Opinion

Artificial Intelligence is the fastest-growing field in the present-day. According to fortune, the statistics say that the hirings for AI specialists have grown by 74% over the last 4 years. Artificial Intelligence is regarded as the "Hottest" job of the present generation. The demand for skilled AI specialists is growing faster like never before. Requirements and open positions for experts in the sub-fields of AI like machine learning, deep learning, computer vision, statistics, and natural language processing are surging each day.
What better time to make a startup of your own? You could be a self-made entrepreneur with some artificial intelligence skills and knowledge. Thanks to all the hype, there simply just can’t be a better time to build your very own startup in AI. However, this requires some fact-checking and digging up.
Which fields actually live up to all the accelerated hype by AI? To answer this question we will have to explore the various fields of artificial intelligence and the various ideas that come along with each topic. I will be discussing the various possible startups with AI. Then I will recommend a few suggestions to get started with that particular startup and proceed to explain it in a bit more detail. Let’s start analyzing the 6 best startup choices for AI in no particular order.
1. Machine Learning Startups:
Ideas and approaches – Optimization algorithms to solve complex problems, high-quality recommendation systems, advanced spam filtering, fraud detection.

Machine Learning startups offer a wide range of opportunities. There are so many directions you can choose. This is also a great option for people with proficient machine learning knowledge but lack the deep learning perspective or are not that interested in deep learning. Some people just like more complex math and machine learning designing. Well lucky for them! This is the perfect startup option. The designing, strategic planning, and deployment of various machine learning models can be performed on the idea of their choice to earn cash and make profits on their business venture.
2. Natural Language Processing:
Ideas and approaches – Unique innovative chatbots for business and industry, sequence to sequence models with attention for machine translation for regional languages, text to speech, and speech to text tasks.

Do you love text, lots of reading, pre-processing, and building models with text-based data? Bingo! This is the best choice to plan and build your Startup on. The possibilities you have with natural language processing as a startup choice are diverse. These range from classification of text, segregation of useful data, construction of high-level [chatbots](https://towardsdatascience.com/innovative-chatbot-using-1-dimensional-convolutional-layers-2cab4090b0fc), and much more. If you live in a place where the regional language is not yet verified as an official language in the google translator, that could be a great business option as well. Also, most google translations do not work well on some languages. You can improvise your own datasets and ideas resulting in a successful startup. If you want to build chatbots, the best approach is to look for what are your target audience, companies, or businesses. Making specific chatbots is ideal as you can greatly improve the performance for that particular task.
3. Computer Vision:
Ideas and approaches – Face recognition, object detection, human activity recognition, human emotion and gesture detection, image segmentation, optical character recognition (OCR).

I am personally very pumped for computer vision projects and computer vision related startups. This field offers unique and diverse options to build so many innovative projects. Computer vision projects are meant to interpret and visualize the images and objects in the surrounding. A fruitful computer vision business venture can generate a high income. Computer vision can be used across many platforms. Face recognition tasks can be performed on smartphones, IoT devices, etc. Object detection tasks can be performed for image retrieval, surveillance, automated vehicles, and machine inspection. Here is an example of human emotion and gesture recognition by me. Set up your startup by picking your target audience and company for which you want to perform the specific computer vision task.
4. Medical AI-based Startups:
Ideas and approaches – Advanced x-ray scanning, advanced screening and diagnosis of malicious diseases, retinal scans, identification of various symptoms for specific conditions.

Artificial intelligence is being extensively used in the medical research and science fields. Medical startups with artificial intelligence technologies are gaining extremely high popularity due to the precision and accuracy of predictions. The development of high-quality models especially in the field of medicine and medical science is essential. This is because an individual’s life could be on the line with each prediction. This is one of the main reasons the demand for these startups are rising each day. This is the best startup idea for you if you are interested in helping people and innovating the equipment in the medical industry.
5. Internet of Things with AI (IoT-based AI Startups):
Ideas and approaches – AI-based robotics, security using embedded systems, self-driving AI cars, face recognition and emotion analysis on embedded devices, home automation setups.

This is perhaps the coolest startup idea with AI. Both IoT and AI are buzz-words in today’s world. There are tons of options one can choose to integrate AI with IoT. Incorporation of AI with embedded systems to perform various chores like security, surveillance, face recognition, and finger print recognition among many others are fantastic startup options. Robotics and AI are one of the most popular fields together. To read more about the AI-based robots dream check out this article here. Overall, this is the best option for anyone interested in real-life and real-time computational processing of IoT projects together with artificial intelligence.
6. Virtual Assistants:
Ideas and approaches – Speech recognition to interact with the user, conversational chatbot AI, natural language processing, computer vision knowledge.

Virtual assistants require a special mention of their own. This is because the more precise and robust [[virtual assistant](https://towardsdatascience.com/tagged/virtual-assistant-project)s](https://towardsdatascience.com/tagged/virtual-assistant-project) are quite complex to build. However, the revenue generated by these virtual assistant startups can be very high. It is important to have some knowledge across IoT, natural language processing, computer vision, and speech translation. The existing popular virtual assistants are Amazon Alexa, Apple’s Siri, Google Assistant, and Microsoft’s Cortana. The market needs more virtual assistants. People love the options these virtual assistants provide. However, virtual assistants like Alexa can be slightly expensive for some people. This opens up an amazing startup idea to sell. Cheaper better performing virtual assistants with optimized algorithms can be a great selling point. I will be a doing series in the near future on how can you make your very own virtual assistant.

Final Thoughts:
A Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, ambition inspired, and success achieved.
— Helen Keller
These are overall the 6 best startup ideas in my experience. Feel free to let me know if you felt I missed something or you feel any other startup idea is on the rise. At the end of the day, self-satisfaction and feeling happy about what you perceive is the most important thing in life. If you do choose any of the following startup ideas, I wish you all the best of luck! Enjoy your startup idea without the fear of success or failure.
The real test is not whether you avoid this failure because you won’t. It’s whether you let it harden or shame you into inaction, or whether you learn from it; whether you choose to persevere. – Barack Obama
Setting up your startup idea and a concrete plan is crucial for the prosperity of your startup and the journey to becoming a successful entrepreneur. I hope all of had fun reading this article and were able to learn a few things from this. Good luck to all the people setting out to be AI entrepreneurs of the modern era! Have a wonderful day and see you all in another article.