Our Innovation Analysts recently looked into emerging technologies and up-and-coming startups working on solutions for the Telecom sector. As there is a large number of startups working on a wide variety of solutions, we want to share our insights with you. This time, we are taking a look at 5 promising artificial intelligence startups.
Heat Map: 5 Top Artificial Intelligence Startups
Using our StartUs Insights Platform, covering 1.116.000+ startups & emerging companies, we looked at innovation in the field of telecom. For this research, we identified 261 relevant solutions and picked 5 to showcase below. These companies were chosen based on a data-driven startup scouting approach, taking into account factors such as location, founding year, and technology among others. Depending on your specific criteria, the top picks might look entirely different.
The Global Startup Heat Map below highlights 5 startups & emerging companies developing AI solutions in telecom. Moreover, the Heat Map reveals regions that observe a high startup activity and illustrates the geographic distribution of all 261 companies we analyzed for this specific topic.
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Predicty – Customer Churn Analytics
In the telecom industry, customer service is equally important as network connectivity. Understanding the customer churn, allows organizations to customize products and services. This improves overall customer experience as well as customer retention. Emerging companies and startups use analytics to develop innovative solutions for the telecom industry.
The Ukraine-based startup Predicty develops AI-based predictive analytics solutions for telecom providers. Predictive models and algorithms analyze customer relationship management (CRM) data and help categorize the customers based on the risk of attrition. This enables the service providers to cater to the product offerings in line with customer requirements and, as a result, reduces customer attrition.
Avanseus – AI For Network Hardware Optimization
Network hardware maintenance involves capital expenditures (CAPEX) and operations expenditures (OPEX). Network operators incur heavy CAPEX and OPEX tackling network expansion that leads to an increase in performance issues. With the help of AI and predictive maintenance, startups develop solutions for hardware optimization which translates to improved profitability.
The Singaporean startup Avanseus provides an AI-based predictive analytics network, Avanseus. This network uses advanced machine learning (ML) to help monitor network hardware and predict maintenance faults and network failures. As a result, the solution reduces downtime and improves hardware life for telecom network operators.
MindTitan – Fault Grouping Analytics
System deterrents like viruses, trojans, potential failures, and malfunctions need to be holistically monitored to derive actionable insights. Detection of the various faults needs to be easily interpretable allowing management to deploy resources to quickly address and solve the issues. With the help of AI/ML algorithms, startups and emerging companies develop solutions to improve fault management.
The Estonia-based startup MindTitan develops fault grouping solutions for telecom network operators. Machine learning algorithmic systems help monitor networks and derive meaningful flags or alerts and groups the faults based on interdependencies eliminating manual approach to understand interdependence. This results in reduced downtime, improved network efficiency, and productivity as well.
Success.ai – Chatbots
Chatbots and voicebots improve overall customer satisfaction with improved response time, quality, and omnichannel availability. With the help of technologies like AI/ML, chatbots help automate repetitive queries such as network plans, pricing, and setup procedures. Startups and emerging companies develop customized chatbot solutions for telecom network providers.
The Canadian startup Success.ai develops a conversational platform for telecom providers to offer their customers. This chatbot solution helps network providers with automated responses for queries which results in a reduction in waiting for time and an increase in overall customer experience and engagement.
AutomationEdge – Robotic Process Automation (RPA)
Network operators stand to gain with the help of process automation as it eliminates the need for humans to perform repetitive processes resulting in improved effectiveness and efficiency. RPA in telecom helps reduce manual errors and improve turnaround times in processes such as billing, invoice processing, and document verification which are repetitive in nature. Startups and emerging companies develop RPA solutions to improve overall profitability, customer experience, and customer retention.
The US-based startup AutomationEdge provides RPA solutions for telecom companies. The startup helps network providers to automate data entry, invoice processing, and responses to queries. As a result, RPA enables network providers to improve customer experience, forecasting, decision making, and market competitiveness.
What About The Other 256 Solutions?
While we believe data is key to creating insights it can be easy to be overwhelmed by it. Our ambition is to create a comprehensive overview and provide actionable innovation intelligence so you can achieve your goals faster. The 5 artificial intelligence startups showcased above are promising examples out of 261 we analyzed for this article. To identify the most relevant solutions based on your specific criteria, get in touch.
