90+ Artificial Intelligence (AI) Startup Ideas for 2023
Artificial intelligence continues to transform various industries and aspects of our lives. After all, who hasn't given ChatGPT a shot for work or just out of curiosity?
AI's popularity among startups is growing, too, explaining why it's listed among the latest business trends. Have you noticed how many companies whose products initially had nothing to do with AI are incorporating the technology to enhance their products? And in many cases, the results are impressive.
The question remains whether the field is promising or the market is already overcrowded. Should those thinking about launching a startup go for creating AI products? On this page, we take a more in-depth look at AI, sharing some of the best AI business ideas.
AI Market Overview
According to the latest research on megatrends that'll mold the future decades up to 2050, artificial intelligence is among the major trends fueling the Technology and Innovation sector. The study states that AI is one of the frontier technologies that will experience a visible market value boost by 2030 (AI, in particular, is projected to grow 24 times).
Mentioning other curious finds, the resource mentions that a 2022 survey of experts revealed that people anticipate that AI will become as powerful as a human within the next one hundred years. In fact, more than half of the surveyed experts replied that they think AI will be able to complete any task better, faster, and cheaper than people already by 2061. Interestingly, the data also points out that China is a leading country in conducting AI research.
What's for ways to apply AI (apart from the prognosed growing number of self-driving cars, voice search adoption, and other evolution of things we're accustomed to using day-by-day), those who run companies believe that applying artificial intelligence software can be a wonderful way to optimize work processes. A survey showed that 64% of business owners think AI can boost productivity.
Moreover, a poll on AI adoption revealed that artificial intelligence is applied to fill labor and skill gaps. This includes automating repetitive tasks (65%), using no-code tools and low-code development to accelerate complex processes (35%), making HR and recruitment procedures more optimal (45%), and enhancing employee training (50%).
The same resource found that artificial intelligence is most used by companies to boost specific areas of work and business operations. These include such use cases as:
- automating IT and software engineering processes;
- strengthening security and threat detection;
- using it for financial planning;
- enhancing business analytics;
- applying it for sales marketing purposes;
- utilizing virtual assistants and conversational AI;
- and others.
Should You Develop an AI Product?
The market looks promising, indeed. There are plenty of business ideas using AI for making standalone tools or enhancing existing products.
But although it might sound exciting, developing a decent AI product isn't a piece of cake. Factual inaccuracies and other solution flaws can lead to user dissatisfaction.
Not to mention that it's only worth investing in product development after you've gone through the discovery phase and ensured there is demand for what you're planning to create. If you neglect the proof of concept process, you'll likely end up building something no one needs.
Remember that the startup failure rate is high, and many don't make it because they neglected to do their "homework" or rushed into development without thorough fact-checking. That's why it is vital to apply various market research methods and run experiments to test your ideas.
The bottom line is that taking a more strategic approach, working on feature prioritization, and making fundamental business decisions based on facts and validated hypotheses instead of guesses can make all the difference.
But before the planning, research, and execution phases begin, you need to come up with a great product idea, right? We have some thoughts on the matter and will gladly share artificial intelligence business ideas that you can consider.
90 AI Startup Ideas to Try in 2023
The product development life cycle begins with ideation. So, which artificial intelligence startup ideas are worth a try? Let's overview a few notable ones, including generative AI startup ideas.
1. AI for Data Reports and Dashboards
AI can be of great help with data reporting. It can assist with multiple tedious tasks dealing with manually turning piles of data and allows you to dodge such risks as missing out on an important discovery or opportunity. For enhanced data security and privacy in your AI operations, you can explore VPN solutions like Surfshark and FastestVPN, where you can read more about VPN technology and its applications. These are several tools you may build:
- real-time data reporting (generates the freshest and most relevant data as often as you need);
- AI data insights platform (pulls data from multiple sources, analyzes it, and generates insights);
- anomaly detection tool (constantly monitors data and alerts the team if some patterns are unusual);
- automated dashboard creation (data visualization tool for making graphs, charts, tables, and other visual data representation).
2. AI for Marketing and Data Analytics
AI can be helpful for various marketing purposes. It can aid in crafting more effective marketing campaigns, cutting costs, and making better strategic decisions. Here are a few AI business ideas in the marketing sector.
- target audience determination and segmentation;
- tools for monitoring customer behavior and preferences;
- AI tool for content optimization;
- paid advertisement process optimization and automation tool;
- AI for easing data analysis (i.e., data analytics for startups and large-sized businesses);
- predictive analytics tools (Brizo FoodMetrics);
- AI-powered data insights summarizer;
- AI guidance tools (e.g., for metrics, KPIs and OKRs);
- marketing workflow automation tools.
3. AI Tools for Generating Text and Other Content
AI is also getting more creative, and with the advancements in technology, the AI content generator can definitely assist in producing content, including videos and animations. You can, therefore, think about content-related AI ideas for business, as the technology is already capable of:
- making pitches to simplify brainstorming;
- answering questions to accelerate research;
- providing human-like text samples for articles, messages, captions, posts, emails, video scripts, stories, poems, and other types of written content.
Alternatively, you can take a detour here and create a tool for detecting AI content. Since many people started to excessively use artificial intelligence for such purposes, many are on the lookout for ways to spot content that was produced by a machine. Likewise, an AI tool for identifying copyright can be of interest to a wide audience, too.
4. AI in Design
Artificial intelligence can certainly streamline various design processes as well. There are no limits as to the extent of applicability of this technology, as it can be anything from designing a user interface to how a vehicle or entire building will look after construction. Here are several suggestions for design AI startup ideas:
- UX/UI design generation (including wireframing, prototype creation, user story mapping, mockups, and other things);
- graphic design tools (making logos, icons, etc.);
- interior or garden design tools (for instance, for planning home renovation or for landscape designs);
- architectural planning tools (e.g., for blueprinting);
- AI 3D modeling (making models to visualize a product or object with a 360-degree view);
- fashion design tools (creating clothing sketches or 3D designs for accessories);
- among other design types.
5. AI for HR and Recruitment Process Enhancement
There are also numerous AI based startup ideas dealing with recruitment platforms and tools for HRs. For instance, the technology can remove tons of manual work, so you may consider making HR-tech software that can ease various hiring processes:
- tools for talent seeking, screening, and sourcing;
- reviewing CVs and portfolios;
- holding interviews;
- monitoring test assignment completion and assessment;
- documenting interview results and storing CVs;
- organizing employee onboarding;
- and many other procedures.
6. AI for Customer Support
Undoubtedly, artificial intelligence is a lifesaver for handling customer inquiries. As such, it helps optimize all kinds of client operations, for instance, by resolving low-complexity issues. It may use natural language processing (NLP) to generate responses to common questions, thus improving both resolution times and customer satisfaction. Bringing up specific startup ideas AI may help build a successful product in the customer support field:
- AI chatbot platforms for customer service;
- AI for recognizing customer emotions (can detect client emotional state during interactions and pass on this information to human client support agents);
- AI data entry automation tool (removes manual data entry work);
- AI-driven knowledge base (systemizes obtained knowledge from historical support interactions to assist customers faster);
- client feedback and sentiment analysis tools.
7. AI for Software Development
Artificial intelligence is learning the coding ropes, generating chunks of usable code based on the patterns of data they're trained on. Hence, developers may utilize AI's growing skills to speed up code creation, but it doesn't stop there, as the number of no-code and low-code tool options backed by artificial intelligence is growing, too. Here are a couple of AI startup ideas for the IT sector:
- front-end and back-end code generation tools (can make suggestions on how to complete code to boost productivity);
- AI code review tool (looks through written code and its adherence to the standards, notifies about possible flaws to improve quality);
- AI quality assurance tool (can handle QA software testing to detect bugs and inefficiencies);
- AI page builder tool (for example, AI for building landing pages);
- documentation generation tool (puts together tech documentation based on the solution and its codebase, automatically updates it to keep it relevant).
8. AI Team Collaboration Software
Keeping teams on the same page and having people work effectively no matter where they are can make a big difference for business. That's why collaboration software can be among the AI business ideas to think about building:
- AI-powered project management tool (for intelligent workflow automation, tracking progress, analyzing team communication, identifying gaps, etc.);
- AI tools for summarizing meeting notes;
- AI-backed ecosystem for team collaboration;
- virtual team assistant (can schedule meetings, help manage calendars, notify teammates with reminders);
- AI document collaboration tool (for editing, formatting, organizing, and categorizing work files);
- AI-driven knowledge base creation tool (collects, analyzes, and organizes company knowledge from research, customer support queries, etc.).
9. AI-Backed Cybersecurity Products
Data safety is a major concern for most modern businesses. Therefore, companies apply artificial intelligence to guard sensitive data. Let's overview some AI related startup ideas dealing with cybersecurity:
- tools for data and security breach prevention;
- malware and vulnerability protection tools;
- AI-powered data accessibility tools;
- AI cyber threat, data phishing, and fraud detection tools.
10. AI for Healthcare
The medical industry could also take advantage of artificial intelligence. Mentioning several MedTech and healthcare AI ideas for startup creation:
- diagnostics and risk detection software;
- AI medical research tools;
- remote monitoring, virtual health, and telehealth software;
- pharmaceutical and drug discovery tools;
- patient data AI analysis;
- patient care and treatment planning tools;
- electronic health record keeping;
- AI health-tracking tools;
- AI for medical aesthetics (e.g., skincare and analysis tool or other beauty-related usage).
11. AI in Education
Artificial intelligence is also widely applicable for building AI-powered learning tools. Online educational platforms and academic apps use this technology to analyze the behavior of learners and adapt to their individual styles. This allows to personalize the experience of obtaining new skills, knowledge, and training. Here are a few e-learning artificial intelligence business ideas and products you can consider building:
- tools for making quizzes and skill assessments;
- interactive learning experience tools;
- crafting personalized materials, lesson plans, and other assets;
- e-learning tools for getting an AI tutor.
12. AI Assistants
Once again, natural language processing can step in to simplify our everyday life. By building a chatbot that uses conversational AI and processes human queries in a dialogue format, an AI personal assistant may help people by scheduling things, making reminders, and running various errands (from turning on music and paying your bills to booking a hotel and shopping for groceries). Although Alexa and Siri are already out there, your startup may focus on a specific niche and train AI to fulfill tasks as a standalone professional.
13. AI for Making Games and Virtual Worlds
The entertainment sector is also undergoing a transformation thanks to AI. As such, it's influencing the gaming sector, for example, by helping people come up with virtual spaces, game rooms, and even character designs for video games. Similarly, AI-powered virtual reality (VR) platforms provide users with an immersive experience as they explore new environments and locations.
14. AI in the Financial Sector
Robotic process automation and artificial intelligence contribute to the enhancement of finance-related processes. They allow people to avoid mistakes, make more concise projections, and improve money management. Here are several finance AI business ideas:
- repetitive financial task automation tools (e.g., creating a fintech app for processing invoices or making recurring payments);
- AI budget planner (for instance, by quarter, by department, etc.);
- AI-powered accounting tools (for example, for issuing payrolls, calculating bonuses, and doing taxes);
- equity management tools;
- investment advisor software;
- resource usage tracking tools (this may include not only money but also used energy and other utility and operation costs that can be reduced to save the budget).
15. AI in Logistics, Supply Chain and Inventory Management
Such intricate and tangled spheres as logistics and supply chain management can definitely use artificial intelligence as leverage. Because data accuracy is vital, using such tools can result in prominent business benefits. Here are a few AI business ideas in these segments:
- software for boosting supply chain visibility with AI;
- tools for tracking and monitoring inventory and warehouses;
- inventory forecasting tool;
- disruption prediction tool;
- tools for calculating more optimal routes (and other ways to cut costs);
- equipment maintenance and tracking tools.
16. AI in Online Retail
The e-commerce sector is also benefiting from artificial intelligence. As such, customers can get suggestions from AI shopping assistants that may pitch goods based on the user's personal tastes. By analyzing the preferences of each individual, the AI personal shopper can bring a visible boost to retail and online sales, increasing user satisfaction, brand loyalty, the average check, and, consequently, ROI. What's for other artificial intelligence startup ideas in this segment, you may build:
- AI tools for pricing products;
- AI data collection tools from IoT devices;
- tools to enhance the experience with visual search, voice search, and others.
17. AI in Fitness and Wellness
Similarly, artificial intelligence may also revolutionize the fitness industry. There are multiple separate tools that can be made alongside enhancements for created fitness apps, including:
- personalized fitness AI guidance (e.g., an assistant that could track fitness goals and progress, give advice, etc.);
- AI coaching platform (it may apply data analytics to craft personalized wellness plans and motivate you);
- immersive fitness experience software (uses virtual reality to enhance workouts);
- AI injury prevention tool (software that identifies potential risks of injury during workouts in real-time and makes suggestions on corrective exercises);
- AI nutrition planner (apply AI to provide nutrition advice and plans based on individual dietary habits, restrictions, allergies, etc.).
18. AI Photo and Image Editors
Taking quality photos has become much simpler (just take the advancement of mobile cameras as an instance). So, one of the product options where artificial intelligence can be useful is making a photo editor. Such an AI picture editor app can utilize AI to retouch the image, saving lots of time on manual work.
19. AI for Creating Art
Artificial intelligence has been impressing people around the globe with its talent to create original artwork, too. Therefore, you could consider various business ideas AI can enhance in the art sector. This can include AI art creation software like graphic tools, image generation, color palette suggestion tools, and others.
20. AI for Composing Music
Generative AI may also be handy as an AI music production tool as artificial intelligence is able to come up with new music pieces, original compositions, melodies, and even complete tracks.
How Upsilon Can Help Bring Your AI Business Ideas to Life
Many business owners see AI SaaS ideas as a way to improve operational efficiency, reduce expenses, acquire a competitive edge, and address the changing needs of the market. That's why building such products might as well be worth a try. But the question is, "how"?
Upsilon can be the tech partner to lend you a helping hand with project execution. Our extensive experience working with startups stretches for over a decade, and we've helped many companies turn their ideas into reality and then scale these products onward.
As a digital product studio, we understand the unique challenges that startups face. Our team can help you all the way from the discovery stage, prototyping, MVP design, and other procedures of building an MVP. On average, it takes about three months, so you can test your hypotheses with a functioning product in no time.
We treat your product like it's our own, tailoring the solution to align with your business goals and vision. So, you may count on our team's comprehensive support and guidance throughout the entire process. If you'd like to discuss your project, don't hesitate to contact us!
Major Takeaways on Artificial Intelligence Startup Ideas
AI technology is continuously maturing and getting broader acceptance in various fields. It does a lot of the heavy lifting, freeing our hands both professionally and in everyday life. Artificial intelligence boosts efficiency, helps us cut back on human errors, and lets us save money and time.
It's a promising niche that provides many business opportunities, yet it may pose challenges when it comes to product creation. Hence, evaluating the feasibility of the AI product ideas you like, ensuring market demand, and studying the potential competition are integral before you take action and pursue any given idea.
If you have a project in mind and need an experienced tech team to make it happen, Upsilon will gladly assist you. So feel free to turn to us for MVP development services for startups!