December 11, 2017
After receiving a tremendous amount of feedback from LinkedIn, Facebook and via Email, we have updated and expanded the Austrian AI landscape with over 20 new entries. Newly added companies & institutions are marked with “v1.1” for easier identification.
Major additions and changes in this update:
- New categories AgriTech & Productivity
- Accounting was merged with the newly created FinTech category.
- companies within the “service & consulting” category were reassigned to better reflect their target customers and business focus
- “Retail & pricing” was changed to “Retail & eCommerce”
As a startup focused on Artificial Intelligence, we follow the Austrian AI community closely. Austria might not be the first country that comes to your mind when thinking about Artificial Intelligence, nevertheless lots of great startups, corporates and research institutions have been creating world-class solutions powered by AI.
Based on more than 100 expert interviews, desk research and industry events, we created the first Austrian AI Landscape, covering startups, corporates and accelerators as well as research- and educational institutions.
Youâ€™re welcome to re-use the infographic below as long as the content remains unmodified, in full and proper reference to the source is mentioned.
Stay informed on future updates
Would you like your institution to be included in future updates? Simply send us an email to firstname.lastname@example.org, we’re happy to keep track of your request.
- Austrian companies and startups excel at applying AI to business verticals
- so far no deep-tech AI leader has emerged
- talent shortage is a huge constraint to the whole ecosystem, this becomes evident when we look at low numbers of dedicated machine learning / AI engineers who are available in the job market
- the education system failed to recognize the need for data scientists and AI developers, but in recent years huge advances in setting up new programs were made
- most AI startups are in (pre)seed stage, with series-A funding stage being the exception. As of today, no large exits have been seen.
- Vienna has a comparatively large ChatBot ecosystem that - while not developing AI-based solutions per se - is actively engaged in building solutions on top of the latest frameworks.
Accelerators & Incubators
AI-specific programs are a rare sight in Europe, where Austria is no exception. Currently the large domestic VCs don’t run any specific AI funds, as a result a gap was created which was quickly filled by corporates starting their own programs and the local start-up community, that created the equivalent of a Y Combinator for AI and Art.
Even the agricultural sector isnâ€™t immune to the information revolution. Farmdok and Metos show how AI can help farmers analyze data gathered from their fields, while Smartbow provides automated monitoring, localization and heat detection for cattle. Technologies like these can support farmers to increase margins and limit operational risk.
Austria has a long and successful history in automotive engineering and is home to renowned brands such as AVL and MagnaSteyr. In recent years, local companies not only accelerated their efforts towards e-mobility and digitalization, but also lead the charge when it comes to applying AI in automotive engineering.
Big Data is Austria’s second largest AI sector by the number of companies and investments after Automotive. Not only is Austria home to a sustainable amount of homegrown companies but it also houses local subsidiaries of international companies.
Financial institutions have been widely disrupted by new technologies, and AI is one of them. The reasons why financial firms are implementing AI into their processes is to increase security, reduce processing times and increase levels of automation, among others. Beyond applying AI in the traditional financial services industry, it is remarkable how Abacus and ChillBill managed to become leaders in applying AI to accounting practices.
Rebellion Research v1.1
Blumatix Consulting v1.1
Image & Video Processing
Companies in this field have identified global needs and turned them into new business models. Anyline is using its patented technology to provide image recognition services from passport readers to smart meters.
Industry is often used for a collection of topics ranging from robotics to internet of things. Specific AI applications in Austria cover sensor-fusion and image recognition for robotics, as well as deploying AI assistants in the field.
Social media monitoring or auto-summarization of documents and text is carried out by companies specialized in media analytics.
Medical & Health
Austria’s medical universities provide a perfect combination of large datasets, cutting edge technologies and a high willingness to create spin-outs. Research focus in this area lies mostly in the detection of skin and retina diseases.
There is a growing number of tech pioneers developing new solutions for your personal assistant needs. These digital helpers can take the form of a calendar, a scheduler, or even a personal butler. What all of them have in common is re-allocating hours of wasted productivity, which lets you focus on more important tasks.
Austria has a long history in carrying out AI research. It was the JKU Linz where Sepp Hochreiter published his seminal work on long short-term memory, which forms the basis for automated translation systems we use every day. Furthermore, with the OFAI Vienna, Austria has one of the longest-serving AI research institutions worldwide.
Retail & eCommerce
Few areas are as suited for AI based analytics as retail, pricing and payment. With its innovative approach to data-driven retail and commerce 7lytix emerged as an early leader, securing 7-digit investment in its first year of operations.
Sales, Marketing & PR
Austrian companies such as Frux and Kjero quickly discovered the potential of recent development in natural language processing to provide insight for international customers. In terms of classical PR and multimedia, Tunnel23 should be especially mentioned. Looking for powerful digital content? Intellyo might be your platform of choice, while Logoshuffle will help you creating your company’s CI in no time.
Text & Language
Some of the pioneers in text and speech analysis, who mostly provide the technical foundations, are based in Austria. Recently a new wave of companies which build on existing frameworks to deliver their solutions directly to the end-customer has emerged.
Universities & Education
Austria’s universities have seen numerous AI winters, as a result the field did not receive the same attention as it did e.g. in France or Canada. Most majors were introduced recently and mainly focus on data science. Interestingly it’s not the technical universities that lead the change but a mix of universities for applied sciences and medical universities.
Created by EnliteAI - Vienna - 10 / 2017
Update v1.1 published in 12 / 2017