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Artificial intelligence once relegated to academic studies and sci-fi nerds has become one of the hottest technologies, infiltrating every industry.

AI adoption was already accelerating before the COVID-19 crisis, but experts say that demand for AI tools is now is poised to grow even faster.

"The entire industry of AI is getting a huge boost from this unfortunate crisis," David Blumberg, founder and managing partner at Blumberg Capital, told Business Insider in May. "There is a silver lining to this dark cloud that we've all been living in for over two and a half, three months."

Former Cisco CEO John Chambers, who now runs his own venture firm JC2 Ventures, told Business Insider in an interview in May that he expects one to five major AI players to emerge from the current crisis.

AI has helped businesses take on big and small tasks, from making long-term sales growth projections to the automation of routine, time-consuming tasks.A 2019 Gartner survey found that major organizations planned to double their number of AI-related initiatives in the following year, from an average of 4 to 10. But as they pandemic has forced businesses to try to adapt to major changes, like the sudden pivot to remote work and tightening budgets, they're looking for ways to streamline and operate more efficiently.

"AI is best at solving all these really boring meat-and-potato problems," James Cham, a partner at Bloomberg Partners, told Business Insider. Many of the opportunities for using AI involve "straightforward process engineering," he said, where the technology can be used to shorten or streamline a process.

Industries like collaboration, shipping logistics, and manufacturing and warehousing will be particularly keen on using AI, said Sandeep Bhadra, a partner at Vertex Ventures.

Jake Saper at Emergence Capital had a similar prediction, that "vertical" specific AI software will be in more demand.

Here are 12 startups that analysts and investors say are well-positioned to grow thanks to a surge in demand for AI tools:

Originally posted here:
These 12 artificial intelligence startups are poised for success, particularly in a post-COVID world, according to experts - Business Insider