GLENDALE, Calif., March 3, 2020 /PRNewswire/ -- CB Insights today named Beyond Limits to the fourth annual AI 100 ranking, showcasing the 100 most promising private artificial intelligence companies in the world.
"It's been remarkable to see the success of the companies named to the Artificial Intelligence 100 over the last four years. The 2019 AI 100 saw 48 companies go on to raise $4.9B of additional financing and nine got acquired," said CB Insights CEO Anand Sanwal. "It has been gratifying to see that CB Insights' data-driven approach to identifying the top AI companies using patents, customer traction, investor quality, market sizing and more has become so effective at picking the AI winners of tomorrow. We look forward to seeing what the 2020 AI 100 companies will accomplish over the course of this year and beyond."
In addition to disrupting core sectors including healthcare, retail, and finance, the 2020 AI 100 companies are revamping the broader enterprise tech stack. These companies span the globe, from the US, UK, China, Chile, and South Africa, and are supported by more than 600 investors.
"Beyond Limits is very excited to be acknowledged by CB Insights," said Beyond Limits CEO AJ Abdallat. "It is especially meaningful to us that the recognition has come at this point in our growth; 2020 is going to be big year for Beyond Limits as we make significant strides toward global expansion to serve the energy industry and a variety of other sectors. We believe Beyond Limits' innovative and unique AI technologies are going to be a key component in reimagining and modernizing the energy industry - through advanced digitization we can create more intelligent, more efficient operations for a lower carbon future."
Through an evidence-based approach, the CB Insights research team selected the AI 100 from nearly 5,000 companies based on several factors including patent activity, investor quality, news sentiment analysis, proprietary Mosaic scores, market potential, partnerships, competitive landscape, team strength, and tech novelty. The Mosaic Score, based on CB Insights' algorithm, measures the overall health and growth potential of private companies to help predict a company's momentum.
Beyond Limits serves industrial customers with Cognitive AI systems designed to apply human-like expertise and reasoning to solve complex problems and provide cognitive and analytical horsepower that accelerates executive and operator decision-making. For example, in the energy sector, Beyond Limits is deploying new products for refinery optimization, managing upstream wells, assisting petroleum engineers in formulating lubricants products, and advising reservoir engineers on optimized well locations and in-fill well production rate prediction. Beyond Limits' systems utilize a hybrid approach that combines conventional machine learning and deep learning approaches with knowledge-based reasoning. The company has developed powerful Cognitive AI engines that leverage encoded expert knowledge and experience to provide clear, understandable solutions to important challenges facing heavy industries today. Unlike most "black box" AI techniques, Beyond Limits has pioneered "glass box" Explainable AI that yields recommendations that can be understood by people and interpreted by machines.
Quick facts on the 2020 AI 100:
- As of the end of February 2020, these 100 emerging private companies have raised over $7.4B in funding across 300+ deals from 600+ unique investors.
- There are 10 unicorns (companies valued over $1B) in this year's AI 100 cohort.
- The list spans across various industries, including healthcare, retail & warehouse, and finance & insurance.
- 13 countries, such as China, Sweden, and Japan, are represented on the ranking. The majority of startups (65%) are based in the United States.
About CB Insights
CB Insights helps the world's leading companies accelerate their digital strategy and transformation efforts with data, not opinion. Our Emerging Tech Insights Platform provides companies with actionable insights and tools to discover and manage their response to emerging technology and startups. To learn more, please visit www.cbinsights.com.
About Beyond Limits
Beyond Limits is a pioneering Artificial Intelligence engineering company creating advanced software systems that go beyond conventional AI. Founded in 2014, Beyond Limits is helping companies solve tough, complex, mission-critical problems and transform their business. The company applies a unique hybrid approach to AI, combining numeric AI techniques like machine learning with knowledge-based reasoning to produce actionable intelligence. The end result is faster, better decisions that reduce risk, decrease waste, and increase efficiency. For more information, please visit www.beyond.ai.
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