India’s top AI firms in 2022
India’s AI ecosystem is booming, with many innovative companies entering the field. INDIAai has a list of outstanding companies that will lead the AI race in 2022.
AI is undoubtedly playing a significant role in every industry vertical as the business landscape changes. The Indian government increased its investment in Digital India to $477 million in 2020 to boost AI, IoT, big data, cybersecurity, machine learning, and robotics. Finance Minister Nirmala Sitharaman announced in the 2019 Union Budget that the government would provide industry-relevant skill training to 10 million youth in India in areas such as AI, big data, and robotics. Through machine learning, neural networks, speech software, and a variety of other solutions, AI companies assist organizations in intelligently solving problems. INDIAai includes a list of exceptional companies that will be at the forefront of the AI race in 2022.
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Bosch established the Bosch Center for Artificial Intelligence (BCAI) in 2017 to integrate cutting-edge AI technology into Bosch products and services, resulting in innovative solutions. Bosch laid the technological groundwork for AI to have a measurable impact on the real world. Its research generates differentiation in six areas by combining data from all of Bosch’s disciplines, with a particular emphasis on core artificial intelligence technologies. In the last 16 years, only 1.08 percent of trading sessions experienced intraday declines of more than 5%. Over a three-year period, the stock returned -15.94 percent, compared to 44.16 percent for the Nifty 100 index.
The Artificial Intelligence Centre of Excellence (AI CoE) at Tata Elxsi is designed to meet the growing demand for intelligent systems. Customers can quickly adapt and modify the landscape using the company’s cloud-based integrated data analytics frameworks, which include patent-pending technologies, to gain actionable insights and better results. The stock returned 174.89 percent over three years, while the Nifty IT gave investors a 106.55 percent return. The company spent less than 1% of its operating revenues on interest charges and 56.1 percent on staff costs in the fiscal year ending March 31, 2021. Tata Elxsi has been a catalyst for technological advancements for the past 25 years. It covers a wide range of AI and analytics-enabled breakthroughs, from self-driving cars to video analytics solutions.
Nextbillion AI is an enterprise mapping platform. It enables enterprises to address all map-related requirements – last-mile optimization, navigation, road restriction management, and vehicle routing optimization. Within a year of its launch, Nextbillion AI had mapped over two lakh kilometres of road, managed over one lakh restrictions, and processed over two lakh million API calls. Nextbillion AI aspires to be the global leader in artificial intelligence-enabled hyperlocal solutions in the future. Lightspeed Venture Capital, Falcon Edge Capital, and Microsoft’s venture capital fund M12 all invest in Nextbillion AI.
Wysa combines AI-guided listening with provisional expert support to help users self-manage stressors. Wysa has created an AI-powered chatbot that makes the user feel heard by utilising evidence-based cognitive-behavioral techniques. 100 million conversations have been powered by the solution. According to the startup, regular users have seen a 40% improvement in self-reported depression symptoms. Wysa is a Google Assistant Investment programme participant. Google Play awarded it the Best App of 2020 award. W Health Ventures, pi Ventures, and Kae Capital, all based in Boston, have invested in the company.
Yellow.ai provides businesses with an omni-channel conversational AI tool to automate customer experiences. Yellow Messenger was the previous name for it. Sephora, MG Motors, Bharat Petroleum, and FoodPanda are just a few of Yellow.ai’s clients. The chat and voice-based bots from the startup are available in over 100 languages and 35 channels, including the web, Whatsapp, Instagram, in-app, IVR, and contact centre. Yellow.ai and Microsoft teamed up last year to transform their voice automation solution using Azure AI Speech Services and Natural Language Processing (NLP) tools.
Myelin Foundry is a deep tech product company that uses artificial intelligence algorithms to transform industry outcomes using video, voice, and sensor data. Myelin Foundry assists businesses in leveraging the power of advanced neural compute in the shopfloor, automating decisions about plant equipment reliability, availability, and maintainability. Endiya Partners, Pratithi Investments, and Beyond Next Ventures are among the notable investors in Myelin Foundry. Microsoft for Startups, NVIDIA Inception Program, and Netapp Excellerator have all featured it. Myelin Foundry also won the enterprise category of the NASSCOM Emerge 50 Awards 2020.
Kellton Tech develops cutting-edge, laser-focused AI solutions for problems that have traditionally required a lot of human intelligence, such as machine learning and deep learning. The stock returned 40.86 percent over three years, while the Nifty IT returned 106.55 percent to investors. Kellton Tech Solutions Ltd., a smallcap company in the IT Software sector, was founded in 1993 and has a market capitalization of Rs 712.75 crore.
At Happiest Minds, augmented intelligence is combined with natural language processing, image analytics, video analytics, and emerging technologies such as AR and VR. Happiest Minds envisions and develops the next generation of intelligent systems that can think, learn, create, and make decisions in the same way that humans do. The company’s ROE for the fiscal year ended March 31, 2021 was 29.62 percent, exceeding its five-year average of 23.07 percent. Happiest Minds Technologies Ltd., a large cap company in the IT Software sector with a market capitalization of Rs 13,507.78 crore, was founded in 2011.
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