Our Innovation Analysts recently looked into emerging technologies and up-and-coming startups working on artificial intelligence (AI) solutions. 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 natural language generation startups.
Heat Map: 5 Top Natural Language Generation Startups
Using our StartUs Insights Platform, covering 1.116.000+ startups & emerging companies, we looked at innovation in the field of artificial intelligence. For this research, we identified 109 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 innovative natural language generation solutions. Moreover, the Heat Map reveals regions that observe a high startup activity and illustrates the geographic distribution of all 109 companies we analyzed for this specific topic.
MyFinB – Financial Assessment Automation
Natural language generation is an emerging form of artificial intelligence that processes conversational data to help across multiple industries. Data literacy, the process of understanding numbers and information to generate insights, regularly employs NLG techniques. This includes executive statements about financials, audit reports, and other strategic data, reducing the time spent on number crunching.
Singaporean startup MyFinB develops an NLG and AI-based risk assessment and analytics platform intended to enhance financial productivity. The platform uses robots to conduct financial assessments, balance sheet management, credit risk monitoring, and creating recommendations among other services. As a result, small and medium businesses (SMEs) obtain an opportunity to establish their own credit analytics bureau and manage risk-weighted assets within their organizations.
Specifio – Auto-Generated Software Patent Application
NLG is also useful in the reverse manner, where basic input information is sufficient to provide automated reports. This is especially useful for companies filing numerous patents and even for filling government forms or other staple invoice generation. Consequently, startups look to combine NLG with various speech recognition and text-to-speech applications. These improve customer experiences and ensure fewer errors at the time of submission of forms or documents.
The US-based startup Specifo utilizes advanced NLG techniques to auto-generate software patent applications. Specifio transforms a single set of software method claims into a first-draft patent application. This allows practitioners to maximize value by adding in the nuances of the description, as well as specific examples from the invention disclosure. Moreover, this system requires no human intervention and ensures a high degree of data confidentiality.
Kami AI – Chatbot Workforce
Chatbots & virtual assistants are expected to have a high degree of market penetration, with some suggesting they will replace call centers and customer helplines. Startups are creating useful NLG-based tools to communicate with customers and help solve their issues. Especially useful in industries with a high volume of basic customer interactions, like telecom, NLG offers companies the opportunity to rebuild customer care facilities with automation.
British startup Kami AI allows companies to make the shift to virtual assistants by using conversational AI. Clients have the option to develop a chatbot workforce to perform various repeating tasks. This includes self-servicing customer support agents, office administration agents, and online travel agents. Kami Bots leverage a custom-built natural language processing (NLP) engine that enables precise intent classification and name-entity recognition, as well as multi-lingual support and NLG.
United Robots – Automated Editorial Content
Another application of NLG involves direct content creation. AI is capable of generating high-quality content for new topics by using a series of templates and condition-based algorithms. Content marketing plays an important role today in customer lead generation and for improving visibility in any sector. AI and NLG unite to potentially automate and disrupt the industry. Startups are also working on ways to overcome some of the key challenges facing AI and NLG integration.
Swedish startup United Robots creates automated editorial content from large datasets. This newsroom automation solution allows publishers to use robots to cover smaller stories while reporters do investigative and high-quality stories. By combining NLG with regularly published structured data, the startup covers a greater number of stories, quickly and consistently, with accuracy.
AdZis – E-Commerce Content Creation Engine
NLG is already in use across a diverse range of industries, providing human-like interactions to many service industries. E-commerce is another sector that significantly benefits from employing NLG. With large volumes of products available for sale, companies need to clearly showcase their products with all the relevant information to consumers. Several tasks are suitable for automation using NLG, and startups use it to develop solutions for the e-commerce industry.
The US-based startup AdZis offers an AI-enhanced e-commerce content engine. The startup’s automated NLG solutions fill in online descriptions for online retailers, write-ups for classified listings, as well as content for aggregator sites. Some ways in which the NLG fills product descriptions include targeting new long-tail keywords in addition to providing a semantic connection with the Google Search algorithm.
What About The Other 104 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 natural language generation startups showcased above are promising examples out of 109 we analyzed for this article. To identify the most relevant solutions based on your specific criteria, get in touch.
