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20 revolutionary generative AI startups to know in 2024

August 17, 2023

Unique Generative AI startups that are going to without a doubt change the world

It seems that OpenAI with ChagGPT changed the world at the start of 2023 and we are in for an amazing ride. “Generative AI” refers to AI that generates content,such as text, images, audio and video.

The value in the Generative AI market is projected to reach US$45bn in 2023.

We’ve put together a list of 19 Generative AI startups  that are establishing themselves as “heavy-hitters” in this exciting and new industry.

What are Generative AI Startups?

Generative AI startups are constantly looking for innovative ways to improve the algorithms that are behind the process of generating AI text and other media. The lighting speed with which changes happen in this niche, these Generative AI are working hard to stay at the forefront of the industry.

Synthesis AI

Founded in 2018, Synthesis AI developed proprietary machine learning models to generate realistic simulated data for training visual perception systems. This expands available dataset variety while protecting individuals’ privacy and safety. Example uses include autonomous vehicle testing, medical imaging research, and augmented reality.

Firmly committed to accountability, Synthesis AI vets all clients and limits synthetic data uses to contexts preserving dignity and consent. Their Governance Board provides oversight on model ethics and biases. Synthesis believes guidance and vigilance must accompany innovation.

Glean

Founded in 2019, Glean integrates with workplace systems like Slack, Gmail, Salesforce to build understanding of an organization. It surfaces context-relevant information to employees.

Workers get tailored answers and recommendations directly within their workflows. Glean aims to make enterprise knowledge discoverable, boosting productivity.

Observe.AI

Founded in 2017, Observe.AI leverages AI and natural language processing to listen to customer service calls in real-time. Their platform analyzes interactions and provides agents with live guidance.

This aims to improve customer satisfaction through faster issue resolution and more empathetic conversations. Observe.AI also provides coaching tools to enhance agent performance over time.

Veesual AI

Founded in 2020, Veesual provides technology allowing shoppers to digitally “try on” clothing using augmented reality. This aims to recreate the real-world dressing room experience lost with online shopping.

The computer vision platform generates extremely accurate 3D renderings of apparel fit on real people. For brands, Veesual increases conversions, reduces returns, and enhances digital experiences.

Hugging Face

Hugging Face was founded in 2016. They focus on making open-source machine learning libraries, mainly for processing language and images. On their website, they host thousands of pre-trained AI models for working with text, voice, audio, and pictures.

With their open repositories, the Hugging Face community has built up a large collection of reusable AI building blocks.

Soundraw

Launched in 2021, Soundraw utilizes deep learning to auto-generate unique soundtracks based on customizable inputs like genre, mood, instruments, and length. This provides creators affordable, adaptive music.

The AI-composed songs can be used in videos, podcasts, games, or other media without worrying about copyright issues. This Generative AI startup aims to make professional music accessible to all levels of creators.

AssemblyAI

Founded in 2018, AssemblyAI provides enterprise-grade speech-to-text APIs for converting audio into searchable text. Customers integrate the secure transcription into workflows.

Key offerings include real-time streaming, speaker separation, and sentiment analysis of conversations. AssemblyAI aims to make speech data accessible and actionable at scale.

Perplexity

Founded in 2020, Perplexity aims to make enterprise search more intuitive through natural language AI. Employees can get precise answers to queries by chatting in freeform sentences.

The conversational search platform understands context and semantics to provide relevant results beyond just keywords. Perplexity continuously improves through machine learning as users interact.

Humata

Founded in 2021, Humata applies natural language AI to understand unstructured data like documents, emails, and media files. Users can search and query content in plain English.

Humata returns precise results pulled from materials, along with synthesized summaries. The AI aims to unlock insights from information otherwise buried in siloed files across machines.

Stability AI

Founded in 2020, Stability AI pioneered the Stable Diffusion architecture that generates detailed images from text prompts using diffusion models. Their tools make AI creativity accessible.

By open sourcing models like Stable Diffusion, Stability AI aims to accelerate research and build an ecosystem of applications powered by generative AI. Their platform democratizes creating with AI.

Rephrase.ai

Founded in 2022, Rephrase.ai uses AI to convert text into realistic synthetic video content. Creators customize fully generated videos by tweaking avatars, voices, backgrounds, and scripts.

The platform enables anyone to become a video creator simply by writing. Rephrase democratizes access to video production without the need for cameras, editing, or acting skills.

Runway

Launched in 2018, Runway allows creators to generate video content by describing desired scenes and actions through text and images. The AI renders unique video compositions matching the prompts.

Runway’s generative engine aims to simplify video production without shooting original footage. Text prompts come to life as AI-generated video drafts for creators to refine or use as-is.

Bubble

Founded in 2012, Bubble provides a visual interface and building blocks that empower anyone to develop their own web applications. Users simply drag-and-drop components and set configurations visually to build features.

This intuitive approach enables rapid prototyping and development without technical skills needed. Bubble-built apps can be deployed instantly with hosting, databases, and cloud services.

Truehold

Founded in 2020, Truehold purchases homes directly then leases them back to sellers, who can continue living in them. Homeowners receive a large lump-sum cash payment while retaining residence, avoiding displacement.

Truehold’s sale-leasebacks unlock liquidity rapidly without loans or lengthy sales. Their direct model cuts out intermediaries to maximize seller proceeds. Custom leases and downsizing options provide flexibility.

Writer

Founded in 2021, Writer provides an AI-powered writing assistant for marketing and product teams. The platform generates and optimizes copy for a wide range of use cases from emails to landing pages.

Writer’s technology captures brand voice, tone, and messaging to write original content at scale. Teams can produce more content faster while maintaining quality and consistency.

TestFit

Founded in 2017, TestFit provides AI-powered real estate modeling and analytics to optimize property development. Clients can instantly generate hundreds of design and financial feasibility studies for a site.

By automating feasibility testing, TestFit identifies the most valuable development program that maximizes returns. Site-specific data improves accuracy to reduce risk and uncover hidden potential.

MOSTLY AI

Founded in 2017, MOSTLY AI automates the generation of high-quality, customizable synthetic data used to train machine learning models and test software systems.

Their synthetic data platform empowers enterprises across industries to simulate large datasets with complete control and security. This accelerates development cycles for AI and testing use cases.

Cohere

Founded in 2020, Cohere offers AI-powered natural language generation and understanding through intuitive APIs. Their models produce human-like text and analyze text for sentiment, keywords, etc.

By providing enterprise-grade large language models as a service, Cohere aims to make AI accessible for any organization. The self-service platform speeds up development and lowers costs.

Groove Jones

Founded in 2018, Groove Jones creates immersive content and apps leveraging technologies like VR, AR, and AI. Their capabilities span gaming, branded experiences, training, and enterprise solutions.

Groove Jones offers specialized expertise across the extended reality spectrum, from developing 3D interactive environments to deploying volumetric video capture studios. Their focus is building engaging experiences powered by emerging tech.

F(x) Data Labs

Founded in 2017, F(x) Data Labs partners with organizations to build data-driven products, optimize operations, and empower decision making. Services span data strategy, machine learning, predictive modeling, and developing analytics platforms.

By providing specialized data skills and solutions, F(x) aims to transform how clients across sectors leverage data to create value. Their technology agnostic approach delivers measurable business impact tailored to each need.

Conclusion

Discover more creative startups that might interest you:

  • The best DeFi startups working on alternatives for the standard financal services.
  • Food startups that are developing amazing food making and delivery solutions.

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