Bilanz magazine ranked e-bot7 amongst the top 10 AI start-ups
The founders of e-bot7 Fabian Beringer, Xaver Lehmann and Maximilian Gerer (from left to right).
Under the motto invent the future BILANZ Magazine has selected the best 10 AI start-ups which developed outstanding innovations, are growing rapidly and found financially strong investors.
Artificial Intelligence is the new electricity,” says Andrew Ng, one of the world’s most respected scientists in this discipline. We can’t even imagine how AI will affect our daily lives over the next ten years.
As a basic or universal technique, at human discretion, it has the potential to offer an almost unlimited number of applications, to enhance human capabilities, improve the quality of goods and services, make operations more economical, convenient and environmentally friendly, and ultimately free people from many unloved and arduous tasks.
As one of the top 10 AI start-ups, e-bot7 has focused on increasing the efficiency in customer service. Whether it’s the railways or banks, customer advisors in one industry often read the same questions and write the same answers. A sophisticated dialogue system from the Munich start-up e-bot7 can take over these routines. The software understands simple texts and answers them independently or forwards them to a suitable expert.
The Chatbot is trained with question answer tables of earlier dialogues, which exist in the respective enterprises and with all new cases the system learns during the process. The reliability of the system is very high with over 97%. The e-bot7 software does not only understand the language, but it can recognise sentiments from the written language of the customer as well and react accordingly. Several large companies are now part of their clientele.
Founded in 2016 by the childhood friends Fabian Beringer, Xaver Lehmann and Maximilian Gerer, e-bot 7 employs 30 people today. The next goal is an international expansion: the AI systems new languages that can be learned from AI systems in a week. Financing is secured.
A few weeks ago, the Applied AI initiative of Unternehmertum GmbH, the Centre for Start-ups and Innovation at the Technical University of Munich, took stock of the local scene and counted a total of 214 KI start-ups, most of them quite small by international standards and still poorly financed, and most of them located in the start-up centres of Berlin and Munich.
214 is not an overly impressive figure. But at least it is rising rapidly, by 62% last year alone. Nevertheless, more commitment is needed in Germany, says Andreas Liebl, head of Applied AI. After all, it is in the field of AI that start-ups are important drivers. But it is only in rare cases that the young companies are able to “train in this way”, he says, “that they are also internationally competitive in terms of the number of employees”. But on the one hand, there is a lack of skilled workers – an international problem – and on the other hand, there is a lack of money.
There is a notorious lack of venture capital in Germany. Since 2009, only 1.2 billion euros have been invested in all AI start-ups listed by Applied AI. Politicians are also doing too little: by 2025, the federal government intends to invest only three billion euros in AI funding. A grotesquely low amount by international standards: in China alone, Sensetime, a company specializing in facial recognition, has received more than 2.2 billion euros since 2017, including from Chinese venture capitalists and large companies such as Alibaba and Qualcomm.
Andreas Liebl says: “The increasing focus on Berlin and Munich shows that many regions find it difficult to create attractive framework conditions and really anchor AI as a technology of the future on a broad basis. After all, the number of AI companies dedicated to the important industries in Germany, manufacturing and production, transport and mobility, is growing. “The fact that start-ups are increasingly focusing on German core industries is good news,” says Andreas Liebl.
Another good news is that more and more local AI start-ups are also able to be seen internationally. They succeed in doing what the IT pioneer Alan Kay summed up in an aperçu: “The best way to predict the future is to invent it”.
Together with the Applied AI initiative, BILANZ has ten German AI start-ups that are among the most innovative, the country’s best-financed and fastest-growing economies.
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