Last Updated on August 17, 2020 by Henry John
Everything about starting a startup is difficult, except, probably saying “I want to start a startup”.
Coming up with ideas for a startup is one of the very first step in a very long journey of establishing a startup, no doubt.
There are so many industries with space for Startups, but the artificial intelligence industry is one of the most promising (if not the most promising industry) for a startup these days.
So many things favors startups in the Artificial intelligence industry, and the principal things are that, it’s going to dominate the next generation and currently it’s under-saturated.
In a previous article, I discussed about ways to make money with artificial intelligence and I mentioned that starting an AI Startup is a way to make crazy money with artificial intelligence. But most importantly, AI Startups has the potential to be the next big thing since Facebook and Amazon.
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Having in mind that great ideas are a key to successful Startups, I pondered about AI Startup ideas that have scalable potential, are profitable and currently under-saturated. And I came up with 10 Promising ideas.
In this article, I will share those 10 AI Startup ideas with you.
Ehmm, what else should I say?
1. AI Architectural Design Startup
The architectural design industry is a big one.
In August 2019, according to the United States Census Bureau (census.gov) there was 1,419,000 authorized building permit and 1,364,000 housing starts in the US alone.
And On average in the US, the cost of hiring an architect ranges from $2,541 to $4,545 according to improvenet.com.
The stats speaks for themselves.
So many people pay a lot of money for architectural designs every monthly. Hence, an AI Startup that uses AI to make architectural designs, is one that will be with profitable and scalable. Plus, it will greatly cut down the cost of architectural designs & time of producing these designs.
2. AI for Personal Finance Startup: AI Wealth Builder
When I started blogging, one of the first things that I considered, honestly, was ‘how to make money with my blogs’. During that period I met many experts on the personal finance/make money industry. And if there was one thing I learnt, it was that so many people are making money teaching/helping other people on how to make money, manage money, save and invest money.
Now, it is no news that most of this people that are interested in building wealth want it to work on “autopilot”.
If you do the maths, you will see that a lot of the things personal finance experts like Dave Ramson teaches about personal finance could be executed on “autopilot” with the help of Artificial Intelligence.
AI systems can be highly adaptive to budgeting, banking, insurance, mortgages, investments, retirement planning, and tax and estate planning.
Why not start an AI Startup that focuses on personal finance management/wealth building. If you ask me anytime, I would say “that’s a great idea”.
3. AI Product Curation Platform
Curation systems or recommendation systems are a big bang in the Artificial Intelligence Industry. And many Startup ideas could be built around curation/recommendation systems alone.
What is the one thing that makes Netflix, Google Discover and YouTube unique?
For me, it’s their AI Curation/Recommendation systems (that unique algorithms).
Netflix shows us movies based on our interest, YouTube shows us videos based on our perceived interest and Google Discover shows us articles on the same criterion (our interest/perceived interest).
A Product Curation or Recommendation platform based on Artificial Intelligence, that is more like Netflix, YouTube and Google Discover but for products, is a promising idea for an AI Startup.
On such Platforms, users would expect to see new, exciting and highly rated product listings based on their interest or perceived interest.
What an idea!
4. AI Home Manager Startup
Home automation over years has gained a “big industry” status, such that there are millions of smart home devices on usage and being purchased every passing day.
The idea of Home Automation is to make home management easy. It has allowed millions of home owners to manage their home at almost anywhere and anytime with just few clicks.
Home Automation has been doing good (not great) and Artificial Intelligence can make it great. An AI Home Management system would do to homes what fully self driving cars will do to traditional cars.
Come on, why should people manage their home from a device?
Can’t they just have an AI system that do all the managing for them?
For instance, when am at work I don’t have to keep checking my device to see if everything is in place.
Why? Obviously because I have an AI system that makes sure everything is in place and I only get notified when something really requires my attention.
Artificial Intelligence for Home Automation Management is a promising idea for an AI Startup.
5. Dedicated Search Engine for Audio Contents
Search Engine is quite synonymous with Google these days, obviously because of the search engine giant’s dominance of the industry, especially on written and video (YouTube) content search.
In a different vein, the interest of people on audio contents today, is surprising. Looking at the wave podcast is making today, it’s no doubt that audio contents are in great demand.
As an AI enthusiast who is keen on seeing Artificial Intelligence impact almost every aspect of life, I would be overly excited to see an AI Startup with a dedicated search engine for audio search, whose system allow users to search for audio contents using a voice search system.
That’s a cool idea for an AI Startup, plus, it would be sustainable, scalable and highly profitable.
6. AI Personalized Learning System
I guarantee you our current system of learning (Colleges/University System) is dying and will soon go into oblivion.
“College is Scam” overtime has become a popular meme, and I know that might mean nothing. But considering the fact that Big Companies like Google, Facebook, Apple and Amazon no longer require a college/University degree for entry recruitment, one could easily see the direction colleges/universities are going. And the direction is down (↓↓↓).
This trend has opened up opportunities in the learning space, because college or no college people are learning new things and acquiring new skills everyday. And that demand for learning won’t die down.
This is the point where personalized learning steps in. Itt has been proven that people learn better and faster when they are taught personally based on their unqiue learning ability and characteristics.
The major problem seems to be insufficient manpower to make Personalized Learning System the new norm. Because for every student/learner there is need for one personal teacher at a given time.
With AI system, an AI Startup an be built with focus on Personalized learning. Creating a platform that enables people to learn according to their unique learning ability and characteristics.
A startup around this idea, will no doubt be scalable and profitable even as the industry is currently under-saturated.
7. AI Interior/Exterior Designer
People have debates in years past if AI can carryout tasks classified as creative (task requiring human like creativity).
Every side of the debate has had their turns but Ai-Da (the world first AI Robot Artist) has decided who won that debate.
AI systems can carryout creative tasks such as make interior and exterior designs for home and offices. Just like the idea I proposed earlier where an AI Startup can be built on making Architectural Designs at Affordable prices. An AI Startup that builds an AI System for AI-based interior/exterior designs is one that will be highly scalable and profitable.
8. AI System for Self-Medication
The use of Artificial Intelligence in the health sector is increasing rapidly and many AI Startups have been established primarily for the health services.
These startups are helping using AI systems to save lives while making millions of dollars for their trouble. An AI Startup in the health sector is cool and promising idea.
While creating this list of AI Startup ideas, one of the things I considered was diversity. Hence, I wanted this list to contain AI Startup ideas that touch on many industries. For health, my mind just kept running around Self-Medication.
Here is the thing, millions of people don’t want to go see the doctor, for issues like mental distress, stress, anxiety and drugs for dietary supplement.
If someone has a headache, it could be a symptom of many other illness beyond stress, so self-medicating for stress might not be wise, right?
But what if there is an AI-Doctor (kind of) that one can tell “hey, am feeling headache” and it will a series of questions, after the user answers them, it will reply “oh! The is a result of stress, go get __ drugs” or “you may need to see a doctor’.
Something like that. But the idea is to have an AI Startup with a system that allows people to administer self medications properly for minor issues.
In the coming decades AI systems will play a pivotal role in Health services.
9. Artificial Intelligence Robotics Startup
Whether on industrial or domestic robots (or even both), an AI Startup around Robotics is a promising idea.
The robotics industry itself, is a very broad one. There is really no doubt that AI Robots are going to be a major part of our future.
An Artificial Intelligence Robotics Startup would be promising and no doubt profitable and scalable.
What’s most surprising is how under-saturated the industry is. But I think one of the reasons why it’s so, is that AI Robots are a hard nut to crack.
If I would start an AI Startup on AI Robots, personally, it will be on domestic AI Robots. It’s high time people start having affordable AI Robots in their homes.
10. AI Content Creator
Sorry Freelance Writers, but an AI Startup that has an AI system capable of creating good and original content can be coming for your jobs. And don’t even think it’s not possible.
With Advanced deep learning, an AI Startup can build an AI content Creator that’s capable of creating contents on almost every topic imaginable, at a very fast and cheap rate.
The Copywriting industry is worth billions of dollars and an AI Startup with a great content Creator will be swallowing some of those billions. And worth noting, the business model is highly scalable.
And That’s It
So those are my 10 promising AI Startup ideas that cut across different industries.
Artificial Intelligence is going to dominate the world sooner or later. And AI Startups/Companies will see to that eventually.
I hope to continue increasing this list from 10 to much more. And if you have an AI Startup Idea you want to share or an opinion on AI Startups,leave a comment below.
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For now, I leave you with the following tips/advice.
3 Things every Startup Founders Should Keep in Mind
For most Startup Founders, money seems to come first, no wonder, most Startups fail.
You need to ask yourself “Why?” (Borrowing from Simon Sinek). Why are you starting a Startup?
If your “why” is not good enough, just know that your Startup is doomed.
For most Startup Founders, it’s about solving real problems for real people.
- Learn to walk through Failure
If you think that a successful Startup is all about succeeding, the rethink. A successful Startup is more about failure and learning from those failures, than it is about success.
As such you need to learn to accept and embrace failure for what it is: A Stepping stone.
According to Jeff Bezos (the co-founder of Amazon), “If the size of your failures isn’t growing, you’re not going to be inventing at a size that can actually move the needle”.
- Vision & Creativity Leads
All Successful Startups are built upon a vision and the drive towards accomplishing the vision is lead by creativity.
Every Startup needs a vision and creativity enough to accomplish the vision. If you study the Apple with Steve Jobs, you will understand that, that Apple was constantly pursuing a vision and the visions were achieved because they have talents/creativity enough to achieve those visions.
Jobs once said “The role of a leader is to hire the best people and to keep them aligned towards achieving the vision”.