By: Emanuel Timor
Thanks to major technological advancements in recent years, Artificial Intelligence has become a cornerstone in the technology stack of many startups. We are proud to partner with Microsoft Ventures in the Innovate.AI Competition. It is a great opportunity for early-stage companies with core AI technology in their journey to turn their vision into a reality.
Almost every start-up we meet these days use Artificial Intelligence – whether it’s machine learning or deep learning. The concept of AI has been around for many decades, but only recently has gotten to the point where it lives up to its promise. Mainly thanks to the exponential growth in the computing power of GPUs and the ability to store and process Big-Data in a reasonable time.
AI is about to have a major impact on every aspect of our lives. Better health services thanks to AI-powered diagnostics and personalized treatments, autonomous driving that will save millions of lives and injuries every year, more food thanks to higher yields and greener farming. More efficient enterprises, better education services, a new level of robots, voice-enabled services like Siri and Alexa, real-time and accurate language translation; the list could go on and on.
As with any technological revolution, AI is already associated with some hype. Many startups that are active in the field are late to the market or offer ‘me too’ kind of solutions. Moreover, the leading tech-giants such as Microsoft, Facebook, Amazon, Google, and NVidia are competitive to some start-ups and may present a similar offering to those start-ups now or in the future. Nevertheless, in many cases, we view those giants as partners that provide ever improving and powerful platforms on which startups and innovators can bring their new ideas to life and focus on their core expertise.
At Vertex we are interested in startups that develop building blocks for running and enabling better AI services, as well as new applications and use-cases. Many of our investments are already heavily relying on AI for their offering. Examples cut across all fields, such as Cyber Security – LightCyber, Autonomous Driving – Innoviz and Fleetonomy, AgTech – Taranis, Personalized E-Commerce – Dynamic Yield, and Enterprise Automation – Kryon.
Most importantly, we believe that the engineering talent and entrepreneurial spirit of Israeli startups have the unique potential to leverage AI for solving real problems and building great companies. That is why we are excited to take part in the Innovate.AI competition together with Microsoft Ventures, who is one of the most important contributors to the Israeli startup eco-system. We are eager to meet great entrepreneurs with unique ideas, and if your team is up for the challenge, we want to see you apply!