The future of AI and the leaders behind the industry

Artificial Intelligence, or AI, has been a buzzword in the tech industry for years, and it's not hard to see why. AI has the potential to transform virtually every aspect of our lives, from the way we work and communicate to the products we buy and the entertainment we enjoy.

With advances in machine learning, natural language processing, and other areas, AI is becoming increasingly sophisticated and robust, allowing us to tackle complex problems and create more intelligent systems than ever.

Market overview

The growing availability of data, advancements in machine learning, and increasing computational power is also driving the AI market's growth.

According to PitchBook , venture capital investment in artificial intelligence reached $1.37 billion in 2022 through 78 deals, nearly matching the amount invested in AI over the past five years. In comparison, other industries experienced a decrease in investment.

The global market for artificial intelligence was estimated at $62.35 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 40.2% from 2021 to 2028, driven by the increasing adoption of AI in industries such as healthcare, finance, retail, manufacturing, and transportation. At this growth rate, the market will be valued at nearly a trillion US dollars by 2028.

Global AI market size 2021-2028

Due to the large market size and promising technology, venture capital also shows great interest in this area. According to Forbes there have been 442 deals worth $11.65B in financing for artificial intelligence companies in the United States since the beginning of 2021.

As the AI market continues to expand rapidly, exploring some of the most exciting and innovative uses of this technology is essential. AI is revolutionizing many industries, from finance and fraud detection to data management and autonomous checkouts.

Amidst the recovery of the tech sector from the difficulties faced in 2022, the emergence of ChatGPT and the increased investment in AI have brought a new wave of energy. Microsoft, Google, and other giants have been making headlines and dominating charts by supporting new AI solutions.

So, let's take a deep dive into the potential of AI and discover the companies that are transforming the way we live and work, which you can invest in now using the Raison VC marketplace!

Open AI, and what's the hype about?

OpenAI has been making waves in the tech industry. Founded in 2015 by Elon Musk and Sam Altman, this research organization is dedicated to advancing the development of AI in a way that benefits all of humanity.

OpenAI has significantly contributed to the field, from developing cutting-edge language models like GPT-3 to creating sophisticated robotics systems.

As a result, it's no surprise that there's a lot of hype around OpenAI and its potential to revolutionize how we live and work.

Some of the key accomplishments of OpenAI include:

• Developing GPT-3, famously known as ChatGPT, is a highly advanced language processing model used in many applications, such as language translation, summarization, and question-answering.
• Developing Dactyl, a robotic hand that can manipulate objects using deep learning, performing tasks such as turning a doorknob and playing rock-paper scissors.
• Developing the OpenAI Gym, a toolkit for developing and comparing reinforcement learning algorithms.
• Researching and developing advanced techniques in machine learning, including generative models, deep reinforcement learning, and machine learning safety.
• Collaboration with major tech companies, such as Microsoft, and partnerships with other organizations in industry and academia to advance the field of AI and help develop more advanced and safe AI systems.

OpenAI is also known for its contributions to the field of AI safety and ethics, including publishing research papers on the topic and developing tools to help ensure that AI systems are safe and beneficial for humanity.

The most famous AI chatbot

ChatGPT is an extensive language model created by OpenAI that uses deep learning to generate human-like responses to various prompts.

Since its launch, ChatGPT has quickly become one of the most sophisticated AI chatbots available, with the ability to converse on a broad range of topics and provide helpful information to users.



ChatGPT's development was based on OpenAI's GPT (Generative Pre-trained Transformer) architecture, which allows the model to learn and generate coherent and contextually relevant text. In recognition of its achievements, ChatGPT has won several awards, including being ranked as the most capable language model in the world by the GLUE benchmark, a widely recognized evaluation for natural language understanding.

In January, just two months after launch, the platform reached 100 million monthly active users. TikTok achieved the exact figure in 9 months, and Instagram in 2.5 years.

Meanwhile, OpenAI has started to monetize its flagship product. A paid version of the service was introduced in early 2023 - ChatGPT Plus, worth $20 per month. Users of the paid version get to enjoy several benefits: use during peak hours, faster response, and priority access to new features.

Securing a $10B deal

At the end of January 2023, Open AI and Microsoft officially announced the expansion of their partnership, which included a "multi-billion dollar" investment from Microsoft. The specific amount of funding and the new estimate of Open AI has yet to be disclosed. It was about ≈$10 billion and ≈$29 billion, respectively.

Microsoft will also ramp up investment in its supercomputer deployments to accelerate OpenAI's AI research. In addition, the company intends to integrate OpenAI technologies into its corporate and consumer products.

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ScaleAI and how to handle so much data?

AI applications require vast amounts of data to learn and improve, and the quality of the data is crucial to the success of these applications. That's where Scale AI comes in.



Scale AI is a startup specializing in data labeling, helping machine learning teams generate high-quality ground truth data. By providing expert data labeling services, Scale AI enables companies like Lyft, OpenAI, Zoox, Pinterest, and Airbnb to focus on product development rather than spending valuable time labeling and identifying data.

Managing data effectively is one of the most significant challenges companies face in developing AI applications. To help companies address this challenge, Scale AI has developed Nucleus, a platform that streamlines data management and optimizes data quality before submission for labeling.

With ready-made solutions across multiple fields, including autonomous cars, drones, content and language, document processing, retail and e-commerce, robotics, and government, Nucleus helps companies to manage their data more efficiently and effectively.

Find out more about in our dedicated article about ScaleAI!

Standard AI and autonomous future

Standard AI is transforming the retail industry with its cutting-edge autonomous cash register technology. By utilizing AI-powered video cameras to track shoppers' movements, customers no longer need to scan products or waste time waiting in long checkout lines. This technology improves customer service, reduces staffing costs, and increases business margins for retailers.



Compared to competitors like Amazon, Standard Cognition's approach is more straightforward and cost-effective. The company's technology relies solely on cameras and requires no costly upgrades, making it an attractive option for small and medium-sized businesses.

Standard AI was founded in 2017 in San Francisco by a team of seven entrepreneurs with experience in video game development, machine learning, and 3D modeling. Two founders have previously worked in the quantitative analysis department for the US Securities and Exchange Commission (SEC).

The board of directors also includes three partners from the funds that invested in the company, including Soft Bank, CRV, and EQT ventures.

Last year, Standard AI introduced a new version of its platform for stores without cash registers Vision OS.

The platform can recognize purchased items, write electronic checks, and give retailers real-time information about the store and customers.

Standard AI smart cameras determine which products are running out of shelves, whether the layout of goods is broken, etc., helping staff to work more efficiently.

Retailers also get analytics — how customers move inside the store and choose products — and can improve operational processes.

In February 2023, Standard AI absorbed the Skip startup for self-service cash registers.

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Sift and creation of a trustworthy internet.

Sift is a leading provider of fraud detection and prevention solutions, helping businesses in various industries such as e-commerce, financial services, travel, and marketplaces. By combining big data and machine learning, Sift can analyze vast amounts of information and identify patterns that help detect fake accounts, payment fraud, account takeovers, and content abuse.

The company's cutting-edge technology enables businesses to protect their customers' data and prevent fraudulent activities, enhancing customer trust and loyalty. Sift's innovative approach to fraud detection has earned it recognition from industry experts, and its solutions are trusted by many leading companies worldwide. With Sift's advanced technology and expertise, businesses can safeguard their assets and minimize the risks of fraudulent activities.

The global fraud detection and prevention market is on the rise, with a compound annual growth rate (CAGR) of 15.4% from 2021 to 2028, according to a recent GrandViewResearch report.

Global fraud detection and prevention market size

In 2020, the market size was valued at $20.98 billion, with the large enterprise segment accounting for the largest revenue share of over 74%. However, the pandemic has stimulated cybersecurity concerns among SMEs, leading to an estimated increase in the adoption of fraud detection and prevention solutions in smaller businesses.

In 2020, PwC surveyed over 5,000 respondents across 99 global territories and found that 47% had suffered at least one form of fraud in the prior 24 months, costing businesses worldwide $42 billion. Common types of fraud include customer fraud and cybercrime. Key market players in the fraud detection and prevention market include IBM, Oracle, SAP, Total System Services, and Fiserv. With the increasing need for robust fraud detection and prevention solutions, the market is set to grow even further in the coming years.

Sift has kept up with its competitors and market needs by expanding its offerings through strategic acquisitions. In April 2021, Sift completed a funding round and acquired Chargeback, a move that enabled the company to offer a broader solution for e-commerce. Although the deal amount remains undisclosed, the acquisition has helped Sift enhance its capabilities and offer a more comprehensive solution to its clients.

Sift funding rounds

In November 2021, Sift acquired Keyless to offer a secure and passwordless authentication for enterprises and online shops, further expanding its product offerings. The company plans to leverage its new capital to expand its product portfolio and scale its product, engineering, and sales teams.

In March 2023, Sift announced that it now processes more than one trillion (1T) events per year within its global data network. The network represents shared signals from Sift’s consortium of customers that feed into Sift's machine-learning models.

These moves reflect Sift's commitment to delivering innovative solutions that help businesses protect themselves against fraudulent activities and enhance their customers' trust and loyalty. With its focus on innovation and growth, Sift is well-positioned to lead the market in fraud detection and prevention solutions.

What's next?

As AI continues to evolve, the possibilities for its applications and impact on our lives are truly endless. While AI development brings incredible benefits, we must also be mindful of the potential ethical implications that may arise.

As we continue to advance and integrate AI into our world, we must do so responsibly and thoughtfully, considering the impact on society.

By prioritizing the development of AI in a way that benefits society as a whole, these companies are setting a positive example for the industry and helping ensure that AI's future is safe, ethical, and equitable.

The companies mentioned in this blog post are all actively working to align their missions with the statement that AI should be used to benefit humanity in a safe and ethical way.

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