7 Top AI Companies to Watch in 2024
These are the top AI companies to watch in 2024 -- ones that could potentially challenge OpenAI.
December 28, 2023
This article originally appeared on AI Business.
In the rapidly evolving landscape of AI, keeping an eye on the frontrunners becomes essential. The year 2023 saw some major players emerge and established names challenged.
As we march into 2024, a year poised to witness further technological strides, certain AI companies are set to stand out not only for their groundbreaking solutions but also for their approaches toward a smarter future.
Here are AI Business’ top seven up-and-coming AI companies to watch in 2024. They were vetted to ensure they meet our strict criteria: They must be backed by a notable venture capitalist, angel investor or top-tier company; they must have been in operation for at least two years and the management team must have work or educational experience at renowned institutions.
#1 Anthropic
Founded by OpenAI alumni and siblings Dario and Daniela Amodei, Anthropic builds frontier AI systems with an emphasis on safety, reliability and interpretability. Widely considered a strong rival to OpenAI, its Claude family of large language models gives ChatGPT a run for the money. CEO Dario Amodei has been included in AI leadership meetings with President Biden, U.K. Prime Minister Rushi Sunak and other dignitaries.
Founded: 2021
Investors: Google, Amazon, Salesforce, Zoom and others
Management: CEO Dario Amodei was formerly vice president of research at OpenAI. His sister, Daniela Amodei, who is president of Anthropic, used to be vice president of safety and policy at OpenAI.
#2 Cohere
Cohere builds large language models to power generative AI applications for enterprises. An alternative to OpenAI, Cohere’s platform is used by clients including Spotify, Glean and Oracle. McKinsey is offering Cohere’s tech for customers to integrate into their operations. Cohere was even touted as a potential buyer for Stability AI, the startup commercializing the popular image generation model, Stable Diffusion.
Turing award winner Geoffrey Hinton (who is an investor) had this to say about Cohere: “Very large language models are now giving computers a much better understanding of human communication. The team at Cohere is building technology that will make this revolution in natural language understanding much more widely available.”
Founded: 2019
Investors: Oracle, Salesforce, Nvidia, Geoffrey Hinton, Fei-Fei Li, Index Ventures
Management: Founders Aidan Gomez and Nick Frosst were researchers at Google Brain.
#3 AI21 Labs
Considered a rival to OpenAI, AI21 Labs