{"id":8872,"date":"2020-08-09T20:15:48","date_gmt":"2020-08-09T18:15:48","guid":{"rendered":"https:\/\/www.dazzlepop.net\/site\/?p=8872"},"modified":"2020-08-09T20:15:53","modified_gmt":"2020-08-09T18:15:53","slug":"how-to-create-an-ai-startup","status":"publish","type":"post","link":"https:\/\/www.dazzlepop.net\/site\/how-to-create-an-ai-startup\/","title":{"rendered":"How To Create An AI Startup"},"content":{"rendered":"<div style=\"text-align:center\"><img decoding=\"async\" src=\";https:\/\/specials-images.forbesimg.com\/imageserve\/5f2f585f8a220af55402e6bd\/960x0.jpg?fit=scale\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"How To Create An AI Startup\" title=\"How To Create An AI Startup\" \/><\/div>\n<h3 class=\"wp-block-heading\">How To Create An AI (Artificial Intelligence) Startup<\/h3>\n\n\n\n<p>Group of young business people are working together in modern office. Creative people with laptop,\u00a0tablet, smart phone, notebook. Successful hipster team in coworking. Freelancers.<small>GETTY<\/small><\/p>\n\n\n\n<p>According to research from\u00a0<a href=\"https:\/\/www.idc.com\/getdoc.jsp?containerId=prUS45481219#:~:text=According%20to%20the%20recently%20updated,will%20be%20spent%20in%202019.\" target=\"_blank\" rel=\"noreferrer noopener\">IDC<\/a>, the global spending on AI (<a href=\"https:\/\/www.dazzlepop.net\/site\/category\/startup\/\">Artificial Intelligence<\/a>) is expected to hit $97.9 billion by 2023, up from $37.5 billion in 2019.\u00a0This represents a compound annual growth rate of 28.4%.<\/p>\n\n\n\n<p>No doubt, this is an enormous opportunity for startups. \u201cThese days, almost every company needs to leverage AI in order to thrive and build a meaningful future,\u201d said Saar Yoskovitz, who is the CEO of\u00a0<a href=\"https:\/\/www.augury.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Augury<\/a>.\u00a0\u201cThis is true for younger startups, and it is true for the largest companies, even in the most traditional and nascent industries like manufacturing and insurance. In a sense, AI has become another layer in the tech stack, like databases, and not a business model.\u201d<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.theloyaltypost.com\/images\/newswire\/Savvycom-AI-Lab.jpg\" alt=\"How To Create An AI Startup \" \/><\/figure>\n\n\n\n<p>All this is true. But then again, finding the right product-market fit is extremely challenging.&nbsp;Consider that AI models generally require a lot of customization.&nbsp;In fact, there is often much variation even for companies in the same industry.&nbsp;<\/p>\n\n\n\n<p>And yes, there must be a high-quality dataset. But of course, this is far from easy for a startup to develop.<\/p>\n\n\n\n<p>\u201cData creates an interesting chicken-and-egg problem,\u201d said Yoskovitz.&nbsp;\u201cWithout a customer, you don&#8217;t have data, which means you cannot train your algorithms. Without algorithms, you are not able to provide value to your customers and compete in the market. Therefore you will not have customers to provide data.\u201d<\/p>\n\n\n\n<p>What to do?&nbsp;You can look at forming partnerships, such as with companies that may not have strong AI capabilities.&nbsp;Or another approach is to create a free app that collects data.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Read more: <a href=\"https:\/\/www.forbes.com\/sites\/tomtaulli\/2020\/08\/08\/how-to-create-an-ai-artificial-intelligence-startup\/#168918bf19a4\"><a href=\"https:\/\/www.forbes.com\/sites\/tomtaulli\/2020\/08\/08\/how-to-create-an-ai-artificial-intelligence-startup\/#168918bf19a4\">forbes<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>How To Create An AI (Artificial Intelligence) Startup Group of young business people are working together in modern office. Creative people with laptop,\u00a0tablet, smart phone, notebook. Successful hipster team in coworking. Freelancers.GETTY According to research from\u00a0IDC, the global spending on AI (Artificial Intelligence) is expected to hit $97.9 billion by 2023, up from $37.5 billion [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":8875,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_vp_format_video_url":"","_vp_image_focal_point":[],"footnotes":""},"categories":[29],"tags":[438,31,208,237,11],"class_list":["post-8872","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup","tag-artificial-intelligence-ai","tag-business","tag-business-management","tag-forbes","tag-startup"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dazzlepop | How To Create An AI Startup<\/title>\n<meta name=\"description\" content=\"How To Create An AI Startup Group of young business people are working together in modern office. Creative people with laptop, tablet,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dazzlepop.net\/site\/how-to-create-an-ai-startup\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dazzlepop | How To Create An AI Startup\" \/>\n<meta property=\"og:description\" content=\"How To Create An AI Startup Group of young business people are working together in modern office. 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