Valued at $62.35 billion in 2020, the global artificial intelligence (AI) market will grow by over 40% in the next six years. AI and its component technologies like machine learning, natural language processing, and object and voice recognition can solve the vast majority of business problems with an incredible degree of efficiency and accuracy. This article evaluates the top 10 companies developing AI technology in 2022 and why they stand out in this competitive space.Â
Artificial intelligence (AI) enables machines to perceive, understand, process, and respond to inputs from the world around them just like human beings. Over the last few years, AI has become increasingly more sophisticated because of the efforts of a few leading companies. According to the 2020 McKinsey Global Survey on Artificial Intelligence (AI), 50% of companies have reported using AI in at least one business function.Â
Use cases for this technology range from automated customer service to predictive sales forecasting and healthcare innovations. Any task that involves high volume data processing or iterative human efforts can gain from AI. Let’s look at some of the top-most companies engaged in developing artificial intelligence in 2022 which apply the technology to myriad use cases. They are also among the most preferred employers for AI professionals. Here are the top 10 companies listed in alphabetical order.Â
Headquarters and locations: With its headquarters in Seattle, Washington, U.S, the company has offices in a number of U.S. cities and around the world. It has 235 offices worldwide.Â
Overview: Amazon develops AI for voice recognition and cloud-based machine learning on Amazon Web Services (AWS). Founded in 1994, the company specializes in ecommerce and cloud technology. It ventured into AI in 2015-2016, when it launched its voice recognition-enabled range of Alexa devices. The company also conducts an AI innovation contest with prizes up to $500,000. Amazon’s last reported annual revenue for 2020 was $386 billion, which includes revenues from AI.Â
Services offered: Amazon provides its customers with the following core AI services:
- Customers can use ML on the AWS cloud to build custom solutions.Â
- It provides a scalable and flexible framework for ML developers through SageMaker.Â
- Amazon Lex is the company’s conversational AI tool for chatbots.
Cost of services: SageMaker has a free tier for the first few months and follows capacity-based pricing thereafter. Lex costs $0.004 per speech request and $0.00075 per text request.
What makes it the best: Amazon’s AI solutions assure proven outcomes, as the company itself uses AI for its online shopping experience, Amazon Alexa offerings, and other products. It is also designed for scale, thanks to the company’s industry-leading cloud infrastructure. Those new to AI can kickstart deployment using Amazon’s pre-built ML solutions via Amazon SageMaker JumpStart.
Headquarters and : With its headquarters in Redwood City, California, U.S, C3.ai has five U.S. offices across Chicago, Houston, New York City, Redwood City, and Washington D.C. It also has international offices in eight other countries.Â
Overview: C3.ai provides enterprise AI solutions to consolidate data, build AI models, generate predictions, and execute pre-built or customized applications. Entrepreneur and American businessman, Thomas Siebel, founded C3 in 2009. The company filed for an initial public offering (IPO) in 2020. C3.ai’s last reported annual revenue for 2021 was $183.2 million.Â
Services offered: C3.ai offers the following services:
- It offers an end-to-end AI application development platform with a model-driven architecture.Â
- It provides data scientists with a no-code AI development platform, C3 AI Ex Machina.Â
- Customers can gain from a suite of pre-built AI apps for industries like manufacturing, financial services, and the public sector, or for functional verticals like supply chain management and customer management.Â
Cost of services: Most of its offerings are custom priced, while the C3 AI Ex Machina platform starts at $25 per user per month.
What makes it the best: C3.ai caters to enterprise AI requirements at every level of digital maturity. Its entry-level, no-code platform is transparently priced on a software as a service (SaaS) model. You can also develop highly complex applications using the company’s data integration and model ops studio.Â
Headquarters and locations: In addition to its London headquarters, DeepMind has offices in Canada, France, and the U.S.Â
Overview: DeepMind is an AI research and development company that operates as a subsidiary of Alphabet. It also develops AI for positive outcomes in the healthcare sector. British academics Demis Hassabis, Shane Legg, and Mustafa Suleyman founded the company in 2010. The startup trained its AI algorithms on old games from the â€˜70s and â€˜80s to make it incrementally more intelligent over time. Google acquired DeepMind for $500 million in 2014. DeepMind’s last reported annual revenue for 2020 was $1.13 billion.
Services offered: DeepMind provides the following services:
- It develops advanced AI that can take on human challenges, such as winning in a game of Go or understanding complex data structures like stories and family trees.Â
- It develops the WaveNet voice technology, which powers Google Assistant and the Google Cloud Platform.Â
- Its AlphaFold tool can study 3D models of protein structures to accelerate medical research.Â
Cost of services: The commercial cost of DeepMind’s services is undisclosed.Â
What makes it the best: DeepMind is engaged in foundational research in the AGI segment and has made major strides in this domain. Its ML can be used with minimal supervision. The company also pays special attention to safe and ethical AI use.Â
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Headquarters and locations: Apart from the Mountain View headquarters, H2O.ai has U.S. offices in New York City as well as a presence in Canada, India, Singapore, and the Czech Republic.Â
Overview: H2O.ai provides a cloud platform that democratizes AI through pre-built models, a ready-to-use app store, and low-code development. Founded in 2012, the company has raised $251.5 million in funding to date and is valued at $1.6 billion. Its two last rounds were led by large banks (the Commonwealth Bank of Australia and Goldman Sachs), underscoring the company’s operations in the financial services domain. The company’s estimated annual revenue is $47.4 million. H2O.ai is still in the funding stage, having recently raised $100 million in November 2021.Â
Services offered: H2O.ai provides its customers with the following core services:
- The flagship H2O.ai cloud platform lets you develop AI models and apps through its automated machine learning (autoML) capabilities.
- Customers can improve their AI applications through the H2O.ai Feature Store.Â
- It offers a ready-to-implement AI tool for document management that classifies documents, extracts content, and helps label the extracted data.
Cost of services: It has an open-source version that you can use for free, and commercial offerings are custom-priced.Â
What makes it the best: H2O.ai streamlines several of the most common challenges in AI development. For instance, it has tools to check feature drift so that your models remain accurate. It can also automatically detect bias in application features. The company also offers a free-forever autoML tool that can be used in Hadoop, Spark, and Kubernetes environments.Â
Headquarters and locations: The company is headquartered in Armonk, New York, U.S. ItÂ has offices in all major regions, including North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. In total, it has 130+ offices in 97 countries.Â
Overview: IBM is primarily known for its proprietary AI engine, Watson, which is used in both research and commercial products. It offers AI for decision-making, language processing, and intelligent task automation. It initially designed Watson to compete with humans in games like Jeopardy. Today, Watson can be integrated into nearly every workflow, from HR to finance and supply chain management. The company’s last reported annual revenue for 2020 was $73.6 billion, of which the IBM Watson Health division generated approximately $1 billion.Â
Services offered: IBM provides the following AI services:
- IBM has partnered with MIT to build the Watson AI lab for healthcare, security, and finance research.Â
- The company has dedicated teams to cater to AI hardware, AI testing, conversational AI, computer vision, explainable AI, and 10+ other functions.Â
- Customers can gain from pre-built Watson apps for supply chain management, healthcare, HR, business operations, and advertising.Â
Cost of services: Pricing for IBM Watson Assistant starts at $140 per month, and pricing for Watson Studio starts at $99 per instance.Â
What makes it the best: IBM Watson was among the first-ever AI systems to be developed that could answer questions in a natural language. The company offers an extensive catalog of ready-to-use products based on Watson, reducing your AI development and configuration needs. It also allows you to choose between on-premise and cloud deployment.Â
6. Meta Platforms
Headquarters and locations: With headquarters in Menlo Park, California, U.S., Meta Platforms (formerly Facebook) has offices in 80+ cities across North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific regions.
Overview: Meta Platforms develops artificial intelligence for immersive technologies and social media. It has several AI initiatives in the works, from AI for naturalized interactions in virtual reality environments to AI detectors for harmful content.Â
Founded in 2004, the company has a long history of working with AI tools, using the technology to match people, products, and content. In addition to its existing capabilities, Meta recently announced an AI supercomputer that can work across hundreds of languages, develop augmented reality tools, and pave the way towards the metaverse. The company’s last reported annual revenue for 2020 was $85.97 billion.Â
Services offered: Meta Platforms provides the following AI services:
- The company develops AI-based face recognition for use across its social media platforms.Â
- Meta Platforms’ AI enables more realistic interactions in augmented and virtual reality, part of its Oculus offerings.Â
- It recently developed an AI algorithm for hate speech recognition based on a new architecture called Linformer, which manages the need for processing power as the complexity and length of input increases.Â
Cost of services: Meta Platforms’ social media offerings are free for consumers. Businesses can use its AI for social media advertising on a custom-priced model, and Oculus for Business starts at $799.Â
What makes it the best: The company has open-sourced several tools, frameworks, and research material it has developed over the years. AI developers can rely on its open-source library to power more versatile and robust AI by simply signing up for GitHub.Â
Headquarters and locations: With headquarters in Ra’anana, Israel, NICE has offices in the Americas, Asia Pacific region, and across Europe, the Middle East, and Africa (EMEA).Â
Overview: NICE develops AI technology for contact centers and customer experience management. It is primarily a customer relationship management (CRM) company focusing on data-driven operations. It applies AI to optimize contact centers, drive predictive decision-making, and help brands understand their customers. The company recently announced the Enlighten AI tool that automates everyday customer-facing tasks. The company’s last reported annual revenue for 2020 was $1.65 billion.Â
Services offered: NICE provides the following AI services:
- It offers CXone SmartReach, a conversational AI system for proactive customer engagement.Â
- It helps incorporate AI-driven self-service across the customer journey.Â
- It also provides enterprises with AI and ML-driven customer experience analytics to identify opportunities and pain points.Â
Cost of services: Pricing for its flagship product, NICE CXone, is undisclosed, but you can access a free trial for 60 days.Â
What makes it the best: NICE offers a sophisticated and turnkey product for enterprises looking to adopt AI to improve customer experiences. It uses AI in various ways, from conversational chatbots to journey analytics, from AI-based call routing to workforce intelligence. Almost all its products incorporate AI seamlessly, providing you with better business outcomes.Â
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Headquarters and locations: In addition to its San Francisco headquarters, OpenAI has an office in Chicago, Illinois.Â
Overview: OpenAI LP (a for-profit company) develops artificial intelligence models that can be deployed via open-source APIs. This primarily comprises AI-based language and code generation. It is part of the parent organization, a non-profit called OpenAI INC. Its founders include Elon Musk from Tesla, Samuel H. Altman from YCombinator, Greg Brockman from Stripe, and several AI specialists. It launched a new learning model in 2022 called InstructGPT.
The company’s estimated annual revenue is $27.4 million.Â
Services offered: OpenAI provides the following AI services:
- Its AI technology is used in popular language analysis applications, such as the new language app, Duolingo.Â
- It can be used to translate the natural language to code for assisted programming use cases.Â
- OpenAI can be leveraged for intelligent copywriting tools, text classification, translation, and other business problems related to a natural language.Â
Cost of services: Pricing for the OpenAI API (commercial usage) starts at $0.0008 perâ€Š1000 tokens, where 1000 tokens are equal to approximately 750 words. It is available in four models â€” Ada, Babbage, Curie, and Davinci.Â
What makes it the best: OpenAI’s free and open-source models have been instrumental in powering innovation at Microsoft, IBM, Salesforce, Cisco, and Intel, owing to its scalability and high accuracy. Its recently launched deep learning system called GPT-3 drives language auto-completion for both images and text.Â
Headquarters and locations: Along with its Hong Kong headquarters, SenseTime has multiple offices in China. It has branches in Indonesia, Japan, South Korea, the United Arab Emirates, and many other countries.Â
Overview: SenseTime builds AI technologies for business operations, smart cities, smart homes, and smart cars. The company was founded by Tang Xiao and Xu Li in 2014, who were both researchers at that time. They developed multiple white papers outlining the future possibilities of AI technology and eventually partnered with Qualcomm in 2017. The company is one of the founding members of the Global Artificial Intelligence Academic Alliance (GAIAA). Its last reported annual revenue for 2020 was 3.4 billion yuan or approximately $534 million.
Services offered: SenseTime provides the following AI services:
- Its solutions are built on the SenseCore universal AI infrastructure, which includes a hardware computing environment, a deep learning platform, and a model library.Â
- It can be used for content-related tasks like content generation and enhancement.Â
- It has a wide range of products and services for smart living, ranging from AI in healthcare, automated vehicles, and AI-based photo and video processing software.Â
Cost of services: Pricing for SenseTime is undisclosed but you can apply for a trial for most offerings.Â
What makes it the best: SenseTime is a research-driven company and is among the largest in Asia in terms of revenue. It partners closely with governments and companies to improve their efficiency through advanced computer visioning. It is one of the top companies developing AI for smart cities today, and its SenseFoundry Enterprise offering makes these capabilities available via AI as a Service.Â
Headquarters and locations: With headquarters in San Francisco, California, U.S., Salesforce has 50+ offices worldwide, spanning the U.S., Asia Pacific, Latin America, and EMEA regions.Â
Overview: Salesforce develops artificial intelligence for customer relationship management (CRM). This is delivered as an embedded layer of intelligence within the Salesforce platform, powered by its Einstein AI engine. Founded in 1999, the company has become almost synonymous with CRM and leverages AI for nearly every task. It launched Salesforce Einstein in 2016 as â€œartificial intelligence for everyoneâ€ and continues to build the technology while keeping in mind ethical considerations. In 2021, Salesforce debuted its AI Ethics model. The company’s last reported annual revenue for 2021 was $21.3 billion.
Services offered: Salesforce provides its customers with the following core services:
- Artificial intelligence simplifies everyday CRM activity on Salesforce, such as predicting the best time to send a customer email.Â
- The company’s Einstein Platform Services allow developers to introduce AI capabilities like image recognition, sentiment, and intent analysis into Salesforce features with a single line of code.Â
- Einstein can be leveraged for two main use cases â€” image recognition to solve object-related problems, and NLP for text-related use cases.Â
Cost of services: Salesforce Service Cloud Einstein (an AI CRM system) starts at $50 per user per month, Einstein Predictions starts at $75 per user per month, and Einstein Platform Services are custom priced.Â
What makes it the best: Salesforce provides the flexibility to leverage AI in any way you choose. You could build an Einstein-based platform tailored for your company. Or, you could implement Einstein AI tools for specific CRM tasks like sales forecasting, engagement scoring, product recommendations, and much more.Â
Let’s quickly look at the comparison of the above companies.
|Offerings||Revenue||Cost of services|
|AmazonÂ||AI for voice recognition and cloud-based ML on the AWS platformÂ||$386 billion in 2020||Free tier for SageMaker and $0.004 per speech request and $0.00075 per text demand for Amazon Lex|
|C3.ai||Enterprise AI for data consolidation and predictive AI app developmentÂ||$183.2 million in 2021||$25 per month per user for C3 AI Ex Machina and custom pricing for all other servicesÂ|
|DeepMind||AI research and development (a subsidiary of Alphabet)Â||$1.13 billion USD in 2020||Commercial pricing undisclosedÂ|
|H2O.ai||AI cloud platform for AI democratization through pre-built models and app storesÂ||$47.4 million; still in funding stage||Free usage of the open-source version and custom pricing for commercial servicesÂ|
|IBM||Proprietary AI engine, Watson, for language processing, decision-making, and task automationÂ||$73.6 billion in 2020||$140 per month for IBM Watson Assistant and $99 per instance for Watson StudioÂ|
|Meta Platforms||AI for immersive technology, social media content, and marketingÂ||$85.97 billion in 2020||Free usage of consumer products, $799 for Oculus for Business, and custom pricing for social media for businessesÂ|
|NICE||AI-based contact center operations and customer experience managementÂ||$1.65 billion in 2020||Pricing information undisclosed; free trial available for 60 daysÂ|
|OpenAI||Open-source for language and code generationÂ||$27.4 million in 2020||$0.0008 perâ€Š1000 tokens for the commercial version (four models available)Â|
|SenseTime||AI for business operations and smart living (cities, homes, vehicles, and healthcare)Â||3.4 billion yuan or approximately $534 million in 2020||Pricing information undisclosed; trial available on requestÂ|
|Salesforce||AI-based CRM and AI platform servicesÂ||$21.3 billion in 2021||$50 per user per month for Salesforce Service Cloud Einstein, $75 per user per month for Einstein Predictions, and custom pricing for Einstein Platform Services|
Artificial intelligence and related areas like machine learning are among the most in-demand technologies today. Gartner’s recent report titled Emerging Technologies: AI Technology Spending in 2021 â€” Survey Trends found that vendors are increasing their investment in AI. One in three technology providers will invest $1 million or more in AI to cater to enterprise demand in the next two years.Â
The industry, valued at $62.35 billion in 2020, is expected to grow at a staggering pace of 40.2% between 2021 and 2028, as per a study by Grand View Research. These ten companies are leading this wave with breakthrough AI innovations, practical applications for today’s most urgent business problems, and steadfast attention to AI ethics.Â
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