patient outcomes, and promoting a holistic approach to healthcare.
  • Preventive healthcare is gaining importance as it reduces costs, improves quality of life, promotes early detection, and aligns with advancing healthcare technologies and government policies.

Business trends driving innovation

  • The COVID-19 pandemic has accelerated the adoption of telehealth and telemedicine, leading to a significant growth of the global telemedicine market size.
  • Retail healthcare services are gaining popularity due to their convenience and accessibility.
  • However, the healthcare industry is facing challenges related to data security, cyberattacks, and lack of standardization, which can be tackled by upgrading cybersecurity infrastructure, conducting risk assessments, and complying with regulatory standards.
  • mHealth apps are transforming healthcare by providing easy access to health monitoring, medication management, and wellness, while personalized medicine uses an individual's genetic profile to inform disease prevention, diagnosis, and treatment.
  • The use of AI-driven data interoperability is transforming healthcare data exchange, and regenerative medicine is encouraging regeneration and repair of damaged tissues and organs.
  • Population health management involves analyzing healthcare data to monitor and enhance the health of each person within a population.
  • These healthcare trends impact various stakeholders, including doctors, nurses, patients, pharmacists, and healthcare administrators.

Technology trends aiding the business

  • Artificial intelligence (AI) is transforming healthcare by analyzing patient data, developing new drugs, and improving diagnoses.
  • The global AI market for healthcare is projected to reach a significant amount by a certain year.
  • Nanotechnology promises to revolutionize healthcare by enabling precise diagnosis, targeted drug delivery, and enhanced treatment options.
  • The Internet of Medical Things (IoMT) and wearable devices are becoming increasingly popular for real-time monitoring, diagnosis, and therapy delivery.
  • Robotics, digital twins, virtual reality, health data analytics, and gene editing are also promising in improving healthcare.
  • However, ethical concerns regarding gene editing must be addressed, and regulatory frameworks must be updated to ensure responsible use

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Credits
Lead Authors@lab45: Anju James
Contributing Authors@lab45: Hussain S Nayak

Top trending insights

Should govt issued IDs be decentralized?

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Should govt issued IDs be decentralized?

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Foundational for identity verification and rights access, government-issued IDs face breaches and inefficiency within centralized systems. Enter Decentralized Identity solutions, redistributing verification control to individuals. But is it applicable for equally for all government services?

What's inside

  1. Decentralized vs Centralized ID for governments
  2. Identity credential issuing process today
  3. Suitability of government functions to Decentralized Identity
  4. Long term outcomes

Decentralized vs Centralized ID for governments

Decentralization of government-issued IDs is a complex issue with potential benefits and drawbacks. Whether government issued Ids should be decentralized or not depends on various factors that we delineate. Any decision on decentralization should be carefully considered and implemented with caution to ensure that they do not breach security or undermine the government’s programs. Download Complete Research

Identity credential issuing process today

Govt Identity Credential Issuing Process
Govt Identity Credential Issuing Process

We detail out the current Issuing process typically followed by governments today and identify several challenges and issues that face it today. This includes Ids like the Passport, Licenses, Voter cards and Social security cards. All of them are critical and everyone can do with an easier and more fool proof process for the same.

Suitability of government functions to decentralization

We evaluate the different government functions such as Education, healthcare, elections, security, taxation, etc and analyze which of these would be most suitable to be decentralized. We map them on a matrix of Complexity & Coordination and the Need for scrutiny to give us an easy framework for assessment. Download Complete Research

Long term outcomes

We end by considering the long term onjectives and intended outcomes of such an exercise.We feel that Decentralized Identity solutions can rebuild trust in public institutions by empowering residents with data control.

Credits
Author@lab45: Sujay Shivram, Abhigyan Malik

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