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London’s best: The most innovative tech companies making waves in the AI capital

In 2018, Artificial intelligence (AI) startups from the UK raised nearly as much capital as France, Germany, and the rest of Europe combined, reaching a new record in 2018. The UK counts at least five AI unicorns, compared with two in the rest of Europe. Not just that, a report from City.AI suggests that a new AI startup is established in London almost every week.

Another report published by the mayor of London suggests that the UK has over 645 companies related to AI with headquarters located in London. And there is also a 50 percent increase in investment on AI companies in just one year.

With the UK being home to so many companies driving the development of AI forward, across different fields of AI such as autonomous vehicles, computer processing, healthcare and security, we take a look at the best of them holding the Britain flag high in the global arena.

Image credits: Babylon

Babylon

Founder/s: Ali Parsa
Founded Year: 2013
Total Funding: £512M

Now valued at £2bn, Babylon Health is revolutionising the healthcare industry by empowering doctors with AI. It is a health service provider that provides remote consultations with doctors and health care professionals via text and video messaging through its mobile application.

Image credits: BenevolentAI

BenevolentAI

Founder/s: Brent Gutekunst, Ivan Griffin, Ken Mulvany, Michael Brennan
Founded Year: 2013
Total Funding: £246M

Another £2bn company, and backed by Neil Woodford – BenevolentAI aims to deliver life-changing medicines with AI. The startup has restructured engineering used in drug discovery and has invented tools to develop new-age treatment procedures for over 8,000 diseases across the globe.

Image credits: ThoughtMachine

ThoughtMachine

Founder/s: Paul Taylor
Founded year: 2014
Funding: £124M

ThoughtMachine is a cloud native core banking technology firm founded by former Google engineer Paul Taylor. The company’s primary product and technology is called Vault, a modern cloud native core system for banks constrained by legacy technology. It does not contain a single line of legacy or pre-cloud code, enabling traditional banks to transform and adopt modern, cloud native systems. Its scalable, secure, and flexible API-driven solution unlocks the banking industry’s ability to innovate and offer customised products and personalised customer experiences, while ensuring security, cost effectiveness and virtually zero downtime.

Their customers include Lloyds Banking Group, SEB, Standard Chartered and Atom bank.

Image credits: ComplyAdvantage

ComplyAdvantage

Founder/s: Charles Delingpole
Founded year: 2014
Funding: £71M

ComplyAdvantage is a global technology company transforming financial crime detection. It uses machine learning and natural language processing to help regulated organisations manage their risk obligations and prevent financial crime. The company’s proprietary database is derived from millions of data points that provide dynamic, real-time insights across sanctions, watchlists, politically exposed persons, and negative news.

Image credits: Quantexa

Quantexa

Founder/s: Richard Seewald, Imamul Hoque, Vishal Marria
Founded year: 2016
Funding: £71M

Quantexa is an AI fraud firm from London. It is a contextual decision intelligence software company that empowers organisations to drive better decisions from their data. Using the latest advancements in big data and AI, Quantexa’s platform uncovers hidden risk and new opportunities by providing a contextual view of internal and external data in a single place. It solves major challenges across financial crime, customer intelligence, credit risk, fraud and throughout the customer lifecycle. The Quantexa platform enhances performance with over 90% more accuracy and 60 times faster analytical model resolution than traditional approaches.

Image credits: Huma

Huma

Founder/s: Rich Khatib, Dan Vahdat
Founded year: 2011
Funding: £43.5M

Huma is a health tech company that uses AI to transform healthcare .with a mission to help people with chronic, complex, and rare diseases to live longer, better lives. It currently offers digital biomarkers and therapeutics that let hospitals to easily manage patient records, which can be shared via mobile devices. To develop these tools, Huma works directly with scientists and medical care experts in tandem to develop these solutions.

Image credits: ContractPodAI

ContractPodAI

Founder/s: Robert Glennie, Sarvarth Misra
Founded year: 2012
Funding: £44.3M

ContractPodAi is now one of the world’s fastest growing legal tech companies. Customers include some of the world’s largest and highly regarded corporations. It offers an easy to use, intuitive and affordable end-to-end contract lifecycle management solution aimed at corporate legal departments. It enables users to assemble, automate, approve, digitally sign and manage all their contracts and documents from one place. Their platform is built in partnership with some of the most trusted technologies in the industry including IBM Watson AI, Microsoft Azure, DocuSign and Salesforce.

Image credits: Decibel

Decibel

Founder/s: Ben Harris, Timothy de Paris
Founded year: 2014
Funding: £54M

Decibel is a platform that allows developers to analyse consumer behaviour on an app or a website. Decibel’s customer experience analytics platform, DXS, uses artificial intelligence to give companies information on how they can improve their websites to generate more revenue. DXS produces this information by drawing on data gleaned from analysing about 11 billion web pages every month.

Image credits: OneTrust

OneTrust

Founder/s: Kabir Barday
Founded year: 2016
Funding: £331M

OneTrust is a SaaS company which uses AI and machine learning to automate privacy and security. It is currently used by big-brands like Oracle, Vivo, and Allianz. The company has built these tools using an intelligent database, which contains hundreds of governing laws.

Image credits: Tessian

Tessian

Founder/s: Edward Bishop, Thomas Adams, Tim Sadler
Founded year: 2013
Funding: £45.8M

Tessian is one of the top cybersecurity AI startups in the UK. The company has built AI-powered tools to automate threat prevention and remediation. Services from Tessian can identify phishing, unidentified inbound/outbound of email, protection against cybersecurity threats, and many more.