Figure CB Insights Releases 2019 Edition List of the 100 Most Promising AI Startups (Source: CB Insights)
Source: DeepTech Deep Technology (deeptechchina)
CB Insights, one of Silicon Valley's strongest think tanks, recently released the AI 100 2019 report. On the list of the 100 most promising AI startups, there are 6 Chinese companies: Shang Tang, Yi Tu, Fourth Paradigm, Defiance, Momenta, Horizon, in addition, the number of companies that have come to the $1 billion Unicorn level has grown to 11 companies, of which Shang Tang is on the throne with a valuation of $4.5 billion, ranking in the financing amount, the top two by China. Shang Tang and Despising, the third is the use of machine learning to discover new materials, such as Silicon Valley company Zymergen looking for plastic and petroleum alternatives.
From the first release of the AI 100 report by CB Insights in 2017, this list has now come to the third. From the results of these three years, the rise of Chinese companies in the AI field has become a clear trend. In the AI 100 2017 list, there are only 4 companies from China, and this number has increased to 7 in 2018. In 2019, there were 6 Chinese companies: Shang Tang, Yitu, Defiance, Fourth Paradigm, Momenta, and Horizon.
AI 100 2019 Annual Report The third list released by CB Insights is based on the company's comprehensive performance in 2018, including patent layout, investment profile, CB Insights' own Mosaic algorithm, market potential, media attention, and cooperation. Partnership, competitive landscape, team strength and technological novelty. This year's list has roughly a few key points:
First, China is the strongest birthplace of AI unicorns
There are 11 unicorn companies in 100 companies, 5 of which are from China, namely Shang Tang (valued at US$4.5 billion), Yitu (valued at US$2.365 billion), and Fourth Paradigm (valued at US$1.2 billion) ), contempt (valued at $1 billion), Momenta (valued at $1 billion), and another Pony.ai (valued at $1 billion), which is listed as American companies, but co-founders Peng Jun and Lou Tiancheng are all from China. Therefore, it can be said that more than half of the unicorn companies from China are undoubtedly the birthplace of unicorns.
Figure 11 Home Unicorn Company, the first valuation is Shang Tang (Source: CB Insights)
Second, automated machine learning, RPA field also sucks gold
Among the top 10 companies with the most financing, Shang Tang and contempt have the top two, and the third is Zymergen in California. The strength is to use machine learning to discover new materials, such as looking for alternatives to plastics and oil. Product.
It is well known that in the past, investors who have been favored by investors have always been computer vision and autonomous driving technologies. For example, Shang Tang, contempt, and Vision have begun to expand other technologies such as voice and industry in the field of facial recognition and security. From the top ten companies that raised the most funds last year, the field began to diversify. For example, Zymergen used AI to explore materials, and the fourth paradigm was to use machine learning to do anti-fraud. It also cut into AutoML. DataRobot is also a layout automation machine. Learning (Automated Machine Learning) platform.
Automated artificial intelligence can be said to be a very commercial area. In addition to the fourth paradigm and DataRobot mentioned above, many giants are interested in it. Google Ventures invested in assisting companies to make automated data last year. Machinify for collection and conversion, and mabl for developing automated software testing tools.
Robotic Processing Automation (RPA), which uses AI to improve corporate workflows and improve efficiency, is also highly optimistic for investors, including UiPath (which last year totaled more than $300 million in Series B and Series C financing) Automation Anywhere (a $300 million investment from the Softbank Vision Fund) received significant funding last year, boosting the valuation of the two companies. As a result, the top three high-end unicorn companies are Shang Tang ($4.5 billion), UiPath ($3 billion), and Automation Anywhere ($2.6 billion).
Third, the most active areas of patent application: corporate technology, medical health
The number of patents is often one of the indicators for evaluating a company's R&D and technical strength. Among them, the United States can be said to be the main battlefield, and 62 of them are applying for patents in the United States, totaling more than 600 items (this figure does not include patents applied in non-US markets) .
Which 100 companies have the most patent applications? The first is Shape Security, which specializes in the field of enterprise technology (Enterprise Tech), especially network and information security. It uses machine learning technology to analyze the information of users logging in to the website to determine whether it is malicious, such as stealing accounts and data. The second and third place are respectively the Butterfly Network for medical and health care, and BioCatch for financial insurance.
From the top ten companies in the number of patent applications, the enterprise technology and medical health fields are the majority, others are automobile and financial insurance. It can be seen that companies locked in these fields are protecting the technology and striving for the market by establishing a patent barrier. The intention is relatively obvious.
Fourth, Google Venture Capital is the most active
CB Insights also took stock of investment institutions, and more than 680 investment institutions provided funding for the AI 100 company in 2018, the most active of which was Google Ventures, which invested in 27 companies, followed by Silicon Valley venture capital giants. Kaipeng Huaying (KPCB) and Data Collective, and Intel Capital also invested in 14 companies.
In addition, after analyzing the list of AI 100 for the past three years, DT Jun made several observations. First, it is not a new trend, but it is a fact of ironclad: China's rise. There are only 4 Chinese companies on the AI 100 2017 list: Carbon Cloud Intelligence, Excellent Choice, Going to Ask, Rokid; 7 companies have entered the list in 2018, respectively, byte beating, Shang Tang, contempt, Cambrian Ji, excellent choice, go out to ask, fluently said, and the byte jumped to raise $3.1 billion in the year, winning the first place in the annual financing amount; in 2019 there were 6 companies: Shang Tang, Yitu, 旷Vision, fourth paradigm, Momenta, horizon.
Anand Sanwal, founder of CB Insights, pointed out in the Emtech China Global Emerging Technology Summit jointly hosted by MIT Technology Review and DeepTech Deep Technology. The subtle changes in the share of AI industry between China and the United States are coming globally. Look, the US share of the AI industry has gradually declined, while the proportion of China has been rising.
Second, the application scenarios locked by AI companies are more yuan, but enterprise technology, health care, and automobiles are still large. After three or four years of enthusiasm, AI can clearly see more applications and land in different industries. On the AI 100 2017 list, most companies focus on conversational AI/chat bots, business intelligence (BI) and analytics, healthcare, and core AI algorithms. At AI 100 2018, you can see that companies in the field of network security and enterprise technology are starting to emerge, and health care continues to occupy a large proportion. On the AI 100 2019 list, enterprise technology has become the largest, followed by health care. And car related.
Anand Sanwal once pointed out that medical care is the first area of AI investment. AI brings changes in all aspects of medical care, from diagnosis to post-monitoring and evaluation, and even pharmaceuticals. Doctors no longer rely solely on patient dictation to judge patients. Whether or not you follow your doctor's advice, you can achieve automated medical evaluation with a variety of smart devices.