The global artificial intelligence (AI) market was valued at $62.35 billion in 2020 and is expected to grow by more than 40% over the next six years. AI and its component technologies, such as machine learning, natural language processing, and object and voice recognition, can solve most business problems with incredible efficiency and accuracy. In this article, we evaluate the top 10 AI companies developing AI technology in 2024 and what makes them stand out in this competitive space.
Top 10 Best AI Companies 2024
Artificial intelligence (AI) allows machines to recognize, understand, process, and respond to input from the world around them, just like humans do. In recent years, AI has become increasingly sophisticated, thanks to the efforts of many major companies. According to the 2020 McKinsey Global Artificial Intelligence (AI) Survey, 50% of companies report using AI in at least one business function.
Use cases for this technology range from automated customer service to sales forecasting to healthcare innovation. Any task that involves large amounts of data processing or repetitive human tasks can benefit from AI. Let’s take a look at some of the top companies developing artificial intelligence and applying it to myriad use cases in 2024. They are one of the most preferred employers for AI professionals. The top 10 companies are listed below in alphabetical order.
1. Amazon
Headquarters and Locations: We are headquartered in Seattle, Washington, United States, with offices in several US cities and around the world. We have 235 offices around the world.
Overview: Amazon develops AI for speech recognition and cloud-based machine learning on Amazon Web Services (AWS). Founded in 1994, the company specializes in e-commerce and cloud technology. The company ventured into AI by launching voice recognition-enabled Alexa devices in 2015 and 2016. The company also runs an AI innovation competition with prizes up to $500,000. Amazon last reported annual revenue of $386 billion in 2020, which also includes revenue from AI.
Services Offered: Amazon provides the following core AI services to its customers:
- Customers can build custom solutions using ML on the AWS cloud.
- Provides a scalable and flexible framework for ML developers through SageMaker.
- Amazon Lex is the company’s conversational AI tool for chatbots.
Cost of service: SageMaker has a free tier for the first few months, followed by capacity-based pricing. Lex costs $0.004 per voice request and $0.00075 per text request.
What’s great: Amazon’s AI solutions guarantee proven results, as the company itself uses AI for its online shopping experience, Amazon Alexa service, and other products. And it’s designed to scale, thanks to the company’s industry-leading cloud infrastructure. If you’re new to AI, you can start your deployment with Amazon’s pre-built ML solutions through the Amazon SageMaker Jumpstart.
2. C3.ai
Headquarters: Headquartered in Redwood City, California, United States, C3.AI has five US offices in Chicago, Houston, New York City, Redwood City, and Washington, DC. We also have international offices in eight other countries.
Overview: C3.ai provides enterprise AI solutions that integrate data, build AI models, generate predictions, and run prebuilt or customized applications. Entrepreneur and American businessman Thomas Seibel founded C3 in 2009. The company filed for an initial public offering (IPO) in 2020. C3.AI’s last annual revenue was $183.2 million in 2021.
Services Provided: C3.ai provides the following services:
- Provides an end-to-end AI application development platform with a model-driven architecture.
- Provides data scientists with C3 AI Ex Makina, a no-code AI development platform.
- Customers can benefit from a suite of pre-built AI apps for industries such as manufacturing, financial services, and the public sector, or functional areas such as supply chain management and customer management.
Cost of services: Most of its products are custom priced, but the C3 AI Ex Makina platform starts at $25 per user per month.
What’s great: C3.AI meets the AI needs of enterprises at all levels of digital maturity. Its entry-level, no-code platform is transparently priced based on a software-as-a-service (SaaS) model. You can also develop highly complex applications using the company’s data integration and model manipulation studio.
3. DeepMind
Headquarters and Locations: In addition to our London headquarters, DeepMind has offices in Canada, France, and the United States.
Overview: DeepMind is an AI research and development company operating as a subsidiary of Alphabet. We are also developing AI for positive outcomes in healthcare. British academics Demis Hassabis, Shane Legg, and Mustafa Suleiman founded the company in 2010. The startup trained its AI algorithms on vintage games from the 1970s and 1980s, making them progressively more intelligent over time. Google acquired DeepMind in 2014 for $500 million. DeepMind’s last annual revenue in 2020 was $1.13 billion.
Services Provided: DeepMind provides the following services:
- Develop advanced AI that can take on human challenges, like winning at Go or understanding complex data structures like stories and family trees.
- Developing WaveNet voice technology that powers Google Assistant and the Google Cloud Platform.
- AlphaFold devices can accelerate medical research by studying 3D models of protein structures.
Cost of Services: The commercial cost of DeepMind’s services has not been disclosed.
What makes it great: DeepMind is engaged in fundamental research in the AGI segment and has made significant progress in this area. Its ML can be used with minimal supervision. The company also pays special attention to the safe and ethical use of AI.
4. H2O.ai
Headquarters and Locations: In addition to its Mountain View headquarters, H2O.ai has a US office in New York City and also has locations in Canada, India, Singapore, and the Czech Republic.
Overview: H2O.ai provides a cloud platform that democratizes AI through pre-built models, ready-to-use app stores, and low-code development. Founded in 2012, the company has raised $251.5 million in funding and is valued at $1.6 billion. The last two rounds were led by major banks (Commonwealth Bank of Australia and Goldman Sachs) and highlighted the company’s business in the financial services sector. The company has an estimated annual revenue of $47.4 million. H2O.ai is still in the funding phase, having raised $100 million in November 2021.
Services Offered: H2O.ai provides the following core services to its clients:
- Our flagship H2O.ai cloud platform lets you develop AI models and apps through automated machine learning (AutoML) capabilities.
- Customers can enhance their AI applications through the H2O.ai Feature Store.
- Provides ready-to-implement AI tools for document management that help classify documents, extract content, and label the extracted data.
Cost of service: An open source version is available for free, and commercial products have custom pricing.
What’s great: H2O.ai streamlines some of the most common challenges in AI development. For example, there are tools to check for feature drift to maintain model accuracy. It can also automatically detect biases in the application’s functionality. The company also offers forever-free AutoML tools for use in Hadoop, Spark, and Kubernetes environments.
5. IBM
Headquarters and Locations: The company is headquartered in Armonk, New York, United States, with offices in all major regions, including North America, Latin America, Europe, the Middle East, Africa, and Asia Pacific. In total, we have more than 130 offices in 97 countries.
Overview: IBM is primarily known for its proprietary AI engine, Watson, which is used in both research and commercial products. Providing AI for decision-making, language processing, and intelligent task automation. Initially, Watson was designed to compete with humans in games like Jeopardy. Today, Watson can be integrated into almost any workflow, from human resources to finance and supply chain management. The company’s final annual revenue in 2020 was $73.6 billion, of which the IBM Watson Health division’s revenue was approximately $1 billion.
Services Offered: IBM provides the following AI services:
- IBM has partnered with MIT to create Watson AI Labs for medical, security, and financial research.
- The company has specialized teams for AI hardware, AI testing, conversational AI, computer vision, explainable AI, and more than 10 other capabilities.
- Customers can leverage pre-built Watson apps for supply chain management, healthcare, human resources, business operations, and advertising.
Cost of services: IBM Watson Assistant costs $140 per month, and Watson Studio costs $99 per instance.
What’s cool: IBM Watson was designed to be the first AI system to answer questions in natural language. The company offers an extensive list of ready-to-use products based on Watson to ease your AI development and configuration needs. You can also choose between on-premises and cloud deployments.
6. Meta Platforms
Headquarters and Locations: Headquartered in Menlo Park, California, Meta Platform (formerly Facebook) has offices in more than 80 cities across North America, Latin America, Europe, the Middle East, Africa, and Asia Pacific.
Meta Platform develops immersive technologies and artificial intelligence for social media. There are many AI initiatives underway, from AI for natural interactions in virtual reality environments to AI detectors for harmful content.
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 unveiled an AI supercomputer that can work in hundreds of languages, develop augmented reality tools, and pave the way for the metaverse. The company last reported annual revenue of $85.97 billion in 2020.
Services Offered: Meta Platform provides the following AI services:
- The company is developing AI-based facial recognition that can be used on social media platforms.
- The Meta Platform’s AI enables more realistic interactions in augmented reality and virtual reality, which are part of Oculus products.
- We have recently developed an AI algorithm for hate speech detection based on a new architecture called Linformer. This manages the processing power requirement as the complexity and length of the input increase.
Cost of Services: Meta Platform’s social media services are free to consumers. Businesses can use AI for social media advertising with custom pricing models, with Oculus for Business pricing starting at $799.
What’s great: The company has open-sourced many of the tools, frameworks, and research materials it has developed over the years. AI developers can simply sign up on GitHub and leverage its open-source libraries to power more versatile and robust AI.
7. NICE
Headquarters and Locations: Headquartered in Ra’anana, Israel, NICE has offices across the Americas, Asia Pacific, Europe, the Middle East, and Africa (EMEA).
Overview: NICE develops AI technology for contact centers and customer experience management. The company is a customer relationship management (CRM) company that primarily focuses on data-driven operations. Apply AI to optimize contact centers, promote predictive decision-making, and help brands understand their customers. The company recently announced Enlighten, an AI tool that automates daily customer-facing tasks. The company last reported annual revenue of $1.65 billion in 2020.
Services Provided: NICE provides the following AI services:
- Providing CXOne SmartReach, a conversational AI system for proactive customer engagement.
- Helps embed AI-powered self-service throughout the customer journey.
- It also provides AI and ML-powered customer experience analytics to companies to identify opportunities and pain points.
Cost of service: The price of the flagship product, NICE CXone, has not been disclosed, but you do get access to a 60-day free trial.
What’s Great: NICE offers sophisticated turnkey products for businesses looking to implement AI to improve their customer experience. We use AI in a variety of ways, from conversational chatbots to journey analytics, AI-based call routing, and employee intelligence. AI has been seamlessly integrated into almost every product to deliver better business results.
8. OpenAI
Headquarters and Locations: In addition to our San Francisco headquarters, OpenAI also has offices in Chicago, Illinois.
Overview: OpenAI LP (a commercial company) develops artificial intelligence models that can be deployed via open-source APIs. This mainly includes AI-based languages and code generation. It is part of a non-profit organization called OpenAI Inc., which is a parent organization. Its founders include Tesla’s Elon Musk, YCombinator’s Samuel H. Altman, Stripe’s Greg Brockman, and several AI experts. In 2022, we launched a new learning model called InstructGPT.
The company has an estimated annual revenue of $27.4 million.
Services Offered: OpenAI offers the following AI services:
- Its AI technology is used in popular language analysis applications, like the new language app Duolingo.
- Assistive programming can be used to translate natural language into code for use cases.
- OpenAI can be leveraged for intelligent copywriting tools, text classification, translation, and other business problems related to natural language.
Cost of service: The OpenAI API (commercial use) price starts at $0.0008 per 1000 tokens. 1000 tokens equals approximately 750 words. Available in four models: Ada, Babbage, Curie, and Da Vinci.
What’s great about OpenAI? OpenAI’s free, open-source model has helped fuel innovation at Microsoft, IBM, Salesforce, Cisco, and Intel because of its scalability and high accuracy. A recently launched deep learning system called GPT-3 powers language autocompletion for both images and text.
9. SenseTime
Headquarters and Locations: In addition to our Hong Kong headquarters, SenseTime has several offices in China. We have branches in Indonesia, Japan, South Korea, the UAE, and many other countries.
About: SenseTime builds AI technology for business operations, smart cities, smart homes, and smart cars. The company was founded in 2014 by then-researchers Tang Xiao and Xu Li. He wrote several 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 annual revenue in 2020 was 3.4 billion yuan, or about $534 million.
Services Offered: SenseTime offers the following AI services:
- Its solution is built on the SenseCore universal AI infrastructure, which includes a hardware computing environment, a deep learning platform, and model libraries.
- Can be used for content-related tasks such as content creation and promotion.
- We have a wide range of products and services for smart living, ranging from AI in health care and self-driving cars to AI-based photo and video processing software.
Cost of services: Pricing for SenseTime is not disclosed, but you can sign up for a trial of most services.
What’s Great: SenseTime is a research-driven company and one of the largest companies in Asia in terms of revenue. We work closely with governments and businesses to improve efficiency through advanced computer vision. The company is currently one of the leading companies developing AI for smart cities, and its SenseFoundry Enterprise product makes these capabilities available through AI as a service.
10. Salesforce
Headquarters and Locations: Salesforce is headquartered in San Francisco, California, with more than 50 offices around the world in the United States, Asia Pacific, Latin America, and EMEA.
Overview: Salesforce develops artificial intelligence (AI) for customer relationship management (CRM). It is delivered as a built-in layer of intelligence within the Salesforce platform, powered by the Einstein AI Engine. Founded in 1999, the company has become synonymous with CRM, leveraging AI for almost every task. The company launched Salesforce Einstein in 2016 as “artificial intelligence for everyone” and continues to build technology with ethical considerations in mind. In 2021, Salesforce introduced the AI Ethics Model. The company’s last annual revenue in 2021 was $21.3 billion.
Services Offered: Salesforce provides the following core services to its customers:
- Artificial intelligence simplifies everyday CRM activities in Salesforce, like predicting the best time to send an email to a customer.
- The company’s Einstein Platform services enable developers to bring AI capabilities like image recognition, sentiment analysis, and intent analysis into Salesforce features with a single line of code.
Einstein can be used for two main use cases: image recognition to solve object-related problems and NLP for text-related use cases.
Service Cost: Salesforce Service Cloud Einstein (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.
The big deal: Salesforce lets you leverage AI in any way you want. Build an Einstein-based platform for your company. Alternatively, you can apply Einstein AI tools to specific CRM tasks like sales forecasting, engagement scoring, and product recommendations.
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Top 10 Best AI Companies Comparison 2024
In short, look at the comparison of the above company given
| Company | Offerings | Revenue | Cost of Services |
| Amazon | AI for voice recognition and cloud-based ML on the AWS platform | $386 billion in 2020 | Free tier for SageMaker, $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 development | $183.2 million in 2021 | $25 per month per user for C3 AI Ex Machina and custom pricing for all other services |
| DeepMind | AI research and development (a subsidiary of Alphabet) | $1.13 billion USD in 2020 | Commercial pricing is undisclosed |
| H2O.ai | AI cloud platform for AI democratization through pre-built models and app stores | $47.4 million; still in funding stage | Free usage of the open-source version and custom pricing for commercial services |
| IBM | Proprietary AI engine, Watson, for language processing, decision-making, and task automation | $73.6 billion in 2020 | $140 per month for IBM Watson Assistant and $99 per instance for Watson Studio |
| Meta Platforms | AI for immersive technology, social media content, and marketing | $85.97 billion in 2020 | Free usage of consumer products, $799 for Oculus for Business, and custom pricing for social media for businesses |
| NICE | AI-based contact center operations and customer experience management | $1.65 billion in 2020 | Pricing information is undisclosed; free trial is available for 60 days |
| OpenAI | Open-source for language and code generation | $27.4 million in 2020 | $0.0008 per 1000 tokens for the commercial version (four models available) |
| SenseTime | AI for business operations and smart living (cities, homes, vehicles, and healthcare) | 3.4 billion yuan or approximately $534 million in 2020 | Pricing information is undisclosed; trials are available on request |
| Salesforce | AI-based CRM and AI platform services | $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 |
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