I knew if I failed I wouldn’t regret it, but I knew the only thing I could regret is not trying. — Jeff Bezos
The formation of starting a business in the real world is not easy. More when you are Planning in the long term, it is more complex and powerful. Before moving forward with the best data science business ideas. I would like to share some ideas regarding startup ideas and business case studies that may be useful in the future.
Let’s first think about the main challenges you face in everyday life. If you find any problem it can be solved technologically, it’s a business idea. The future is about how comfortable we are with use and the minimal work to be done. Humans nowadays have less patience to wait (i.e. low latency requirements).
As the researchers have shown, the potential for mobility of use of young people is very high compared to books. So we lose our knowledge spending time on social networks and entertainment instead of improving or upgrading skills.
Here are the most interesting ideas and business case studies I have in mind:
- AI-controlled health-based systems: AI-controlled systems in healthcare are on the rise. Healthcare AI systems with the most modern technology can help doctors diagnose and determine when patients are deteriorating. In this way, a medical intervention can take place even before the patient needs to be hospitalized. This means that the average human life expectancy will increase. Some illnesses and conditions that were once deadly will rarely be anymore. Medical AI Startups that are well designed can definitely be considered the wave of the future.
- Industrial Plants and Commercial Facilities: It is the real-time monitoring data of production machinery with AI and machine learning algorithms to determine the condition of machines, asset performance management and predictive maintenance to provide manufacturing companies with new insights into their operations, analyze data and detect any malfunction before it occurs. This allows customers to adjust their maintenance and manufacturing processes based on actual machine conditions.
- Marketing is a complex and challenging industry: It takes a lot of time and effort to gain experience and knowledge. AI driven system can accurately assess a marketing performance using its experience over time combined with advanced workflow automation analytics. That alone would likely be a significant competitive advantage in the marketing world.AI/ML apps can be used for market forecasting which helps researchers and marketers to collect accurate data using it effectively. These applications can be used in several traditional places like customer customizationintuitive workflows, improved searchesand product recommendations.
- edtech : edtech is a most popular online platform to learn or unlearn or relearn a tool for all levels of students or professionals. If you’re considering a unique way to teach or coach students in some degree to understand real-world implications and challenges we solve. Quickly develop and test omnichannel campaign concepts with Creative Automating to drive engagement.Complete your digital reach with direct marketing to increase conversion potential.Create new skill-upgrading opportunities with Interactive Video.
- SaaS platform based on Artificial Intelligence: Which aims to reskill the workforce and business communities. It develops and markets a methodology, Quantum work analysisto provide real-time information on skill levels in the internal workforce and external labor markets, identify future and emerging skills, and facilitate reskilling at individual and company level.
- Adaptive Learning Platform: Imagine having a teacher who adapts to your specific learning needs and helps you grow with a learning path perfectly designed for you! This is how replacing is revolutionize education. They provide an adaptive learning platform that assesses learner behavior, strengths and weaknesses, and streamlines learning progress accordingly. Detailed analysis of learner progress is also available for review.
- Dynamics and customer information: The idea of revitalizing the customer relationship by taking charge of the digital future of the customer which allows him to understand the customer dynamic as expectations and requests. which also leverages its huge repository of data and capabilities around cloud, DevOps, business automation, analytics, and quality assurance to ensure that deliverables are integrated into a high-quality experience for the customer.
- AI in catering: The robots will not yet take your order at the fine dining establishment around the corner. The first breakthroughs of AI in the restaurant field are simple: online ordering. Chatbots are already working here, offering support when you place an order online for for example. Pizza. Chatbots and AI-based online ordering systems can fully automate restaurant takeaways and delivery.
- Business card scanner: Developing a business card scanner can be done using the ROCK (optical character recognition). Your trained model will find and extract information from business cards. Essentially, this will be divided into three phases: image processing (noise removal), OCR (text extraction) and classification (classification of key properties). You can use your business card reader to automate data entry.
- RL for trade: Reinforcement learning promotes business benefit maximization, end-to-end optimization, and helping framework. Use reinforcement learning to deal with these crucial situations by creating simulations. these simulations can manifest scenarios with a negative reward for an agent, which in turn will help the agent find workarounds and tailor-made approaches to such situations. Repeating the process of similar RL-based policy adjustments over time will allow the agent to continue to automatically adjust its operation to accommodate any slowdowns or issues that may arise.
That’s all folks!! If you found it interesting and useful, please Upvote and mention comments for more ideas and solutions for new age startups.