Yet as anyone who has experienced writer’s block can attest, writing can be a frustrating experience. The act of translating inchoate thoughts into well-crafted language—of finding the right words—can be time-consuming and unsystematic. In today’s information-based economy, perhaps no skill matters more than effective writing. Primer is an older competitor in this space, founded two years before the invention of the transformer. We have a simple pricing model based on questions asked, refer to our Pricing page to learn more.
The company raised a Series A and a Series B in quick succession last year from top venture capitalists. The leading startup building mental health chatbot technology is Woebot, which has raised close to $150 million to date from investors including NEA and Temasek. Woebot emphasizes that its conversational AI is grounded in clinically validated therapeutic approaches including Cognitive Behavioral Therapy . The final category of NLP startups in this article is the only one oriented around a specific industry vertical. From chatbots to search, it turns out that most language AI capabilities have broad horizontal applicability across industries.
(The latter is the subset of the former that is spread to deceive intentionally.) Its platform relies on a large team of expert human reviewers working in tandem with its AI system. Many of Logically’s clients are governments, which use its technology for issues including national security, election integrity and COVID-19 misinformation. Co-founded by AI legend Sebastian Thrun (the creator of Google X and Google’s self-driving car program) and two of his Stanford PhD students, Cresta is the most pedigreed competitor in this category.
Otter.ai offers a collaborative note-taking app that makes important information from voice conversations including meetings, interviews, and lectures instantly accessible and actionable. The company’s award-winning product, Otter Voice Notes, is used by business professionals, journalists, and students to generate rich notes that can be easily searched and shared. Otter is based on proprietary technologies for speech recognition, speaker separation, speaker ID, and keyword/topic extraction. A less common approach is to develop contact center AI purpose-built for a particular vertical. This is the approach taken by BirchAI, a young startup that recently spun out of the Allen Institute for AI . BirchAI has built a cutting-edge NLP solution focused on contact centers in healthcare.
The company’s target customers include health insurers, pharmaceutical companies and medical device companies. Last month, contact center AI startup Uniphore raised a $400 million round from NEA that valued the company at $2.5 billion. A few weeks later, direct competitor Cresta announced an $80 million fundraise led by Tiger Global at a $1.6 billion valuation.
But significant opportunities also exist for startups in the fast-changing world of language translation. All four of the companies mentioned so far use AI primarily to provide recommendations and insights on existing text that humans have already written. The next frontier in AI-augmented writing will be for the AI to generate novel written content itself based on guidance from the human user. Challenging Google directly will, to state the obvious, be an uphill battle. There is also significant opportunity for startups in search beyond the consumer internet search market with which Google has become synonymous.
According to the company, its technology boosts average revenue per sales rep by 27%, translating into massive ROI for its customers. Founded in 2009, Grammarly has admirably remained abreast of the latest NLP technologies over the years. The company raised funding late last year at a whopping $13 billion valuation. Grammarly’s product provides automated recommendations for improved spelling, grammar, diction and phrasing in real-time as users write. A nascent ecosystem of startups is at the vanguard of this technology revolution. These companies have begun to apply cutting-edge NLP across sectors with a wide range of different product visions and business models.
Yet by most accounts, the core NLP in Gong’s product offering is not particularly advanced. It therefore is and must be at the heart of our efforts to build artificial intelligence. Your customers are being addressed in real time, AI Engine answers their questions and helps them with anything they need through a chat conversation. There is no one particular NLP “killer app” in healthcare; audio startup gives voice to chatbot rather, startups have identified a wide range of different use cases to which language AI can be valuably applied. From misinformation to cyberbullying to hate speech to scams, harmful online content is a massive and growing problem in today’s digital world. Given the size of the market, plenty of smaller startups have emerged with similar AI-driven product offerings.
An aiDriven chatbot contains a simple dashboard and different metrics for estimating results (e.g., chat volume, goal completion rate, fallback rate, or score of satisfaction) which are easy to interpret. Absolutely not, the only thing you need to do is import your data into the system, the rest is done automatically. In just one click connect to all of your content, import data from your website, databases, documents and CRM. MetaDialog can work easily with whatever tools you’re using, including Mailchimp, Zapier, Apify, Amplitude and many, many more.
Other startup competitors in this category include Observe.ai, whose product is oriented around post-conversation analytics rather than real-time coaching, and Level AI, which focuses on automating call center quality assurance. AI Rudder sells to customers in financial services and e-commerce, two industries that make extensive use of call centers. The pandemic has driven rapid growth for AI Rudder, whose revenue quadrupled last year. The company’s AI system can not only speak a wide range of different languages but can also adopt the appropriate regional accent depending on the caller. The leading player in this category is Moveworks, which raised a $200 million Series C from Tiger Global last year. Espressive claims that its chatbot platform can resolve between 50% and 70% of all employee helpdesk tickets without human assistance, recouping over a week of productivity per employee per year.
Founded by Richard Socher, former Chief Scientist at Salesforce and one of the world’s most widely cited NLP researchers, You.com is reconceptualizing the search engine from the ground up. Its product vision includes a horizontal layout, an emphasis on content summarization, audio startup gives voice to chatbot and above all, a commitment to user data privacy. Search has been dominated by a single player for so long that it is often seen as an unpromising or even irrelevant category for startups. But there is also tremendous opportunity in this category for younger startups.
Next-generation language AI is poised to make the leap from academic research to widespread real-world adoption, generating many billions of dollars of value and transforming entire industries in the years ahead. A handful of young startups have popped up that are nipping at Gong’s heels, though none have yet broken out. Yet certain repeatable principles and tactics do exist that, if systematized, can meaningfully improve a sales team’s performance. The interesting question—for Lilt and for the entire industry—is whether and how quickly the humans in the loop can be phased out in the years ahead. Language barriers are a fundamental impediment to international business and travel, costing untold billions in lost productivity every year. Next-generation NLP promises to transform how humans write, reconceptualizing one of civilization’s most basic and vital activities.