As of 2018, there are very few industries or processes left which have not felt the disruptive touch of new technologies such as machine learning (ML) and AI. From helping to reimagine journalism to booking diners reservations in the best restaurants, startups in New York have been constantly revealing to us the true extent of what is possible through innovation.
In the lead up to this year's DATAx New York festival happening on December 12–13 at the Hilton Midtown, we present our pick of the top 10 startups in the New York area that have been truly embracing innovation.
1. Blink Health
Founded in 2014, Blink Health mission is to provide Americans with access to the cheapest medications possible. The US spends significantly more than any other country in the world on medication, with one report by The Wall Street Journal predicting that US residents will spend up to $610bn a year on meds by 2021.
To lessen some of the extreme financial pressure this has put on many citizens, Blink has negotiated a single, low price on more than 15,000 different medications and given users access to them through its proprietary technology. As the company puts it, "think of it as the cure for high drug prices".
Civil is utilizing the revolutionary and still somewhat mysterious power of blockchain technology to "revolutionize journalism". Civil, founded in 2017, believes the current, ad-driven revenue model of the news media is not only failing, but fundamentally unethical.
Civil connects journalists directly with readers through its decentralized app (dApp) on the blockchain network. Journalists can publish stories on it and earn money through the Civil platform, without worrying about middlemen diluting their priorities with their oppositional focus on making a profit.
Stash is a fintech company and one of the fastest growing investment apps in the world. Founded in 2015, Stash thinks everyone is capable of being an investor and works to simplify the investment market for the average user.
It provides users with "curated lists comprised of single stocks and investing themes that are well-known, approachable and straightforward".
Founded in 2014, HyperScience builds custom automation solutions for company processes by "turning your documents into machine-readable data". This means companies no longer need to enter into lengthy ML training sessions to utilize its benefits; instead, they can simply replace a manual task with an automated "drop-in replacement".
HyperScience believes that by integrating ML into everyday process this way, it frees its customers from "their reliance on manual data entry and allows them to do business better, faster and cheaper".
The Resy Network has leveraged technology to disrupt the archaic dinner reservation system we are all used to. Through its mobile app, users can get reservations to some of their town's hottest spots with relative ease and the company currently boasts a network of more than 10,000 restaurants worldwide.
Founded in 2014, the company has so far raised $15m in funding, all by addressing one fundamental question. As the firm puts it, "the idea that you have to plan way in advance or jump through hurdles to eat at the city's best restaurants is absurd".
mParticle is a dream tool for marketers. Founded in 2012, mParticle collects and collates all of its user's data from different streams into one simplified data platform. The company claims its platform is used by some of the biggest, most sophisticated marketing teams in the world, including the likes of Walmart, Starwood, NBCUniversal, Spotify and Airbnb.
By analyzing disparate streams of data in one platform, it allows marketeers to more effectively recognize patterns and trends and never miss out on an "opportunity to impress" again.
Originally founded in 2012 in Tel Aviv, Riskified is an e-commerce antifraud company designed for merchants. It actively reviews a merchant's e-commerce orders and without slowing down the process it "provides instant decisions and assumes full responsibility by covering every approval with [its] chargeback guarantee".
The firm, now based in New York, accomplishes this through its "self-optimizing machine learning models" which it uses to track the differences in online behavior between average customers and fraudsters. This level of invisible, frictionless protection has helped the startup raise a total of $63.7m in funding so far.
Reonomy has been designed to demystify some one of the world's most complex markets, commercial real estate industry. Founded in 2013, Reonomy utilizes "the world of property, people and company data" to produce valuable analytics to help make better, more informed real estate decisions.
The startup has a number of platforms for users such as Reonomy OffMarket, Reonomy Prospect and Reonomy Comps which all serve different market purposes. The company made the news in June this year when it raised $30m in funding primarily from SoftBank investors which brought the company's total money raised to $68.4m.
Meero, founded in 2016, is an AI-powered tool designed to help photographers, specifically those working within the real estate market. Through its platform, not only can you significantly reduce the time it takes to edit photographs to a professional level, but it connects photographers and clients in a worldwide network.
The company has embraced by more than 100 companies through its innovative use of ML to both augment its editing process and its networkability. Some of its more well-known clients include Airbnb, Just Eat, Expedia, Trivago and Uber.
Clarifai is a computer vision platform capable of refining and automating processes in ecommerce stores. The platform transforms processes such as visual search, the organization of media, recommendations and discovery into smart applications, while also generating customer insights by studying buying behaviors.
Founded in 2013, the Clarifai API can be integrated into merchant e-stores and its advanced image recognition system can detect duplicates in searches and can help in the organization of large uncategorized databases.
To have the chance to be a part of December's monumental data extravaganza, visit DATAx New York, which takes place at Hilton Midtown on December 12–13, 2018.
Check out the full agenda, speaker list and buy your tickets HERE.