2019 has seen the rise and fall of many startups in the tech industry. All eyes remain glued to Silicon Valley because it sets the tone for other tech hubs like New York.
Blockchain technology and artificial intelligence are the buzzwords for 2019. It is no surprise that the top 3 Silicon Valley startups for 2019 are in those industries.
- Wyre—Wyre is shaking up the banking industry with blockchain solutions. In 2019, they have announced a new technology that allows people to use Google Pay and Apple Pay to buy crypto with a few clicks. The new Wyre V2 enables users to make these purchases in under 20 seconds. In their rapid rise, they have partnered with numerous other cryptocurrency-based startups like Celer and BRD. As a blockchain payment provider, Wyre allows Celer and BRD users to purchase bitcoin with bank transfers within the partnered platforms.
- Instalocate—Instalocate combines blockchain and AI to provide a personalized assistant for travelers. They are building a network of AI assistants to help consumers take control of their travels. Instalocate can track flights in real-time and, with the use of AI algorithms, predict possible delays and problems. They became a startup to watch when the tool became available as a chatbot inside Facebook Messenger. The app also allows users to get compensation from airlines in case of flight delays. They receive a 25% commission when a disgruntled user receives compensation from an airline. Users do not have to pay for the service upfront, Instalocate does the work and users receive payment from airlines.
The startup, founded by a husband and wife team, was born from a travel delay they experienced attempting to return to India for a family celebration. In the complexity of trying to receive compensation from the airlines, the idea was born for Instalocate. Founded by Silicon Valley angel investors, it has seen a meteoric rise in use over the last year. Airlines make it a complex process to receive compensation. This means that over 10 billion in compensation goes unclaimed each year. Instalocate is striving to put that money back into the pockets of disgruntled travelers, and make a handsome profit as well.
- Zoox—This startup plans to leverage the latest artificial intelligence with mobility technologies to develop a fleet of vehicles. Taking a from the ground up approach, Zoox is changing the future of autonomous mobility. Releasing prototypes that show autonomous driving in complex environments, this startup seems poised to lead the industry. Currently, they are combining the automotive, renewable energy, AI and robotics to build a zero-emissions vehicle.
With a fleet of vehicles already on the roadways in the Bay Area, Zoox recently announced its expansion into the Las Vegas market. The company plans to use this as a test market to refine its technology and eventually offer a hailing ride service in Las Vegas. Zoox received permission from the Nevada Department of Motor Vehicles to drive autonomously on state roads. They also have permission to transport passengers, but that is not yet happening as they continue to test and refine.
With plans to start demonstrating its ground-up vehicles on the road by 2020, this is one Silicon Valley startup to keep your eyes on. The commercial application of ride-hailing alongside the promise of zero-emissions has caught the attention of those interesting in eco-friendly transportation solutions. Zoox is using AI-driven solutions in new ways to solve issues around autonomous transportation.
What makes AI and blockchain hot
AI is predicted to add over 15 trillion dollars to the world’s economy by the year 2030. Blockchain is a decentralized ledger used to store encrypted data. In essence, AI can act as the brain behind analytics and decision making based on the data collected.
The possibility of combining these two technologies is a new frontier. It takes the potential of the exploitation of data to new levels.